Debt Real Estate Investing Wholesaling

Debt- the good, the bad, the ugly.

I’m not a fan of debt. I know you’re probably thinking well who is Carey? The truth is most of the people in the U.S. are….if you want to get technical about it, right? I mean most of us (and them) are in debt, right? So they are fans of debt.

I am not a fan of debt even a lil bit but I’m seriously pissed off at myself BIG TIME and I’ll tell ya why. If you hit the rewind button on my life you can be taken back to a day when I had bad credit and a shitload of debt. Financially, let’s just say times were sucky and stressful. Ever been there? 😉 Now if you fast forward a lil bit passed this time frame I got my proverbial shit together and I was 100% debt-free (except for the mortgage on the house I lived in) and I had a 740 credit score. I was super proud of myself because I worked hard to get out of debt and to build my credit. Problem arose when I was an idiot about my money at the time…here I am, completely debt-free except for a $535 mo. mortgage payment and I was making at least $50k a year but ummmm I had nothing to show for that? Instead of being smart with the money I made I was an idiot and nowwww fast forward to my life now.

I met a wonderful, beautiful, smart woman in Kathy and after 2 yrs. of dating we decide to purchase a house together. It was a bank REO which needed a complete makeover and although we got into our $240k-$250k home with $0 money down well neither one of us had the money that was needed to fix up the entire house (plus moving costs, etc.) Sooooo here comes the friggin debt again for me because I was a dumbass with my money the entire time I was debt-free. Grrrrrr!

Nowwww…..wanna know how much debt I’m in? $34k!!!! Mhm…..yep….and I can’t even tell you want most of it is for, actually I can’t tell you what a lot of it is from but not all of it. I mean included in that $34k is a few atm’s and even tho I’m including them in the overall figure they are actually paying themselves off, if that makes any sense. $34k of fixing up a house, vet bills, trips, etc.

And ya wanna know something? I got no one to blame but MYSELF. Yep, I take full responsibility I was an idiot, I’ve been an idiot and I am still an idiot….but it’s time to put on my Smart Girl hat and quit with the idiot bullshit because I know better.

My goal is to get out of that debt by this time next year. So in order to do that I’m going to have to pay $947/mo on my credit card and then $1886/mo on 2 lines of credit (one business loc that still has real estate shit on it and one home loc that has the biggest chunk of the 34k on it.) I say $947/mo on my credit card because I just got a 0% balance transfer rate on a card until 4/2010. So I want to pay it off by then.

Once that comes then I can add that $947/mo credit card payment to the lines of credit payments. This seems like a daunting task on the surface but if you sit down and think about it logically well that’s just 1 wholesale deal a month!! Right? I just have to work my ass off to ensure that I get one deal a month. Btw, these numbers don’t include my normal living expenses in regards to my home, insurance, food, etc. That’s all extra!

I think I can do it…and I’m going to take action to ensure that I do it…and even if it takes me 1 1/2 yrs. instead of 1, I’ll still be tickled pink. DEBT is my driving motivation right now…..I want out.

Kathy doesn’t understand this burning desire of mine because she’s never been out of debt her entire adult life…..I told her that once she gets there, she’ll never want to go back. It’s a beautiful thing that I miss. Plus, I like to think that I’m a hell of a lot smarter and wiser now, so once I’m out of debt my money will definitely be used in ways that will ensure I don’t ever have to go back there.

I don’t know if you guys (and gals) ever read Secrets of the Millionaire Mind by T. Harv Eker but I do the jar system that he talks about (although I use different bank accounts instead of actual jars. We have actual jars tho for Kathy’s 9 yr. old son and 17 yr. old son tho.)

I’m feeling good about all of this and I wanted to share my story with everyone so you know that yeah, I’ve done deals and I’ve made money in the past in real estate and used the funds stupidly but now I’m going forward to use the funds for a real purpose now and that I am human and I do FUCK UP! (and it’s ok if you do too, just please, please make sure you learn from it.)

Oh and for the record the $34k figure does NOT include my personal residence mortgage or rental property mortgage. I’m not too worried about them at this time, just want to get rid of that big $34k figure and then I’ll tackle the home mortgage (the rental one I’ll let the tenant pay off for me.)

