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Landlording Rants Listed Properties Real Estate Agents Real Estate Investing

My rental property is STILL for sale!

My rental property is officially pissing me off. It’s been for sale since November 2010.

I have it listed with a realtor (my father to be exact.) It’s had exactly 2 people through it. 1 said it was priced right. 1 said it was priced too high.

New carpet, new paint, it’s just in new-ish condition we’ll say. Started at $99k, then dropped it like 15k, now down to $72k.

Welllllllllll I’m at my wits end but this evening I was talking to a friend of mine, Bill Walston from BillonBusiness.net, and Bill said “why don’t you do a 3 yr. lease option?”

Now folks, I’ve done lease options before. I am very familiar. As a matter of fact, I’ve done a lot of different types of deals since 1999 when it comes to real estate investing.

So, why is it that 7 months after my property has been listed that I am just NOT thinking of doing a lease option on my property because Bill brought it up tonight?

Ridiculous huh? I think sometimes I get really “whacky” when I’m dealing with a property of mine personally. And I suddenly forget everything that I’ve learned in the past oh gee, 12 years! lol

I may have thought about a lease option and nixed it because I just want to be 100% done with the property, but the truth is, I think Bill is right…..I think the lease option is my best bet right now cuz guess what?

Carey don’t like shelling out hundreds of dollars a month for NADA!!!! Thanks Bill, you’re the best!

P.S. Don’t worry, I’ll keep ya’ll posted on my new idea of lease optioning my rental property out. Kathy and I discussed it this evening and she’s all for it! I’ll break the news to pops Sunday (yeah, yeah, I know it’s father’s day, but come on I need to get rid of this thing!)

P.P.S. Remember, if you’re interested in making passive income by starting your own ATM Business then you should sign up for my free video training series!

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Listed Properties Wholesaling

Weird Feeling Before Appointment with Seller?



Ever have a weird feeling before an appointment with a seller? I have once before and now today. I took Kathy with me to see a guy’s house about 2 or 3 months ago (she went with me because we had somewhere to go afterwards.) Anyway, the guy seemed ok but still a lil off. I made him an offer and never heard from him even after me following up. So I figured he wasn’t interested.

I checked my email inbox for my SellYourPaHouse.com business and he has filled out a form again saying this time he needs to sell right away. (He was one month behind on his mortgage when I first met him, so I’m assuming he’s probably 3 to 4 months behind now.)

I check out his place and find that he listed it with an agent. I tell him that if he wants to deal with me that he’s still responsible for the contract he signed with the agent and he has to figure that end of things out. He says ok. I set up an appointment to see his place again today at 11am. (I couldn’t find any of my past information from checking out his house. Organized I know!)




So here’s the weirdness: yesterday I set an alarm in my phone to remind myself about my appointment to meet him today. I checked the alarm last night and it wasn’t there. Hmmmmm? So, again I put in the reminder about meeting him today. I physically SEE it in my phone. Obviously I thought I did something goofy the first time and that’s why it wasn’t there. Before I went to bed I checked to make sure my alarm/reminder was still set. It wasn’t there. Hmmmmm? Odd, right? Now, I’m thinking I’m in the twilight zone of course so I set me alarm in my phone to wake me up at 9am today so I can be ready to see him at 11a.

At about 9:28am Kathy says “don’t you need to get up and get ready for your appointment?” I said “yeah, I set my alarm tho.” She says, “Oh ok, well it’s not even 9:30 yet.” I sit up in the bed and say “I set my alarm for 9am. Why didn’t it go off?” I grab my cell phone and look at the alarms….there are 4 alarms still in my phone and ready to go off at different times for today but wanna take a guess what’s missing? There is no alarm to wake me up at 9am! WTF? What is going on?

I get out of bed and I’m in the bathroom getting ready to take a shower and I look at my cell phone and I just think to myself “is my cell phone trying to tell me something? Seriously, this is too weird, maybe I’m not suppose to go to this appointment.” So I text Kathy and tell her that I want to schedule the appointment so she can go with me cuz I have a weird feeling. She calls me and tells me that if I have a weird feeling that she doesn’t mind going with me at another time but she’d still feel more comfortable if we took a man with us! She then says call Jeff I think he’s home today! lol Gotta love Jeff. Jeff is our rent-a-husband next door neighbor who is da bomb-diggity! (He just fixed our freezer and serviced our tractor the other day!)

