It's A GIRL!

Well folks, I couldnt hold it any longer.. I had to do it. My GF wanted a puppy for Christmas soooo bad, and I finally folded. I was going to wait to give it to her on the 25th but I was soo excited about it too! Below are some pics. She's a Mini Jack Russel Tarrier. She is sOOOOO mellow, it doesnt make any sense. She's so much fun and almost already house trained, she's about 7months old so the breeder has been working with her for a while as well. She plays well and loves to be near you.. she soo lovable.. and I can go on and on for days lol.

Well, I hope everyone has a Great Christmas and Happy Holidays! I got some WRAPPING TO DO!

Dennis

I'm Back!

Hey everyone! I've received a couple of messages from folks wonderin where I have been! I'm sorry I have not posted much lately :(

School: The semester is FINALLY over, after thanksgiving up until December 8th I was on a strictly redbull diet to keep me awake to study :) Everything worked out good though, I had 21 semester hours this semester and I got AAABBC.. a C in a toxicology class (hard), but oh well it happens, I'm still going to be highly decorated when I graduate.

Ebay: With my ebay business, I'm working with a new deal and a new supplier..well actually an old supplier I had, but it's a new person the last guy left. I'm going to be developing a product which I can sell less of, but make the same if not mroe money.. so that will free up my time!

New Project: I'm working on a website that is basically going to be helping people start up and run an ebay business, it's going to be sweet, i'm getting into "internet marketing" I've spent a ot of time on it, it's coming together and I already have 30 subscribers!

REAL ESTATE!
YES! I am still grinding away, I've got a closing on a hosue January 12th I just found out about. I made several offers in october and november but I lost the hosue to someone else. The buyer couldnt get financing so the agent called me up last week to ask if I was still interested..OFCOURSE! so it's scheduled to close January 12th.

I also got another property closed that is in the hood, I have until January 5th to get it assigned, I dont think i'll have a problem though as I have some interest in it now. So keeping my fingers crossed on that one.

I had a meeting with a guy that grew to be a close friend, he really wants me to go from a deal finder to a "investor" I told him that credit is not perfect he said that we could partner up on a deal or two while I get good on paper (working on my credit now) so that is pretty exciting.

I'm really just trying to spend as much time as possible with my family this holiday season, in the past when I lived in charlotte I was always working around this time of year because I worked at bestbut(retail sucks , ugh) but now I have the freedome to not only bee able to afford to buy nice gifts for everyone, but I also have the tiem freedom to be able to spend it with my loved ones... that's what it's about!

Well, that's it for now! I got some more exciting news to share with everyone.. verrryyy soon ;)

LaTa!

Dennis

Happy Thanksgiving!

Well, Happy Thanksgiving everyone! Ask yourself, what are you thankful for?!

ME? I'm Thankful for having an incredible family to share lots of love and an amazing group of friends who I can rely on and an incredibly beautiful girlfriend who has my back!

AnD A GREAT SUPPORTING REI GROUP!

Enjoy, eat lots!

Dennis

The shortsale bug is biting me again.

Well, i've had 2 days with almost nothing to do.. I'm off for thanksgiving break! Techincally i shoulda gone to school on monday and today but I got all my assignments in so I figured I'd take the week off!

Tomorrow I have 6 houses to go check out, i'm determined to go look at all 6 and make 6 offers.

I had a phone call today with a coutner on the Blackmoor property, but I have to call back to see what the counter price is.. I also got a email about another counter but the seller only came down 800 bucks lol we're about 10 grand off! haha and I aint budgin!

SHORT SALES!

Well, if you have follwed from the beginning you'll know this was my first strategy of interest.. and lately i've been thinking about getting back into the game possibly, I can get short sale leads all day doing my own lead generation techniques.. but working them is the hard part, I know of several people locally and a guy nationally that is able to work short sale leads, and you just pay them once the deal is approved, i may look into this.

Anyway, i'm going to goto bed so I can get up early and go check out houses!

wish me luck!

Dennis

4 Houses, 3 Offers

Wasuuuuuuuup?

Well, today I was able to check out 4 houses and made 3 offers. Most of these houses are cookie cutter, with very little issues, paint, carpet, bathroom, fixtures.. you know the norm. One of the houses was a contemporary house (I like these in a weird sort of way) off a dirt road. I don't have any buyers that will want a hosue on a dirt road.. unless ofcourse the price is right, but my offer would be sooo low I don't forsee it even being worth offering, i know that goes against the rule of wholesaling. I'm just going to watch for reduction for a lil while.

I made a new contact as well with a lady who owns 130 something hosues (commercial and residential) in the area.. she wants to buy hosues but she buys very cheap so it may be tough to assign hosues to her.

Well, i'm going to get theses offers ready to fax over, i'm also going to be resubmitting several offers in which I have not heard back on.

Enjoy your weekend!

Dennis

Behind the scenes.

Alright,
I've received several emails from people asking what exactly I'm doing.. Lately, I've been posting the successes without posting the actual nuts and bolts of the transactions.

Just ot put things in perspective, i'm working with about a 1:14 ratio. One out of every 14 offers gets approved. Each week I strive to get out about 5 offers, sometimes more sometimes less depends on how busy I am.

In a nutshell..this is what I do. Saturday-monday/tuesday I'm browsing the MLS for hosues that fit my criteria, there are usually abour 600 houses or so to go through. Then out of that i have a list compiled of about 15-20 houses. Of these I usually pick the top 10 (with the best spread) then I go check them out. I go check out the houses, run repair estimates, then I come back home and run comps.. then I make write my offers up and fax them in. by late in the week.