If you guys want to share your motivation for paying off debt or anything like that, please feel free to. I think it’s beneficial to write it down and especially to tell others about it, kinda makes ya more likely to hold yourself accountable, ya know?

Flippin’ Carey

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Real Estate Marketing Vacation Adventures

ViVa Las Vegas…..I’m baaaaaaack!

Well it’s awesome to be back home. I was in Vegas for 7 days and I was ready to come home after day 3 to 4. I love Vegas but prefer it in small doses……

Anyway, I rested up Saturday and Sunday and now I’m ready to get back in action. My marketing schedule I made I think I’m going to alter it………I’m going to do a few things to do each day rather then give myself a whole slew of things to do….from my past I know that I made more money in real estate when I would actually write down 1 to 3 KEY things to do each day… I’m going to go that route again.

My to do’s today:

1) Take care of Vine St. heater problem (I got a call from my tenant while in Vegas that they have no heat.) – I already spoke to the warranty company about this and the hvac guy called me and should be coming out tomorrow.

2) Email Uncle Joe- my uncle Joe has a lot of money in certain accounts and he’s let me use his statements to make cash offers in the past…so I’m asking him for an updated statement. I already emailed him.

3) Clean desk- my desk is sooo friggin disorganized that I need to straighten it up. I haven’t gotten to that yet today.

4) Put out 10 bandit signs- haven’t gotten to that yet.

Now those are just 4 little tiny things……but accomplishing them today would really feel like I did something worthwhile, ya know? I think I also added to my list to determine and write down my daily, weekly, monthly and yearly goals.

Btw, the atm’s rocked while we were on vacation. The gentleman’s club kicked asssss 🙂

Ok it’s good to be back…..I hope to hear from you all and coming soon I want to talk about debt a lil bit.

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… questions about it.

Flippin’ Carey

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Finding cash buyers Finding REO Deals Real Estate Investing Wholesaling

Gonna go check out some houses today….

So I have a list of reo’s to check out today that I got off of the MLS….9 total. And then I have my list of properties that SOLD to cash buyers (ala Steph.) Seriously tho folks, if you’re interested in being a REO wholesaler you’ve got to check out Steph’s ebook Flip This REO. I’ve been investing for 10 years now and I still get some solid awesome ideas from Steph. Do yourself a favor and get the ebook…heck it’s on 47 bucks! Sure beats some crazy ass $900 course that is filled with fluff and b.s. You have my personal guarantee that any 1 of several tips you take from her ebook will save you or make you that $47 investment back PLUS some. I promise. Ok enough of that about Steph’s ebook…..

It’s really good to be back in the swing of real estate investing that’s for sure. I think it may Kathy taking some getting use to again tho. She wanted to play 500 rummy with me and I told her that I couldn’t cuz I was out to look at some houses.

Hopefully, by the time I get back I’ll have the signed agreement from the buyer for my listed short sale deal. They changed their minds back as long as the sellers would go with their ORIGINAL offer. And they did.

Okey dokey pokey….see ya soon.

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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Must Have Books Real Estate Investing

Highly Recommended Reading for Entrepreneurs

For the past 10 years plus I’ve been reading, studying and devouring awesome books, courses, etc. that had to deal with real estate, money, business and self-help. There are a handful of books that I HIGHLY recommend and I figured I’d include them here. If you have some that you think should be added, please make a comment with your suggestion and why you think it’s such an awesome book.

Also, if you’re read any of the ones that are on my list, by all means make a comment about why you liked (or didn’t like the book.) (Note: The links below are all affiliate links. So, if you think a book or 2 sounds interesting and you want to go ahead and buy it, please use the affiliate link if you feel that I helped you with your decision to purchase the book. It really helps to pay for this blog! Thanks!)