So I call Jeff and tell him the story and he says no problem. I pick Jeff up and we head over to the house. He said “I didn’t bring my gun, did you?” I said “No, I didn’t. But my last resort if I could never get someone to go with me was to bring it. But I didn’t bring it.” He says “no problem it’ll be ok. I’ll handle anything that may go down. I usually carry a knife too but I don’t have that either.”

Ring-Ring. Jeff’s cell goes off, it’s his wife Becky. He tells her that he’s going with me to look at a house cuz I had a weird feeling. Becky says, “Well are either one of you packing heat?” Jeff tells her no.

We go to the house and the guy was just the same as before except this time there was a woman and a lil child in the house. The woman and apparently the guy just got done mopping up the floors.

Jeff says, “They were probably mopping the floor cuz they just killed someone and now they are cleaning up.” We laugh and I say, “Well at least it wasn’t us they killed!”

I think things all worked out in this scenario but I remember one time before when I had a weird feeling about a guy who I made an appointment with. I made my father go with me. We got there and the house was all nice and neat and clean with candles burning everywhere! After my father and I left he was like “well he had the mood all set, huh?” lol

I ended up getting that guys house subject-to and made a decent chunk of change on it. Turns out he was a gay guy and that’s why his house was always clean, neat and smelling good with candles. He liked candles!

Perhaps this new “weird” feeling appointment will be a deal too…….who knows? We shall see.

Any of you ladies or gentlemen even, ever have a weird feeling about an appointment and then adjust things accordingly? Let’s hear about it.

P.S. Brandon is graduating high school this evening. Woohoo! So I’ll be vacuuming and shampooing carpets all day while Kathy runs around like a mad woman getting ready for his party tomorrow. Now if we could only get him to branch “out of the house” so he can learn to live on his own! lol

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Commercial Real Estate Brokers Direct Marketing Campaign Finding Apartment Buildings How To's Listed Properties Real Estate Marketing

Direct Mail List to Buy Apartment Buildings



So you know I’m working on my direct mail list to buy apartment buildings. Right? Well my first direct mail list, where I did sent out the first batch of mailings, as it turns out I screwed up the list. One of the counties that I was looking in broke down the apartments in 5+ units….sooo of course, my luck, all of the smaller peeps were calling me back and Kathy and I are looking for minimum 40+ unit on our first deal.

Anywho, while checking out Loopnet last night I came up with an awesome idea to build my direct mail list to buy apartment buildings.




I don’t know how many of you have ever checked out commercial properties to buy and looked at any of their listings. But the better brokers when they list these properties have a pretty decent sized information packet which contains tonssss of information. I mean they’ll have the actual income and expense figures, proforma income and expense figures, demographic information, job information including the top employers in the area, rent rolls, etc. etc.

But another thing that they have is Rental Comparisons. So what they do is they have the subject property (the apartment building for sale) listed with it’s unit mix, square footage, occupancy and rents. Then they show a bunch of other apartment buildings around the subject property with their unit mix, square footage, occupancy and rents too. I’ve been reading this information for a few months now but last night it dawned on me…ya know an “aha” moment lol that I should add those comps to my mailing list! I mean they give me the property, the address and their occupancy. I figure the ones with lower occupancies should go at the top of my direct mail list to buy apartment buildings, wouldn’t you agree?

P.S. My adsense is on my nerves. It keeps showing ummm I don’t want to say the word to give it more reason to show more of those ads but don’t they know that the majority of this blog is about real estate and investing and not ummm d e n t a l work! Am I the only one whose noticed that? It’s driving me crazy lol Maybe I should just make a post that just says real estate, real estate investing, apartment buildings, commercial real estate investing, etc. 🙂

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Joint Ventures Listed Properties Makin' Offers Networking Random Ramblings Wholesaling

Awwww alpacas are cute!

alpacas

Ok so this post really has nothing to do about alpacas other than Kathy and I drove past some for sale today and I said “awww alpacas are cute. Let’s get one.” I didn’t really mean it tho lol I swear.

Anyway, I didn’t get much accomplished today but hopefully I’ll make that up now that I have a phat new HP 6500 all-in one wireless printer.

hp 6500 all-in one wireless

Well, this morning I met with another wholesaler. Big shout out to Bruce for buying me some breakfast, well actually it was my lunch since I already had my breakfast (my 4 organic carrots and 2 organic apples juiced. Yummy. Plus a banana, not juiced tho lol)

Anyway, Bruce and I are going to do some joint marketing deals when we get some wholesale properties under contract. Bruce…if you’re reading this….give yourself a shout out lol

I also have a scheduled appointment with a real estate attorney next Wednesday morning to talk about doing my settlements from now on. Since I’ve moved into this area (Oxford…aka boonyville) I don’t really have an connections here as far as title companies and such go. I think I’ll give Bruce’s company a shout too but in the meantime I’m going to meet Ira Binder on Wed. The broker of the new office I signed up with referred Ira.

