Possible wholesale deal? Atm meeting

Posted on 21. Jul, 2010 by in Atm Deals, Wholesaling



I MAY have a possible wholesale deal. I am pretty sure I blogged about this house before, but I went to see a house a few months ago and made the guy an offer and never heard from him. Then he called me back recently and I had the “weird” feeling so I took my “rent a husband” Jeff with me lol and then I made him an even lower offer.

Never heard from him again. Btw, he has his house listed now too. Well he called me back again this morning and said he had an offer on his house and it fell through. He said the realtor doesn’t even have a sign on his house anymore lol Go figure.

He asked if I was still interested. We went back and forth for a while. He wants over $100k and I offered $65k to $68k (fixed up probably worth hmmmmm $200k to 250k. Big difference I know but I guess it depends what you are going to do with the place. It’s huge. Or someone could make it a duplex if they wanted to.) Anyway, he kept asking if I could do more….I told him there is no way in the world that I could be where he is. I did say, however, that IF and only IF I agreed to a higher price, slightly higher price that I would just put an option on the property and I’d take 30 days to find a buyer and if I couldn’t find a buyer in 30 days then we’d either a) agree to a price drop or b) he’d be on his own and I was out of the deal.

He seemed to understand but he wanted to think about it. He’s trying to walk away with 30k so he can move but it ain’t gonna happen. Plus, he’s super upset that just 1 or 2 yrs. ago when he bought the house he got it for over $100k. I think I’m a pretty good people person when talking about this kind of crap…..but we’ll see what he decides. Oh did I mention he’s in foreclosure?




Mhm yeah I told him look you’re gonna have to do something and walk away with SOMETHING or the bank will take the house and do you know how much you’ll walk away with then? He said “yeah.” I said “how much?” He said “nothing.” I said “exactly.” :-)

So hopefully something sank in with him today. I’ll call him on my way to work tomorrow morning.

Tomorrow on my lunch break I’m meeting with an atm provider. I want to make sure that if we buy machines from them in the future that they give us the service that we like, etc. etc. Plus, I’m going to talk to him about working together on my upcoming ATM ebook.

I’m definitely learning how to incorporate activities into my days while working and it’s tough…..but hey……what’s that quote again guys?

“If you do for 3 to 5 years what most people won’t do; then you can do for the rest of your life what most people can’t do!”

Ok I’m going to check out a bunch of blogs from my buds since I’ve been out of the loop lately and then I’m off to bed. I’m going to try to get up early so I can work out…that working out thang didn’t go over so well this morning.

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7 Responses to “Possible wholesale deal? Atm meeting”

  1. Scott Costello

    22. Jul, 2010

    looking forward to hearing about the guys decision. I think the reality of the situation is going to hit him upside the head and you’ll sign the option contract with him.
    .-= Scott Costello´s last blog ..MLS Offer Week- Pulling Comps =-.

  2. Shae

    22. Jul, 2010

    I agree with Scotty….I think you’ll have an option in hand very soon. Wishing you well with your meetings today and looking forward to our chat tomorrow!
    .-= Shae´s last blog ..Jogging the memory for potential private money lenders =-.

  3. ChrisBuysApartments

    22. Jul, 2010

    Hi Carey, Hope all is well. Sorry did not return your call. Will be in touch soon.

    So now that you are settled into your routine, when are your mailers going out for Apts?

    Boom… that’s right! I said it. Get on it.

    “This is your wake up call. Go to work.”
    -Gordon Gecko

    -Chris

  4. Flippin' Carey

    22. Jul, 2010

    Scott and Shae….I hope you’re right. It would be nice to have an option and to actually assign it to someone lol

  5. Flippin' Carey

    22. Jul, 2010

    Hey Chris,

    I was just thinking about you the other day…imagine that. You must have sensed it!

    Actually I was thinking that I’d like to get a more “motivated” list before sending out my next batch of direct mail.

    Tired landlords? Expireds? Foreclosures pending? Those types….perhaps even drive-bys of places that look deffered……oh yeah and REO’s.

    Well the reo’s wouldn’t be on the direct mail list tho.

    But I may this promise to you publicly that starting on Monday each night before or after work I WILL work on my list (foreclosures in a certain county cuz I have online access and also expireds.) Then next Friday I will go visit 1 or 2 courthouses to see if I can sweet talk someone into helping me with landlords filing evictions, etc. Or landlords that already won judgements from evictions.

    You can hold me to this Chris and I know you will….so thank you for that!

  6. mobilehomegurl

    26. Jul, 2010

    Cool news, Carey! I’m looking forward to hearing how this one pans out, I’m getting nostalgic now hearing all about your wholesaling adventures :)

  7. Flippin' Carey

    29. Jul, 2010

    Wellll so far haven’t heard from him Rachel. I called him a few times and left a voicemail message and nada.

    I’ll call him after the weekend kinda hint at the fact that he’s running out of time :-)

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