  • Rich Dad, Poor Dad by Robert Kiyosaki– simply one of the best books ever written, imo. It will completely change your way of thinking about money, wealth, investing and well life in general. This is #1 on my list for a reason. I can’t even tell you how many times I’ve read this book.
  • Secrets of the Millionaire Mind by T. Harv Eker– Wow. That’s what I thought after reading this book. I will warn ya tho…it’s slow to start, but trust me when I tell you to stick with it. If you’ve always wondered why you get stuck in the same ‘ole money ruts then this book is your answer. You will be absolutely amazed at the things you learn about yourself while reading this book. But remember, give it a chance, it’s slow in the beginning but you will eventually have one of those “aha” moments like I had and be hooked. I finished this book in 1 day both times that I read it. And I’ve also listened to it on cd’s twice! That’s how good this book is. You’ll take something different from it everytime you read it (or listen to it.) I promise.
  • The 4-Hour Workweek by Timothy Ferris– have you ever thought that you worked TOO much? Yeah me too. This book is the perfect read that will give you tips on saving time and getting what you need to get done quicker. Remember I mentioned this book in my post about a marketing schedule? You’ll learn how to do what’s important in life and eliminate the fluff from your life making for a more productive day and business. A+ read.
  • Emerging Real Estate Markets: How to Find and Profit from Up-and-Coming Areas by David Lindahl– this is an excellent book regardless of which area of real estate investing you are in to. Seriously, if you’re a residential or commercial investor or if you’re into land development or just any area of real estate investing in general you should definitely read this book. You’ll learn how and why certain areas will skyrocket with appreciate even while the national market or your local market in fact may be stagnant or declining. Awesome book filled with incredible information and it walks you through where and how to get this information.
  • Multi-Family Millions: How Anyone Can Reposition Apartments for Big Profits by David Lindahl– another excellent book by Dave. His books are really loaded with useful information, grant it, throughout and in the end he may try to sell you on his courses or coaching, but overall his material is always A+ in my opinion. This book has to do with repositioning apartment complexes. It’s a way to make a boatload of money if you’re willing to take on the challenge of a repositioning. He recommends that not more than 30% of your portfolio be in repositions. Check it out and let me know what you think of it! I think you’ll agree with my assessment!
  • People Are Idiots and I Can Prove It!: The 10 Ways You Are Sabotaging Yourself and How You Can Overcome Them by Larry Winget- This guy is just abrasive, hard core, in your face and to the point. It’s time to start taking personal responsibility for your life and for your screw ups. If you need warm and fuzzy, Larry ain’t your man, but if you can handle the truth, then this is a MUST READ. It’s very effective for you to do the exercises throughout the book as well. You can check out My Plan for My Life list from this book and My Give Up list. Pick this up the next time you’re feeling like life sucks and nothing is going your way 😉 or if you just need a little pick me up. And yes I’m being serious.
  • You’re Broke Because You Want to Be: How to Stop Getting By and Start Getting Ahead by Larry Winget– another in your face book that helps you take personal responsibility. Well I don’t wanna say helps you but throws it in your face that you have to. It ain’t nobody else’s fault but yours so start taking control of your life and start getting ahead. Great exercises to do in this book as well. Not for the people who need sweet and nice. You should have somewhat of a thick skin to read any of Larry’s books.
  • The Art of the Deal by Donald Trump– well if you don’t know who Donald Trump is well you probably live in a hole somewhere (and if that’s truly the case then I’m impressed that your hole has internet access!) Anyway, this is a very interesting read. The thing that I think makes it the most interesting is that Donald Trump does what we do day in and day out but on a LARGER scale. Options, rehabs, you name it. It’s in the book.
  • The 9 Steps to Financial Freedom by Suze Orman– I use to work as a production coordinator backstage at QVC way back in the day and that’s how I got this book. Suze was a guest and I was in charge of her show and we got to talking and she gave me this book. Boy was I glad she did. Most of us don’t want to invest in real estate so we can invest forever and constantly work on deals, right? Well this book will lead you through the steps you need to take to be financially free one day. It’s worth the read.
  • You’ve Earned It Don’t Lose It by Suze Orman– here’s another great read by Suze. So we work for 10, 20, 30, 40 years, etc. to make money to pay the bills and to live and enjoy life but do we really end up “losing” most of our money? Most folks sadly enough do. Learn how to earn your money and not lose it.
  • Unlimited Power by Anthony Robbins– we have so much that we stop ourselves from doing in life. If you don’t know it yet, our mind is a very, very powerful thing……Anthony Robbins book and audio helped me to take action in my life big time. I can’t say enough about this book but I want to tell you that if you have the funds available that I really suggest you get his Personal Power Cd set. I think I had Personal Power II. But it was truly an amazing experience going through all of the steps in the cd set. If funds are limited tho, then you can’t go wrong with this book.
  • The Secret– a simply awesome book about the Laws of Attraction. Must read or see for everyone. I think most of these books should be REQUIRED reading in school but definitely this one should. If you’re not much of a reader than check out the dvd. It’s mind blowing. Hint: DO THE EXERCISES!
  • Think and Grow Rich by Napoleon Hill– here’s a must read classic. What’s the first word of the title? Yep, THINK. Are we seeing a pattern here……your head and mind is soooo powerful. Learn how to use it in your favor. You’ll see what Hill learned when he interviewed many successful people to write this book.
  • The Total Money Makeover by Dave Ramsey– if you got some debts and some money worries than this is the book for you. If you’re like me and you’re not into religious type of stuff, etc. then you’ll just have to ignore those parts of the book. Take what you want and need from the book and you’ll be astounded at how you get your financial plan into shape. Remember tho, ain’t nothing gonna change in your financial life just because you read this book…you MUST take action and implement the concepts you learn. I still use Dave’s concepts to this day in regards to money (I use Dave’s, Suze’s from 9 Steps and T. Harv Eker’s from Secrets of the Millionaire Mind to help with my financial plans.)
  • Heartburn No More by Jeff Martin– ok grant it I know that this isn’t really about real estate or investing but it does have it’s place. Believe me. I, personally, have suffered from acid reflux/gern/heartburn for over 5 years and I’ve been on medicine for it for over 5 years. My G.I. doctor recently told me that he wanted me off of the medication so I had to start taking it every other day. Well that other day was very painful so I decided to look for a holistic approach to getting rid of heartburn and I found this ebook. Desperate with such bad heartburn that it brought tears to my eye I bought the ebook. It was hands down the best 47 bucks I ever spend in my life. I started the program in the beginning of September 2009 and this entire month I’ve been without heartburn. It’s friggin amazing. If you or someone you know has acid reflux, gerd or heartburn might I please recommend you buying this for them for their birthday or as a just because gift.

