Flip This Wholesaler

6/15/09

Well, it looks like I'm not going to be able to pull this deal off after all. I've got a few guys that are on the fence about it, but I don't think I'm going to be able to get them to commit by the end of the day today.

I ended up putting out 60 signs over the weekend (the goal was 100, but I didn't quite make it). My phone was ringing off the hook yesterday, although most of the calls came from tire kickers and/or people who couldn't speak English. That's the way it goes sometimes..

I need to get a few more deals in the pipeline, so this week I'll be making a massive amount of offers, and putting a massive amount of signs out looking for more buyers...

I hope all of you guys are doing well with the goals that you set for yourselves this month- today is the halfway point, so I thought I would update you with my progress.. I committed to getting up at 6 am 5 days/week (M-F), and getting my cardio out of the way first thing... So far, I am 11 for 11! I haven't missed a day yet, and I have to tell you, it feels FANTASTIC! I'd like to start implementing a few more habits into my daily routine, but Leo Babauta is adamant about only working on developing one new habit every 30 days. I think I will take his word for it, being that he is a Zen Master and all..

Well, gotta run- the mls is calling me....

Happy Monday, Blogosphere!

P.S.
Did anybody else get their Facebook vanity url over the weekend? I forgot about it until Saturday afternoon, but still managed to get my name! Facebook.com/StephaniDavis. :)

5/26/2009

Well, I hope everyone had a wonderful holiday weekend! I got a lot of work done, and managed to get in a little play, too.

My sister called me a few days ago to tell me she and her husband and my nephew are going to be renting a condo on the beach in Destin, FL, so I decided that I'm going to drive up tomorrow and stay for a few days. I've never been to the panhandle of FL, but I've heard that it's one of the prettiest parts of the state, and the beaches are supposed to be beautiful also. It's a 6 hour drive up there (I think), which I'm actually looking forward to. I love me some road trips! I just got James Ray's Harmonic Wealth (on cds), so I'll be listening to those on the way. Oh, and rumor has it that there's six, good-looking, 30-ish year old guys that are renting the condo next to my sister's. So that's a bonus. Hehe.

I was going to put up an Accountability Monday post yesterday, but I figured everyone was probably out celebrating the holiday, so I figured I would wait until today. I hope everyone is doing well with their goals that they set for themselves last week. I fell a little short with the number of offers I made, but I ended up scoring a deal, so I'm OK with it. I only put out 60 signs (was supposed to put out 70), and only ran 3 days (instead of 5). I finished up the Millionaire Mind cds, which were outstanding- thanks again Kelly!

This week, my goals are: (1) Sell the deal I just got under contract (2) Put out 70 new signs to find new buyers (3) Ban myself from Facebook (and the internet) until I get all of my work accomplished for the day.

Let's hear how you guys are doing? How did you make out on last week's goals, and what are your goals for this week?

Let's all get out there and KICK SOME ASS!

P.S.
If you haven't signed up for REI 2009, there are still some spots available. Steve and Shaun are giving away all of their courses to those who attend, so if you've been considering buying any of their products, this is the perfect opportunity! Also, you can bring your spouse for free. :)

P.P.S.
If you haven't signed up on Facebook yet, I would suggest doing so. It's a great place to network- I almost put a deal together on there last week! It's a little bit addictive, though, so beware. Add me as a friend if you sign up!

5/18/2009

I had a fantastic weekend. Didn't get a whole lot of work done, but I had a good time.

A friend of mine was in town for the weekend, so we hit the beach, threw some steaks on the grill, and had lots and lots o' cocktails. Good times.

Oh, I also bet on Rachel Alexandra in the Preakness and won! I don't usually bet, but I was feeling lucky, so I said what the heck.

I basically took the entire weekend off from all things real estate, so I'm ready to jump back in today and do some serious damage this week.

As soon as I finish this post, I'm heading to Laird Plastics to pick up 100 more signs, and plan on putting 10 out every day this week. That will get my phone ringing, and should land me some fresh new buyers. Buyers=money in this market, so I'm always on the hunt for new ones.

My goals for the week.....

(1) Put out 70 signs

(2) 21 offers (3/day)

(3) Run 3.5 miles/5 days

(4) Listen to T. Harv Eker's Millionaire Mind audios (thanks to Kelly for sending them to me!)

OK, what about you guys/gals?

Let's keep this going..... what are your goals for the week?

4/24/09

Well, it's Friday already. How did everybody do with their weekly goals?

I'm kind of embarrassed to admit this, especially since I'm the one who started this whole thing, but I pretty much failed miserably on my end..

