Mo’ Work – No Money
- Image by respres via Flickr
It’s only been two days since my last post and alot has gone down. Still ain’t got no money but…I’ve been busy.
On Friday, I met with some contractors at the wholesale property. I wanted them to give me an accurate synopsis of repairs and such, basically I needed some realistic numbers (not just my unqualified estimate) to better market the property. They pretty much said that the house could be done for 30K and they will give me an itemized estimate. It was good news to hear their estimate because that further cemented the profit-potential that I originally thought would be in the deal for a rehabber.
Today, I met with the lady who called on my Yellow Page ad who is facing foreclosure. The plan is still to partner with John Michailidis on this deal, we spoke on Friday and composed a rough game-plan for what’s to come. We still have to secure a Realtor to add to our team that has some flexibility to work “outside the box” a bit. Hopefully, we’ll be able to use the same Realtor that I’ve been working with for the past few months. I jumped the gun in meeting with the lady so early, but I could tell from the distress in her voice while on the initial phone call that she wanted to start working towards a solution ASAP. I got over there today, because I felt like if I didn’t she’d call up someone else.
I was very nervous going over there mainly because I feared that she was going to bombard me with a bunch of questions that I didn’t have the answer to and be able to smell how green I am. But I had a game plan. She lives in Rantoul, IL which is about 25 minutes away from Champaign. During the drive, the radio stayed off and I practiced my speil. I had studied on Friday night a little bit, so I pretty much just rehearsed that material. Stuff about how foreclosure works, the alternatives such as bankruptcy, selling the house, those pros and cons, etc. I was praying hard that I didn’t sound like a big fat newbie.
I got over to the house and we sat at the kitchen table (cliche right?) and I pretty much went through things just as I had practiced. And I also took time to learn about her and how she got in the situation and what her plans were to get back on her feet, toured the house, etc. I must say, I did pretty good. The crazy thing is, once you meet someone in a situation like foreclosure and learn about them, it tugs at your heart a bit. This lady is a divorced mother of three, had an abusive husband, just lost her job due to layoffs, and is a part-time college student. She’ll finish school in a year and a half and then she’ll have her RN (registered nurse) and will be back on her feet. But right now, she can’t find work anywhere and is still unemployed. Her story is definitely a tough one. I hope John and I can get the bank to cooperate and help her avoid foreclosure. She seems like a good person that is just going through some tough times. I gave her some homework to do before our next meeting. I also told her to email me her job history and I’d help her create a new resume. Maybe I can help her find something.
Also today I met with some prospective buyers at the wholesale house. These guys were much younger than me, maybe 22 and 23, which is refreshing. I like diversity. I get tired of dealing with people that are all cut from the same cloth, especially when they suck as human beings. They showed interest in the property, I mentioned the contractors that gave me the estimate and they’re interested in taking a look at their numbers and perhaps using them for some of the work. Sounds like an ultimate win-win-win. So we’ll see how that goes.
I’ve got two buyer appointments at the wholesale house tomorrow. One which is from a girl who plans to be an owner-occupant. I don’t know why I even setup an appointment for this girl, I think she’s going to waste my time. She almost got hung-up on when we spoke over the phone. After we setup the appointment for 2pm on Sunday, she says, “Ok, give me a call tomorrow and I’ll let you know if 2pm still works”. In my mind I was like “CLICK!!!!!”, I mean WTF, you want me to call your lame-ass tomorrow to double-check to see if you can keep our appointment! GET THE F*** OUT OF HERE WITH THAT BULLSH*T!!!! That’s what I felt like saying. But I just told her, “how about you just call me if you can’t keep our appointment”. And she agreed. I should still stand her ass up…just cuz. But who knows she may just be the one who actually buys, you never know.
That’s all for now.
- Dueces
