I visited the rehab house that I wrote about on Friday and checked out the interior. This house was completely gutted with no electrical/plumbing. I only checked out the inside due to the suggestions of other investors, but I had no-idea what to look for. I took some video on my flip mino, so when I get a chance I’ll post it here. The seller is extremely motivated, so I think I’ll counter his $5K counter at $3K, then see if I can find a rehabber to take it for $10K. Maybe I shouldn’t talk numbers on this blog because more people read this than I know of. Oh well. A $7K come-up would be fantastic, but I could settle for $5K.

I hit the jackpot in regards to adding to my buyers’ list. I figure that the all of Section 8 property owners are investors themselves, so I called up the Section 8 office, posed as a student, and asked for the property addresses for all of the Section 8 properties around town for demographic research (I was going to reverse-lookup and find the owner info by address). They shot me down and said the information is sensitive and they just don’t hand it out. So about two weeks later, I called as an interested property owner that wanted to offer his properties for Section 8. I asked for an application, handbook, and other Section 8 property owner info. Jackpot! As I type, I’m looking at this packet of information containing the property address, contact person, and telephone number! Pure Gold! I bet I could go down the list and cold-call (rather hire a VA to do it) each Section 8 property owner to see if they have interest in the rehab house. If they don’t, still add to the buyers’ list. If they do, I may have my $7K in hand soon.

In about two hours, I meet-up with a local wholesaler who is newer than me. We’re going to talk about strategies here in town, future joint ventures, etc. I’m a little upset because I forgot about this appointment until just now and really was set on going for a long-run outside. Looks like I’m stuck indoors at the gym tonight. Still gotta get it in. I ate a bunch of garbage last weekend, I need to get back on point.

Tomorrow morning, I meet with Shane at a property in St. Joseph. I plan to do the same with that property that I did with the property on Duncan Avenue (floor plan, video, pics, website) and perhaps make a flat-fee for marketing. However, this time I have blank white corrugated plastic bandit signs on the way (100 quantity). With stakes, they cost me $178 at SignWarehouse.com. I’m going to blast all of Champaign County this Friday night with these signs. My phone will be on fire! I can’t wait. This reminds me, I need to get PATlive service situated before this Friday, so they can field my calls instead of having them go to a voicemail box.

- Justin

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