Well, long time no blog! I'm back from Vegas. It was tough. I took massive action and what I thought was extreme focus. I'm psyching myself out trying to stay positive. I can consistently find deals that are about 10k less profit than my money partner requires. VERY frustrating at times. No word yet today on my offers. I have heard on a couple over the weekend that were a no go, they are keeping my offer as back up...that's ok. Vegas is friggin' huge!! I only focused on a couple parts of it.
I met Scot while I was there and we checked out a burn out that his crew had responded to when it was a fire. (Scot is a firefighter in Vegas) We checked out his deal he just got accepted. Nice corner house, great area.
In Vegas they have a 2 stage pending, so the listing is c for contingent first, then when everything is in line and they are just waiting for closing the listing is marked pending. So, I go after the c status listings when the estimated close date has passed and see if I can close the deal with cash. On some, the agent has wanted the offer to be more in line with the 'current value' (like the prices have gone up! pffft!!) silly agents! On some, the agent was asking if I would like to take care of some other stalled deals they had. Some the value wasn't right and it wasn't a deal. This strategy is called 'pending hijacking ala Craig Fuhr style'. :) I have met a few listing agents this way.
I met a buyer agent who wanted $1000 a month to submit offers, BWaahh ha ha ha, belly laugh. you go sister love, if you can get that! I waited till I was outside to start laughing.
Most of my time there was spent checking out pendings , getting a feel for values and looking at available shortsales and reos. I missed out on 3 KISS flip deals because I wasn't quick enough. My hotel room was full of organized piles of mls research all over the floor. It was overwhelming at times but I did it!! I had a cool GMC Acadia rental car, it was a step up from the minivan :) I felt really safe driving around.
The first Friday was fight night in Vegas! I was offered tickets to the Mayweather fight at the MGM but declined (I had work to do) I kept clicking over and hitting refresh to see the results. AND the ufc bouts were televised on a huge screen at all of the Station Casinos for $20 which included hot dogs and brewski's. Yet, I worked. (such resolve)
I also was offered tickets for Flogging Molly on Thursday, no rest for the wicked eh? Speaking of "eh", A realtor told me that Canadian investors are coming to town in groups! interesting trend we are seeing in way North Las Vegas.
Nothing much to offer this blog time, just wanted to check in and keep accountable. I'm headed over to get Steph's ebook now. Funny, I only got one email blast about it. :) I think she should make it mp3 and sell the audio book too!
Lowballing MLS Listings…Yay or Nay?
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