Of course, I could use my old title company/attorney but the reality is he’s too far away. And we were always trying to struggle to find a settlement place closer to where the deals were. He was great, very creative and did the deals the way I needed them to be done, but I just need someone closer.

Now on to my 8 offers that I made the other night. Here’s the breakdown:
1) The agent submitted it (she was the one that used me as the agent cuz she was embarrassed by the offer 🙂
2) An agent told me that I needed to submit an offer on an agreement of sale and that she wouldn’t take a LOI.
3) An agent told me that there were 2 other offers on the property higher than my offer and 1 was significantly higher. He asked for my highest and best. I wasn’t going any higher.
4) An agent just told me that they have an accepted short sale offer at 65k so if I didn’t submit an offer for that he couldn’t help me. I think I’m going to email him back and be nice and ask him to SUBMIT my offer anyway 🙂 But now that I think about it, I think there’s a lot of bullshit going on with short sales that you to hold it for 90 days or some shit, etc. I may just nix that one unless someone posts on here giving me a reason not to.
5) Another agent told me that I really needed to put my offer on an agreement of sale, otherwise he couldn’t present it. He also told me there was another offer higher than mine (as if I care lol Btw, I’m sure most agent tell the truth when they say that, but overall I don’t believe them.)

The other 3 offers I’ve heard nothing about. I will email the wife of one of the agent’s tho. I know them personally…as a matter of fact I brought them into Keller Williams. They are in my Keller Williams downline and I get paid profit sharing each and every month from KW because of them and others I brought in (yes, even tho I’m not an agent there anymore.) Anyway, 99.99999% of their deals are reo’s so I’ll email the wife and see what’s up. I’ll also tell them to put me on their mailing list for future listings they get.

As for the other 1…guess I’ll call the agent and see what’s up. So far so good tho, I haven’t had one agent yell at me or tell me off about my low offers 🙂 That’s always a positive thing.

Ok so now I’m going to print out an Pennsylvania agreement of sale and scan it into my computer. Kathy showed me how I can make the text editable….so I’ll see if I can swing that, so I can just have it on my computer and easily change prices, address and such. I’m trying to make this process as seamless as possible. I seem to remember Steve Cook having his agreement set up a certain way and he would just send it to his agent, etc. Hmmmm…anyone remember what he did?

Oh and just so you know why I’m trying to make this as easy as possible…the PA agreement of sale is 18 friggin pages long. It’s soooo annoying and boring. Ughhhh.

Okey dokey pokey’s, I’m out like trout.

Flippin’ Carey

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Finding cash buyers Finding REO Deals Listed Properties Makin' Offers Networking Wholesaling

Saw some houses today..what to do?

I’m in a bit of a pickle. I don’t quite know how to operate without a damn printer/scanner!

I looked at 8 reo’s this afternoon and also drove past about 5 cash sale properties today (they were in the neighborhood of the 8 reo’s.) I would like to make an offer on every one of the reo’s I saw today but I’m trying to figure out how? I have a real estate contract but it’s a part of a program that real estate agents use called RealFast and it’s just the version on my computer, not a web-based version. If I were to write up the contract in RealFast I a) can’t print it and b) can’t save it as a pdf or any other document type besides a real fast document.

Soooo the big question….how do I draw up my agreements and get them to the agents? I was thinking letter of intents. What do ya’ll think??? I was also going to include in the l.o.i. that I’m not going to be acting as my own agent and they can submit my offer as my agent. Shit. This sucks.

Crap. I’m sure there is a really easy solution that I haven’t figured out yet (I’m like that somtimes…can’t see the easy answer right in front of me.) Anyone? Anyone?

Oh btw, I don’t know if I said this yet but I officially switched real estate offices last Friday or so. I now work for Fautore Realty and I am digging the new broker so far. As I was driving around looking at properties I get a call from him and he says “I know a property that would make a great flip for you. Here’s the address it just popped up on the MLS but you better hurry.” And I went and saw the property and it was awesome (awesome as in it was a nasty, piece of shit, smelly property lol in a decent neighborhood.) Then he says “Oh and this other property I know of got a shortsale approved at $100k and it’s in a great area. It’s going to be released from an agreement tomorrow if you want to go after that one too.” His buyer apparently had it under agreement but is backing out or something. I thanked him and asked him if he would send me his bpo’s too 🙂 He said “absolutely.”