I was supposed to complete an outline for a call that I'm doing with Steve, and also find two new buyers in an area of Tampa that is right around the corner from where I live....

I am halfway done with my outline, but didn't get very far with the buyers. I was going to put a bunch of signs out during the week, but got totally sidetracked with 2 of the deals that I am working on (one of them, the buyer backed out after he saw what the house was listed for, so I have to scramble to find another buyer). First time that's ever happened. Good times...

I guess I still have until the end of the day though, don't I?

I better get crackin'.....

How did you guys do??

4/23/2008

The closing for the other REO I had under contract closed yesterday without a hitch. This one was just about as much of a pain in the ass as the one that closed last week, but it's over, I got paid, and that's all I care about... I ended up making close to 2k more on this deal than I had anticipated because I WAY over estimated the closing costs. My buyer paid all of the closing costs on the second transaction, and the bank paid most of the closing costs on the first transaction, and then I got a credit for the taxes, so when all was said and done, I only had to pay about a hundred bucks in closing costs.

I've now closed 2 deals with this particular listing agent in the last two months. He's got a ton of listings right now, so I'm pretty happy to be in his good graces. These relationships are going to pay off big time in the long run.

The third deal I have under contract (the one w 4 wholesalers involved), is scheduled to close this Monday. This one is not bank owned, but was on the mls for sale by an investor. I don't foresee any problems with this one (famous last words. hehe). The buyer has bought several properties this year from one of the wholesalers involved, so that's always a good sign.

I've been without mls access today and yesterday, so, haven't been making any offers. Also, have some non-real estate related stuff going on that has taken a lot of my time up.

I've set some pretty lofty goals for myself to accomplish over the next year. It is going to take quite a bit of hard work, and more importantly, DISCIPLINE (which I lack, oftentimes), but I can do it if I set my mind to it.

I'm finding that anything is possible if you are willing to put forth the effort, pay the price, and refuse to give up. I know that probably sounds trite and cliché, but it's the damn truth.

3/9/2008

I don't know if anyone else does this, but I have my goals (short term and long term), written down, and I review them once a day (usually first thing in the morning, or right before I go to bed). I had always been advised to do this by those that were successful, but never followed through with it. I started doing this on a consistent basis in January, and I can say that it has really helped me to stay focused. I spent a lot of time this weekend reviewing my goals for 2008, and tweaking them a little.....

I had initially planned on selling other wholesaler's deals (1/month was the goal), but I've decided that my efforts would be better spent finding and selling my own. I've done 1 deal so far with another wholesaler this year, and made $500 on it (I was supposed to make 2k, but the buyer negotiated down, so there was very little profit left). Anyway, I just think my time would be better spent focusing on my own business as opposed to everyone else's.

Here are a few of the other goals I set for myself this year.......

-Complete at least 1 REO wholesale deal/month.

So far, I'm right on track, but I'd like to surpass my expectations this year, so I've really stepped up my efforts recently.

-Move into a downtown condo by April 1st.

Check.

-Run 20 miles/week (4 miles a day, 5 days a week).

There are a few weeks that I have fallen short, but for the most part, I've kicked ass. I'd like to say this has taken a lot of willpower, but I actually enjoy it. It's my Prozac.

-Make 100 offers/month.

Not so much.

One of the biggest problems I have is that once I have a deal going, I halt everything else until I get it wrapped up. Then, I tend to spend a few days afterwards celebrating. Next thing you know, a whole month has gone by, I haven't done shit, and I have to get the ball rolling all over again. I'm working really hard to break this habit. Really hard.

So, anyway, that's where I'm at...

P.S.
Set your clock ahead an hour. :)

12/08/2007

I was supposed to go to a hockey game tonight with my friend Jeff, but decided to stay home instead and give some serious thought to my game plan for the coming year.

I pretty much failed miserably at the goals I set for myself this year, although it definitely wasn't for a lack of trying. I really had no clue what I was getting myself into when I quit my job and jumped in full time, so I'm not beating myself up too much about it. Now that I know what to expect, I will be able to set more realistic (yet challenging) goals for 2008. I'm looking at 2007 as a dry run.

I listened to Earl Nightingale's "The Strangest Secret" earlier, to give me some inspiration. I've heard it several times in the past, and it always puts me in the right frame of mind. It's a 30 minute audio that you can listen to for free here. Mark Victor Hansen interrupts the story a couple of times, which is kind of annoying, but other than that, it's definitely worth listening to if you have some time to spare....

¡Adios Amigos!