Accountability Tuesday (well Wednesday Morning really)
January 27th, 2010
Archive
Archive for January, 2010
Blue Prints
January 20th, 2010
Bloody, but unbowed
January 19th, 2010
Beacoup Offers
January 17th, 2010
I’m running into a bit of a hiccup.? This 40 offer a week thing is quite the task.? I’ve got 10 down and 30 to go.? However, I’m kind of running out of properties to offer on that fit the category for which I have buyers for.?? Thus far, I’ve been targeting some properties that are listed on the MLS and others where the owners respond to my ads.
Uncategorized
Come together like butt cheeks
January 15th, 2010
I’ve got good news and that is the latest wholesale deal is coming together like butt cheeks.? I received the completed appraisal today from my appraiser via email, I then forwarded it on to the head guy at the DHFS. I waited about 3 hours and I gave him a call.? I didn’t expect it, but he was ready to wheel and deal right-then.? He saw the CMA that I had submitted to him in my short-sale package came in at about 9K and the appraisal came in at 11K, he offered to split the difference at 10K.? I countered and asked if he could knock 1K off and take 9K, he agreed to only if I ate the cost of the appraisal (which initially he offered to cover).? We had a deal.
Slowly But Surely
January 14th, 2010
I’m still in ROBOT mode and plan on being there indefinitely. Since I’ve ramped up my offers, I’ve got 1 more potential deal in the works. Just to give a brief synopsis of it, it’s a property that’s literally 2 blocks from the wholesale deal that I’m currently working. This property is listed and has been for a long time and for a price that’s way too high. Way too high when you have the intel that I do. And that is, after some research, I know the property is just a few months away from tax foreclosure. It’s been tax delinquent for 3 years and in the state of Illinois the owner has a redemption period of 2.5 years from the date of the first tax sale. Translation: this owner’s redemption period runs out by April 2010. Once tax-foreclosed, it’s a wrap for them. I hope to get in and seal a deal that get’s them a few bucks for moving expenses and that’s it. I’m not the type to take advantage of people, but this property location and it’s condition won’t allow me to do more than that. Hopefully, I’ll have some good news about that one soon.
I am ROBOT
January 12th, 2010
Cali Kush
January 10th, 2010
I’ve started receiving responses from the Capstone Condo owner direct-mail campaign.? These letters went out last Tuesday so it’s still a bit early yet to tabulate all of the results.? Using this yellow-letter method, I was hoping to get a higher than normal (3-4%) response rate.? Yellow-letters typically get a 10-15% response rate.? I’ve only received 4 responses thus far, so that’s about 2% of a response rate since approximately 200 pieces were sent out.? And all 4 of those responses are owners from Illinois.? I need for some of those Cali buyers to give me a call!
Uncategorized
We’ve got a pulse
January 8th, 2010
The latest wholesale deal is still kicking, I haven’t lost it yet.? Let’s just say it moved off of life-support but it’s still in the ICU.? During this week among other things, I spent some time wrapping up the details for getting this thing closed.? I now have a CMA from my Realtor, plenty pictures, and a rehab cost estimate.? These documents, along with a letter describing my motives for wanting to purchase this property (assign) and revitalize the neighborhood starting with this house, will be sent to the appropriate parties.? The appropriate parties being the 3 parties that have liens on the property.? There are a total of 4 liens on the house.? One being a tax lien.? The others by DHFS, the city of Champaign, and Champaign sewage.
Accountability Monday – 1/4/10
January 5th, 2010
Accountability Monday once again.? And I didn’t accomplish my goals.? This accountability stuff is embarrassing when you don’t get the job done, but I guess that’s the point!? I’m going to keep the same goals for next week as I had last week.? But, I’m going to make it 40 offers instead, I need to make-up for lost time.