    Btw, I don’t know if you know this but stress is a big factor in heartburn. If you have any type of heartburn symptoms and if you’re anything like me and you get stressed out by your real estate deals “will I find a wholesale buyer quick enough” “will my rehab be done in time” “will my simultaneous close go smoothly” etc. etc. then this is a MUST HAVE E-BOOK. No questions asked. It will save you from much pain. If you’d like any more details of my experience with the book and it’s entire program then please feel free to contact me here.

  • Well I have many more books that I’ll think about putting on here but this is a good start for now. If you guys and girls can think of anymore, let us hear about ’em!

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    Real Estate Investing Real Estate Marketing Short Sale Investing

    Real Estate Investing Marketing Schedule

    Ok so I’m one of those people that need a schedule. Not only do I need one but I find that I’m wayyy more productive when I write stuff down even if I have to do it everyday. I think I learned that writing the stuff down each day worked best for me after reading The 4-Hour Workweek by Timothy Ferris. Awesome book which I highly, highly recommend.

    Now through the years of investing (10 to be exact) I’ve figured out which methods work for me and actually got me deals and made me money and which methods didn’t do squat. So, of course, I’m only concentrating on the methods that have made me money in the past.

    Also, please keep in mind that this is a general schedule and I may change the days around as I have other things that may come up (cause I’m not only involved in investing but I have other things going on.) Oh and also….I am on this cleanse/juice fasting thing for the next week so I’m not sure how my body will react and some of the things that involve leaving my house may have to wait until the following week. (I’m taking a holistic approach to getting rid of my acid reflux/heartburn/gerd…hence the cleanse/juice fast. I may post about that in the future just in case any of you suffer from that. It’s going awesome…haven’t had to take my heartburn medicine this entire month!) Anyway….enough of that….on to the schedule:

    Mondays- Put out 10 Bandit Signs.
    9am – 10:15am: Get probate listings from courthouse (I haven’t gotten a deal this way yet, but I get my phone ringing and have made offers.)