Quick funny story: so Kathy went with me to see houses today. We go to see the one my broker told me about and you could tell the house was beat to shit from the door. She was like “oh boy.” Then we walk through the overgrown bushes to the houses and I open up the door and she goes inside and says “oh my God! This is horrible.” When I hear that I know it’s gonna be good (for me.)

We walk around and one room we go into wellllll let’s just say I ALMOST lost my lunch. I have a very sensitive nose and when shit smells rank I need to cover up because I start to gag and sooner or later it’s coming out. Kathy’s like “this place is disgusting!” And I’m smiling saying I know.

When we get outside she says “they just need to knock that down and start over again. I’d give them $5,000 for that place.” And I say, “Honey you say that every time we see a shitty house like this. And the last time you said that, I offered $50k on the house and made a $15k assignment fee!” She’s like “well they shoulda knocked that house down too!” lol

Gotta love spouses who just don’t get it completely. I give her credit tho, she goes through the nastiness with me and helps me in anyway she can and she does want to get into rentals together when we’ve cleared up our debt, but I think I’ll stick with making the offers on properties otherwise we may just go hungry! 🙂

Oh wait one more thing….I did take down a handful of For Rent numbers and addresses to see if I could add some folks to my buyer’s list.

Can someone help me out with my dilemma? What do you think I should do?

Flippin’ Carey

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Finding REO Deals Listed Properties Real Estate Agents Real Estate Marketing

Bandit Signs

So I’ve been doing pretty well with writing down a few goals to do a day and actually getting them done. Seriously, I recommend you try that instead of a long laundry list of things to do. You’ll be amazed at how easy it is to accomplish the most important, effective items.

Anyway, now it’s time for me to put out bandit signs. I’ve been putting out 10 a nite, but I think I’m gonna go put out 20. I ran out of signs that have the vertical fluting in ’em so I’m just putting ones out to hang on poles, etc.

Btw, this is not my favorite thing to do but I have to tell you, it’s one of the ways that I’ve made the most money in real estate. Ya know I think they 20% of the things you do will make you 80% of your money or something like that lol anyway I figured out that the only things that have made me money in real estate have been bandit signs, vinyl lettering on the back of my car and deals from the mls so that’s where I’m focusing most of my time and energy.

I did check out the sold properties in the past month or so that were sold for cash. Got 13…sooo I’ll check them out probably tomorrow or the weekend. Who says people ain’t buying properties? Pffft!

Had a friend from high school tell me that she’d let me use her bank statements to submit offers….waiting for updated copies from her (still haven’t heard back from my uncle….I’ll have to call him again.)

But also, I have 2 guys that I’m going to set up meetings with that I think could be VERY good possibilities to be private lenders. 1 is the father of another girl that I went to high school with and 1 is a guy that Kathy sold a Rainbow to (that’s what we sell as independent distributors on the side.) He’s a friend of her brothers and he already asked us about investing in real estate cuz he has money so I just gotta get my spiel together and come at him from the private lender aspect.

I wanted to say one more thing but I completely forget what it was…..damn it, I hate that. Ohhhh I did check out a house today cuz I got a call from one of my bandit signs the other day. It was a mobile home on a rented lot but I figured I’d check it out just to get in practice again of meeting with sellers, etc. The place is listed but I may tell the guy I’d be interested in a 30 day option??? Can’t hurt, I mean he’s leaving the end of this month no matter what.

Ohhhh I do remember what I wanted to say….I’m switching real estate offices. I gotta figure out how to do shit in the right order but I’m moving from Keller Williams to a very small, local company near my house. Reason being…well the fees are wayyyy less, I mean BIG TIME…and he’s got a lot of investor connections, reo connections and private money connections….plus he told me that he’d give me all of the addresses of the bpo’s that his wife does every month (about 20 to 30 per week) so that I can see if I can do a deal with folks while they are still in pre-foreclosure.

Soooo I’m working on all of this at the same time with trying to pump my business back up. I figured he was the right step for me in going in the investing direction and for me right now, if I wanted to go in the real estate agent direction then Keller Williams would have remained the best step. Btw, not that there is anything wrong with KW….I think they are a wonderful company and they are very investor friendly and I can’t complain one bit about their profit sharing lol (I get a check every month no matter what and I will continue to since I’ve been with the company more than 3 years….6 to be exact.)

Anyway…..exciting things happening.

