Flip This Wholesaler

2/8/2009

* Looked at 6 houses (3 Saturday, 3 Sunday). Made offers on all of them.

* Ran 7 miles (3.5 Friday, 3.5 Saturday)

* Listened to Bob Norton's audios over at REItips.com. Good stuff... Bob is a rock star.

* Decided that the offers I'm making are not low enough.

* Watched drunken Gasparilla pirates from my balcony through my $15 telescope that my Mom got for me at a garage sale.

Behold- Gasparilla.......


(click on the picture to get a better view)

* Wasted an hour of my life on the phone with a lady who called after seeing one of my signs. She told me her whole life story. Was supposed to meet her today to sign a contract but she disappeared into thin air. This happens to me all the time with women "buyers". Don't get mad at me, it's true.

* Found two new cash buyers from the signs I put out Friday.

*Organized the stack of crap that has been gathering on the floor around my desk since the beginning of the year. Took me two hours to sort through all of it.

Behold- stack o' crap.......


(This picture is only half of it, btw)

* Washed my car after 2 months of procrastinating. Got lost for a full hour on the way home from the car wash. Good times.

* That's about it in a nutshell.

Over and out...

Oh crap- almost forgot! A wholesaler friend of mine was closing an REO deal on Friday via a simultaneous close (using the buyer's funds to fund both transactions).. The title company we use has a disclosure that the buyer has to sign that states that they are aware of the fact that their money is funding both deals. Usually it's no big deal, but this particular buyer wasn't having it, and refused to close the deal unless my friend funded it with his own cash. YIKES. Luckily, he has access to the cash and had to run to his bank and wire the money (I think it was 57k).

Hope that doesn't happen to me any time in the near future.

11/4/2008

Well, people, I am on a serious roll here!

The closing I had on Friday went off without a hitch, and then I closed another yesterday. I sent the listing agent an email yesterday after the closing to let him know everything was signed and funded, and he sent an email back saying, "Let's do more!" Yay! Music to my ears. This is deal #5 that I've closed with this particular agent, and I think it's safe to say he likes me. Can't say I blame him. Teeheehee.

I got another one under contract today. Well, actually it's a deal a friend of mine has, and one of my buyers is going to buy it, so we're splitting the deal 50/50. I have another one like this that is supposed to close later this month. I also have the two that I sold to California Guy that are supposed to close this month. That makes 4, but I'm just going to go ahead and assume that all of them will blow up, and I'm just going to continue to make offers and do deals and make more offers and do more deals....

I put out 25 signs over the weekend and found a new cash buyer. I'm telling you guys, there are buyers coming out of the woodwork looking to buy cheap houses in this market. I'm getting deals in the teens and twenties, and they cash flow all day long. One of the buyers I just found who called on one of my signs (the guy who is buying the house from my friend), said that he has been waiting on a buying opportunity like this since 1992, which is when he went on his last spending spree, and was able to pick up homes in the teens and twenties. He has called me once a day, every day since I first spoke with him (2 weekends ago), and he is chomping at the bit to buy up some bargains.

This market is like a dream come true for me. I'm not kidding. My competition is thinning as the days go by, and the deals just keep getting better and better. I hope it stays this way for the next two years, because I am going to go full speed ahead and make some serious cashola. Once I do that, if the market is still in the dumpster (which I hope it is), I'd like to buy a few dirt cheap homes for cash, and then rent them out. It wouldn't take me too many free and clear homes to be able to pay my monthly expenses. I never thought I'd hear myself say that I wanted to own a rental again, but if I can pick them up for 10-15k (or less), and I have the cash to do it, I think I would be stupid not to.

So, that's the plan for now, anyway.

Adios, Amigos!



P.S.

I'd really like to throw in a political jab or two, but I've decided to spare you. I think we've all had enough.

You're welcome. ;o)