Lately, I've been getting lists from several listing agents which is a big help.

What I need to do is spend some more time looking for buyers.. I have 2-3 dependable cash buyers but that's not enough.. I know I need more.

Well that's about it for now!

i'm tired and I gotta study for an exam tomorrow... no redbull this time though!

g'night!

Dennis

506 Clark... done deal!

Okay,

This property you may remember from a few posts ago. I mad an offer on this house, the seller countered, so i showed my potential buyer. Well, he pointed out a few more things that i totally missed so i had to resubmit my offer at 38,9k which was about 4k lower. The seller rejected the offer. 2-3 weeks go by, the listing agent calls me up tells me they have reduced it to 41k so i submit the same offer at 38,9k few days go buy.. today she calls me up saying i have 7 days to inspect and will close on or before dec 11th :)

Good news, especially since I have a buyer who already has expressed interest. I called him up let him know, he didn't answer but i know he'll be stoked about it as this week he was just telling me he wanted to buy more houses.

I feel totally jittery. I drank 3 red bulls and a NOS energy drink last night inbetween 7pm and 12am so i can stay up and study.. well needless to say i never did goto bed. I went to school directly from the library to take my exam (that I know I aced) but the residual affects are still lingering. I feel like i REALLY need ot be sleeping buy i just can't sleep.. i'm thinking about taking some tylenol PM or something.. it's the worse feeling. Ugh!

I took a trip to the mountains last week with my GF it was pretty nice.. we missed peak season by about a week though :(

Well, stay tuned!

Oh yea. I GOT A HUGE EBAY DEAL ABOUT TO BREAK THROUGH. You guys probably know that i really don't like ebay because i feel like i'm a customer service rep at beste buy ro something.. the problem is i dont outsource any of my work and i do way to many deals. it becomes a headache. Well, i've been working with a supplier who can provide an item for me.. this item will be GREAT , i can sell a LOT less of these and make MORE then i'm currently bringing home.. so i can sell about 50 of these and make more money then me selling 150 items of what i'm selling now..just thinking about that free time i'll have makes me smile :)

okay that's all! Have a good weekend!

Ughh ! but i do have a lcosing today :)

Hey, I feel so bad because I could'nt uphold my pledge. I actually had to goto Monsanto and present research, i just got back last night, it was totally last minute.

Okay,

Mt Olive Drive:
While I was gone, I got an email from the listing agent, they countered at 85,400 but there is still no way i'm comfortable at getting the property at that price, I'm going to be sticking to my guns with this one. One of my buyers told me the max he would pay for it (82) which is slieghtly higher then what I was thinking. So I countered back at 75k, my first offer was 72.9 and now I'm waiting on word from them. I have some room to move but they do need to come down much lower.

Today:

Today I'm scheduled to be closing on another property that I got under contract a few months ago, Kildar Dr. I got this one under contract back in septemeber, for some reason closings take forever in this state.

Last night I got back and scrubbed the MLS there were 4 new properties up within my area that I'm pretty excited about, tomorrow (or today if i have time) I'm going to get the lock box key and go check them out, they fit my criteria so we'll see how it goes.

Gotta run!

A new pledge!

Alright, i'm horrible at updating the blog on a regular basis, there is so much I wish I could share right now but it will just congest this post. What i'm going to pledge to do over the next several days is update on a single property. That way the post won't be too long, and it will get me back to posting on a regular basis.

We are going to start with a property that I am currently trying to get.

Mount Olive Drive:

This is a pretty nice (2005) raised ranch home, the problem is the entire basement has been flooded on several occasions it appears and about 3ft of vertical drywall has been cut out aroud the entire basement, so the whole basement has to be redone.

I first noticed this hosue when it was 109k about a month ago (it's listed on the MLS) I checked it out and got my repair estimate, about 12k. Now, 2 weeks ago it dropped to 89k , dropped 20k! So i went back out there, checked it out to make sure no additional damage had been done. I submitted my offer that same day, this was a friday. So the following monday when I was "scrubbing" my area for deals (I think that's what you call it? lol) i noticed that the hosue was listed at 95.9k , i was like WTF?! Well, my offer had allready been submitted..this was last monday, TODAY as in an hour ago i received a coutner.. and you won't believe at what price.. 89k! WHAT! how lame LOL

Well, i'm still on the fence on what I should do, I can move up my price to 75k but not much more. I'm going to talk with a few buyers and see what their thoughts are.

Okay, well that's all i got time for now time to goto a 3hour histology lab.. i think today we're checking out large intestin epithelium, oh joy! Then Physics II lab! YAY! :'(

See you tomorrow!

Dennis

3 Terre Street, accepted!

Okay,
Got an email a few hours ago stating they are going to accept my offer :) SWEET, they are accepting it at 50,298, nice. They can't close until november 21st, which is alright.. I have a buyer lined up who will be taking it for $55k

I think it's important to mention that previously I thought this was an REO, but it's not an REO, it's a private seller.

Here is the run down.

Comps: 109k
Listed at: 78k
Repair: $7k

First offer was $49k , they countered at $56, my second offer was also $49k lol , they countered then at $52k , so then I came up $500 bucks.. and they bit the bait.

I have a buyer lined up at $55k, but it can't close until the 21st so it will be a little while before it closes but it's good to know it's under contract, it will be about a 5k payday!

Dennis

More to come soon!