Flippin’ Carey

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Listed Properties Makin' Offers Passive Income Real Estate Agents Real Estate Investing Real Estate Marketing Vacation Adventures Wholesaling

Gettin’ ready to head to Vegas baby!

Ok so I did check out houses the other day and I have the houses set aside that I want to make offers on. Every house that I could actually get INTO I’m going to make an offer on. Some houses I couldn’t get into, one house went under agreement about an hour before I wanted to see it, and 2 houses had tenants living in it and wasn’t an reo yet, so I wasn’t quite that interested in getting into those house, plus they needed notice.

All in all I was suppose to see 9 houses I believe and only got to see about 4 or 5, but I think they were 4 or 5 decent places and I’ll make offers on them all. Problem is….Kathy and I are getting ready to leave for Vegas for a week on Saturday so we’ve been busy getting ready for that. Soooo, I’m gonna just have to force myself to do it this evening I guess….but it may be REALLLLY late cuz we’re heading to an ATM that we own that is in a Gentlemen’s Club (if you can ever get your atm inside a gentlemen’s club my advice is to JUMP ON IT! Our surcharge for that atm is $7 🙂 So we’re heading there tonite to actually take cash out of that atm and put it into an ATM that we have at a cash only chinese place for when we go on vacation. The chinese place goes through roughly 2k a week……so we gotta stock it with cash since we won’t be here to fill it.

Anywho, I also just accepted a BPO offer…why? I have no friggin’ idea…..I should have just took the address and started marketing to the lady in case she’s goin’ into foreclosure. But I’ll do the bpo….maybe it’s one of my small ways of getting back into the swing of real estate shit. Ya know?

Oh and that short sale deal that I was working on for a listing I have….the friggin’ buyers backed out again! This is why the real estate agent gig I feel is a sucky full-time thang. Buyers are soooo damn annoying! They don’t want to not receive their $8k tax credit from the government. Oh wait….here’s the funny part, they wanted an answer from the bank whether they were going to accept the short sale or not in 8 days! But when you counted only business days….it gave the bank 6 days to respond lol

Needless to say, they back out of the deal when I told them it would take roughly 37 days from beginning to end for the banks answer (Wells Fargo sent me a time table for their short sales.) So annoying….

Ok I’m off to shower as I’m stinkin’ and sweaty from workin’ out…….off to make something happen! I have put 0 bandit signs out, which I need to do because they are by far my biggest money maker…..no questions about it.

Flippin’ Carey

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Listed Properties Real Estate Agents Short Sale Investing

Geez this short sale deal is back and forth and the bank doesn’t even have it yet!

So I get a call from the seller saying they signed the agreement but they wanted to counter….fine. I had to CONFIRM tho that the wife signed it. She was there and the husband put her right on the phone. She said she initialed and signed everything and she understood everything. Ok cool.

Got the signed agreement and faxed it to the selling agent. Well the buyers didn’t like the new counter price so they backed out of the deal. I warned my sellers that could happen but they didn’t care. Don’t ya love how people never want to listen to the professional that they hire? That’s what makes being a real estate agent something that sooo doesn’t appeal to me and only comes 2nd out of missed investment deals…know what I mean?

Anyway, I told them the next time they get an agreement to try to sign it asap too so the buyers don’t get buyers remorse too. The husband said ok. (It took them a week to sign it practically….we were waiting on the wife.)

Fast forward to yesterday. I get a call from the selling agent and she told me the buyers called her and said they’d reconsider the house if the seller’s would sign off on the original price and then the buyers would entertain negotiating somewhat with the bank if the bank countered. Sooo I passed that info along to the sellers and after they thought about it they called me back and said ok.

Dropping the paperwork off today for the ORIGINAL offer price for the sellers. I’m hoping I get an signed agreement today from them.

On a super good front. Today is my first day of eating REAL food after an 8 day juice fast. I had 2 slivers of watermelon this morning and 1 egg (yolk only.) And it was amazing! Lunch and dinner are recipes from Emeri’s new show “Emeril Green.” That show rocks!

For you movie buffs….Kathy and I saw “The Invention of Lying” last night. It was cute and funny at times but it was longggg. It seriously could have been a 1/2 movie and I would have liked it much better. Kathy picked it (after I’ve been picking nothing but duds lately) and I look over at her and she was SLEEPING! lol

Ok off to Whole Foods to get some red snapper and lump crabmeat and some organic stuff for the 2 meals. Plus, we’re gonna either order an organic turkey for turkey day from there or from our local amish farmer (we know the farmers price, now we just need whole foods price.)

Have a great Saturday!

Flippin’ Carey

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