flippingmom.com

Is this buyer on your list?

Everytime I had a buyer campaign which in this case was sending out letters to absentee buyers, I only included local and out of state buyers, but for some reason I excluded international buyers. This time I decided to include them and I’m pleasantly surprised with the result.

Cold feet VS Quick feet buyers?

This week I bet I answered and made over 50 calls and guess what? Most of those calls were for one closing. The best part is, it was all for a great assignment fee… ready for this? $1500. The irony of it all is the other closing I have tomorrow is for a $4000 assignment fee and I only spent a few hours on it. It's funny how the lower the assignment fee, the more the work required.

Oh! What a day

Endless Checklist

It’s been a fun, busy, challenging last few weeks. I feel like I have an endless checklist of things to do and just when I think I'm almost done, I add 10 more. I have accomplished a lot I set out to do, but still have lots to do, so I would like to update you guys on what I’ve been up to. My daughter is finally potty trained after lots of cupcakes and fruit candies ... Yeaaa! We’ve been shopping for a pre-school for about a year now and finally decided on one that she loved and was almost dragged out of because she enjoyed the visit so much. The Principal was going to have her start at the 2.5-3yr old class but after some tests, they realized she was smarter than the kids in that class, so they suggested she starts at the 3-4 year old class. I was very proud of how well she did on the questions. She knew

The Secret Deal Maker

Last week, I spoke to 2 very motivated sellers ready to accept a lower price than I offered because of changing circumstances. Seller (Laura) was just recently divorced and as part of the divorce settlement, she was given some of her ex husband’s rental properties. Listening to her story was quite fascinating because I know in most states the couples get to share the assets but she become an accidental landlord. The worst part was the tenants stopped paying rent and started avoiding her calls when it was time for them to pay rent. It got so bad that she became scared of the tenants since they refused her entry into the houses, by coming up with all sorts of excuses and refusing to come to the door when she went there. Right now she is going through the process of evicting one tenant and wants to evict the other next. The house I was interested in is a 2 family house with one tenant in the lower flat. While my assistant was taking pictures of the outside someone walked out of the house and invited him to come in to take pictures after finding out he was interested in buying the house. Laura was surprised that the tenant let him in the house since they won’t even return her calls. After accessing the house, I made her an offer and she refused and told me she was just going to rent it out to another tenant, so I told her that might just be a better idea, but if she was still interested in selling she should give me a call. 2 days later, I got a call from her and she sounded quite upset and told me she was done dealing with tenants. She’s been trying to contact him…he is still refusing her calls and she was done. She suggested that since he was good to my assistant I could keep him in the house as my tenant if I wanted. I was like “No way, he’ll treat my buyer the same way he is treating her, he did us a favor by showing himself to be a problem tenant. I told her after I made the last offer, I noticed I had offered more than I should have on the house and I made a lower offer and to my surprise, she accepted. The problem is that she won’t be ready to sell till later this month after she evicts her tenant. I sent her the contract anyway and will send it to my buyers. Two weeks ago, I got a lead through webuyhouses.com. Seller (Sasha) got the house through a quit claim deed and was ready to sell. Based on the information I was given after about one hour of conversation, I made an offer and she said she was going to discuss it with her husband. 30 mins later, she called and said her husband thinks the price was too low. After talking for a little while, she informed me that they were going camping and asked me to call her in 2 weeks. On Saturday I gave her a call and she told me they went by the house and saw the house needed more work than she thought but that her husband was willing to accept $2K less than what I offered 2 weeks before. It turned out that they were much more motivated to sell because of a little leak in the basement. My buyer is going to have his inspector take a look at the house tomorrow, so finger crossed. Follow up! Follow UP!! FOLOW UP!!! I can’t say that loud enough.

The Runaway Buyer

Yes, I was left at the altar. Just imagine preparing for the wedding of your dreams with beautiful white flowing gown, bridal train, bouquets, 7 tier cakes, wine bar, best DJ in town, a wedding planner for the stars to boot…you get the idea, and the music come on, “here comes the bride…” I’m walking down the aisle with no groom at the other side waiting to take your hand in marriage. Well, ladies and gentlemen….after all the preparation for the wedding of the year, I’m sorry the grown had cold feet and the wedding is cancelled. Yeah, I know it sounds a little dramatic, but it did happen to me. After all the preparation and looking forward to a few thousands of mullah in my bank account my buyer backed out on the day of closing. I knew it was a possibility and always dreaded a phone call from my title company on the day of closing, but it’s never happened to me before and my worst fear finally became a reality. The day after I got this house under contract, I sent pictures and all the information to only one of my buyers because I know he is pretty fast and I knew he would love this house. He called me an hour latter and wanted his contracted to go see the house in an hour, so I called the homeowner and arrange for him to meet “my contractor” , but my seller was out of town for the weekend so we set up a time to meet on Monday morn at 10am. At 11am I got a call from my buyer and he wanted me to send him an assignment contract and set up a time to meet to get my EMD. I sent him the contract and within hours I got a signed contract and we planned to meet the following day.

Sow Seeds – Reap Rewards.

The last 2 weeks have been very busy. When I first started wholesaling, I mapped out a farm area of about 8 zipcodes that most of my buyers are interested in purchasing houses, and have been marketing exclusively to those areas. In my last marketing effort, I sent out postcards to Absentee owners and after 2 days my phone started ringing off the hook. On Tuesday 7/6, I sent out 1040 Postcards and got the first phone call on Friday 7/9. Men tend to have a more authoritative voice and from experiments, people tend to respond to a guy’s voice and follow the instructions given. Since real estate

Esi Benedict – The Best and Brightest Women in Real Estate Investing

2 weeks ago Patrick aka P-Rid of www.mustknowinvesting.com kicked off a new series titled "The Best and Brightest Women in Real Estate Investing" The all-star line up of women Real Estate Investors participating are: - Julie Broad - Esi Benedict (yours truly) - Shae Bynes - Christina Mellott - Stephani Davis - Surprise Special Guest - Rachel Hernandez - Susan Lassiter-Lyons Well guess what, it's week 2 and it's just been posted on Patrick's blog. If you've been dying to see me live, well head over there and check it out, I don't think I look too bad, lol. P.S: Be kind to leave a comment, it will be very much appreciated. I hope you enjoy it!

$750 EMD? say what?

Tuesday was a long day in court. I didn’t have to go but I went anyway and I learned so much about the probate process in the county where I invest. Two main reasons I went was one, I decided to lend the home owner some money because she are going through a tragic period in her life including losing a sister this past week, the city is threatening to foreclose on their home if they don’t pay their back taxes and even though they were ready to let go of a lot of equity on the home to the city because they couldn’t afford to pay $750 in probate fees, I felt bad for her and took the risk. (I guess you could consider that an EMD. I have never given my sellers an EMD before,

Work now, Play later.

Wow! It’s been a while since my last posting. I hope you all had a great holiday weekend. I decided to spend sometime relaxing after a hectic and busy last few weeks planning my daughter’s birthday party and working on upgrading my business. On Monday morning, 4th of July morning, yeah honoring our troops, bbq, fireworks day, I decided to get some work done before playing (waterpark, bbq and fireworks) in the evening, so I got my family in the car and we went house shopping for some leads that I got the previous week . Found a house that I liked and got it under contract. I got this lead from my marketing to Landlords or Absentee Homeowners. The house has been vacant for about 3 years and has been broken into 6 times. Homeowner (who I would refer to as Debra) attempted to sell it several times, but no one put an offer in on it and my guess is because the asking price was too high. The house across the