    11:15am – 1:15pm: Go visit cash-only solds from the MLS to add to my buyers list. (I kinda searched for them before like that but after watching Steph’s video about it I really think I’ll take it more seriously and make it a part of my weekly/monthly routine.)

    2:15pm – 4:30pm: Search MLS for reo’s to make offers on and owner-occupant fixer uppers/motivated to send mailings to.

    4:30pm – 5:30pm: Send out probate letters.

    Tuesdays- Put out 10 Bandit Signs.
    11:15am – 1:15pm: Visit the MLS reo’s from yesterday, if necessary.

    2:15pm – 3:15pm: Make offers on every property visited.

    Wednesdays- Put out 10 Bandit Signs.

    Thursdays- Put out 10 Bandit Signs.

    Anything that I may not have gotten accomplished on Monday, I will take care of on Thursday. Plus,

    9am – 11:15am: I may go to the courthouse to check out pre-foreclosures. I refuse to send postcards to these people because over 10 yrs. it’s been the biggest waste of money for ME, personally. I am seriously contemplating coming at them from a real estate agent point of view to see if that can get me in the door and that way I can throw 2 options at them: I can either buy your house from you or list it for you. This will mostly be door-knocking though. If I get no answers then I will send a nice letter, which I got from my father. I’ll revise it a wee bit, but overall I like it. (My father is a Realtor and has a lot of success with getting listings from pre-foreclosures.) Keep in mind, I’m not in this for listings, I want the deals, of course, but I’m not going throw away any easy money that’s for sure.

    1:15pm – 3:15pm: Door knock the leads that I get from the courthouse that day.

    4:15pm – 5:15pm: Send out letters to the folks on my lead list that weren’t home when I door knocked.

    Fridays- Put out 10 Bandit Signs.

    Saturdays- Put out 10 Bandit Signs.

    Sundays- Put out 10 Bandit Signs.

    Notice that I’m leaving the evenings open for potential appointments with folks or they can be stuck in slots on days that I have open, including weekends.

    Everyday I’d like to put out bandit signs as they have been my biggest money maker for deals (along with the vinyl lettering on the back of my car and the MLS.)

    There ya have it. That’s my tentative schedule for now. I may have to tweak it, but we’ll see how it goes. This week may be a bit hairy because of the cleanse I’m doing, I should know more tomorrow. Honestly tho, I may just do only home type stuff this week because I have this whole schedule going on with what I’m suppose to do with this cleanse each day (it ends on Friday.)

    Flippin’ Carey

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    Real Estate Agents

    Can real estate listings please be easy all of the time?

    Geez so that short sale that I’m working on that’s a listing of mine….remember? Well I get a call from the wife last nite who informs me that the husband has been signing her name to all of the documents and she hasn’t signed anything since the beginning when we first met in person. She told me that he just ran out the house with a bunch of papers to go and stay at his moms house because they are fighting and the only paper she could see was a hardship letter dated for today.

    She then goes on to inform me that her lawyer and the mortgage company told her not to worry about anything and not to sign anything because her name isn’t on the mortgage. I had to remind her that it IS on the deed, however, so she still needs to sign off on the agreement of sale. She said she just wants to know what’s going on. I told her that I wanted to call my broker just to check on some things and that I’d call her back. She said ok. Btw, she was VERY nice to me….she just told me a bunch of shit about how her husband didn’t think she would live this long and that he’s been hoping to collect her insurance money and that he’s been having an affair for the past 3 months.

    I kinda think she’s telling me the truth because I think I mentioned that whenever we had paperwork he would ask me to drop it off at the vacant house so he could pick it up and have him and his wife sign it and then he’d leave it at the vacant house for me to pick up. It’s all adding up now. I use to think the wife was wacky but she was very coherent on the phone last night and made complete sense in everything she said….she sounded like she had her shit together in other words.

    My broker gave me some advice on dealing with the lady because I already know the lady doesn’t want to sell the house, she’d rather it go to foreclosure (probably to go on her cheatin’ hubby’s credit) and I already know she doesn’t want to sign anything. *sigh* My broker told me to go after the angle of the people who made an offer on the house and are excited about living there and starting their lives, etc. and that THEY would be the only ones who were really disappointed and let down in the entire situation.

