Flip This Wholesaler

2/12/2009

Been a busy week so far.

The duplex deal with Murphy closed yesterday, so our curse has officially been lifted! It's about time.

I've been making a lot of offers lately, and have been getting counters back almost every day, which has been keeping me busy.

The deal that I'm losing money on is closing tomorrow. Watson Title has been a slow piece of inefficient garbage on every other deal that I have ever worked on with them, and of course, the one time when I could benefit from their suck-assery, they end up being Johnny on the Spot and have everything ready to go on time. Sons of bitches.. I'll be losing about $800 on this deal, and although it SUCKS to lose my hard earned money, I'm kind of glad this happened, because I learned a lesson.... my deals need to have way more wiggle room in them, and so , I have been making my offers a lot lower. I'm talking, ridiculously, embarrassingly, low. I don't expect many of them to get accepted, but all I need is one/month, (as opposed to 3 or 4 smaller deals), and with the amount of offers I'm making, this is a very attainable goal.

I've been kicking some serious ass in the gym lately. I can almost see a six pack again. Woohoo! Working out is kind of like real estate investing... It's hard as hell in the beginning, but once you get some momentum going, it's a great feeling. Very empowering.

That's about all I've got for now.

Roger Dodger, 10-4, Over and Out.

P.S.
Richard, here's a picture of the mason ladder I use to make stakes for my signs....



P.P.S.
Countdown to Costa Rica: 10 days!

2/1/2009

I'm taking a little break from work while my Dad is in town, so I don't have a whole lot to talk about real estate wise. Well, except for the fact that I am probably going to lose money on that deal I told you I sold to my Ace in the Hole buyer. He called me at 7 am the morning after he told me he would buy it for 20k, and said he went back to look at it again, and there was more work needed than he initially thought, and that he was sorry, but he wasn't interested. (This is not a good way to start a day off, btw). So, I called the other buyers who were interested a few weeks ago, and both of them passed. Long story short, I ended up getting Ace in the Hole Buyer to take it for 16k (that's what my contract is for), but I am going to have to pay closing costs, so I'm going to lose around $800-$1000. This is not good, but it is better than losing 2k (that's what my earnest deposit is with the bank). This is my first time ever losing money on a deal, and hopefully it will be the last... I did get an offer today for 20k from a hard money buyer, so I am going to see if I can buy Ace out of his contract with me. I'd say there's about a 50/50 chance of that happening. We'll see.

OK, I gotta run- I'm up watching the Australian Open final- it started at 3:30am... Thanks Jason!

P.S.
Can someone send me some information about Than Merrill's product launch? I didn't receive any emails about it this last week.

P.P.S
Sarcasm alert.