    I think that’s the approach I’m gonna take cuz I can’t make her want to do something for her husband cuz she doesn’t care. Btw, she hasn’t called me back since I left a message last nite and the husband I left 2 messages for today and he still hasn’t called me back. I just had to break the news to the other agent about what was going on…she’s confident tho that I’ll get it resolved lol Let’s hope so!

    Flippin’ Carey

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    Real Estate Agents Short Sale Investing

    Short sale listings can never be easy, can they?

    So I dropped the aos off yesterday for the sellers of the property that I have listed that is a short sale. As I was leaving the husband shows up (to pick up the paperwork. The house is vacant, they live elsewhere.)

    We chatted for a little bit and I told him to have it back to me tomorrow. And if he or his wife had any questions to give me a call. He said his wife is not doing to good and that she’s been in a “mood” and that she told him she wasn’t signing shit! 🙂 Lucky me.

    He told me not to worry and he’s use to dealing with her and that he’ll have her sign it by tomorrow. We’ll see how that goes.

    I feel bad for the lady as she was in a horrible car accident as a passenger, completely not her fault, so she’s very bitter and angry and emotional nowadays but geez, sell your house. She told me at one point she’d rather the bank take the house back rather then her not make a penny on it. Mind you, I been telling them from the start they ain’t gonna make a penny on it! At least I got the hubby on my side.

    I was working on my schedule this morning while laying in bed and I should have it up later on today. Tarheel Ed, I got your request and I will shoot you an email later. Thanks for the welcome back, btw. 😉

    I’m off to shower as Kathy and I have to go fill one of our atm’s that’s up the street as soon as she and Joe (her 9 yr. old) get back from church.

    Flippin’ Carey

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    Real Estate Agents Real Estate Investing Short Sale Investing

    Short sale going on…

    Ok so when I was a lil slow on the trigger with getting deals because I didn’t want to disappoint anymore sellers I decided to go with the OPTION side of life. So what I did was I got this nice 4 bedroom, 2.5 bath newer home in Parkesburg, PA. tied up with an option contract. Wasn’t all too much wrong with it so I decided I’d try to flip my option to someone in 30 days and if I couldn’t do it than I was at least upfront and honest with the folks and I could always list it if they wanted me too (for those that are just learning about me now, I’m also a licensed Pennsylvania real estate agent.)

    Well 30 days goes by and I couldn’t whoelsale it to an investor, which I knew I wasn’t going to anyway, this was totally an owner-occupant type deal. I also, unfortunately, couldn’t flip my option contact to an owner-occupant. So, I advised the sellers what was up and that I, personally, did not want their house and that I could list it if they’d like. They did.

    The house as been on the market foreverrrrr but we finally got an offer yesterday on it. We’re countering, but regardless, it’ll be a short sale. I’m sure buyer and seller will agree on price and then we’ll have to go through the process to get the bank to agree to it 🙂 (Wanna learn how to do short sales? Check this out short sale course out!)

    The first is with Wells Fargo and the 2nd is with Wells Fargo’s Home Equity division. So, I’m on my way to drop the agreement of sale off to the sellers so they can initial the changes they want to make and sign the contract. The reason these folks are actually going into foreclosure in the first place is because the wife was in a major car accident and is on permanent disability (with no benefits) and there ya have it. The husband called me today and said he’d have to pick up the contract and then get her to sign it later because he’s taking her to the emergency room for some problems she’s having (he took her late last nite as well.) This one was very emotional and is a TRUE hardship situation.

    Oh and in the meantime, I get a call from a guy who saw that this house was for sale. We start chatting and it turns out that he’s an investor. We had a pretty decent conversation and I added him to my wholesalers list hehehe Funny how things happen, ain’t it? That Law of Attraction stuff really does work………..

    Already, off to take care of this. Later I’ll post my new schedule and plan for coming up with deals. I already gave myself a 10/31/09 deadline for my first newly “not m.i.a. anymore” deal.

    Flippin’ Carey

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