Many of my house flips I buy from wholesalers. A wholesaler finds a deal, and then sells it to another investor. I have been buying houses from a large wholesaler in Colorado, who use buyer reps to sell the deals. The buyer reps get a commission when their buyer purchases a house from the company. The buyer reps are pretty aggressive.
Usually there is an appointment for all the interested buyers at a particular house. The buyer reps are with their buyers, and sealed bids are submitted at the house to see who gets the deal. However, my buyer rep text me at 8 PM on Friday saying they had a new deal being released to their buyer list at 8 AM the next day, but it was a first come, fist serve deal. Whoever got them $10,000 in earnest money got the deal, but you had to have a cashiers check.
I could not get a cashiers check on a Friday night, but I asked my rep if they would take a personal check if I drove my Lamborghini to the deal. He agreed! However I had to see the house at 7:30 AM to beat the other investors. I agreed to be there are 7:30 in the Diablo as long as there was not snow on the roads. Then I got a text from him saying another buyer rep would be there at 7:30 and we had to be there at 7. Luckily the other buyer rep was bragging about how he would get there before the house was released and told everyone what time he was going.
I woke up at 6 and it was snowing, but the roads were just wet, no ice or snow. I stuck by my word and took the Diablo out for its first snow drive.
The car is all wheel drive so it does just fine if I am careful. I got the house and the wholesaler rep showed up a couple of minutes later. He loved the car, we saw the house, and five minutes later I told him I would take it. I wrote him a personal check, and he sent me the contract right away through docusign. I even gave him a ride.
I guess the other buyer rep and investor were super pissed when they showed up at 730 to learn the house was already sold. I did have to go get a cashiers check as soon as the banks opened at 9 and text a picture of it to my rep.
I am buying the house for $192,000, it needs $25,000 in work and will be worth $270,000 or so. After a slow start to the year buying houses, things are picking up. I will be buying 4 on the 30th!
Here is more info on buying from wholesalers: https://investfourmore.com/2017/02/20/how-to-get-a-great-deal-from-a-real-estate-wholesaler/
Impressed you took her out in the snow! I barely take any of mine out when it's raining... Glad things are picking up for you :)
I rarely take mine in the rain either. I accidentally got caught in the 928 in the snow once. I tried driving the Mustang in the snow and ran i to a curb when I was younger lol.
Haha, good job :) I won't tell you what I did but I'll show you... my one and only whoopsie, back in 2006 with my old 2005 STI
Oh man, not good. I don't have a pic handy, but I flipped my 90 Corvette into an irrigation ditch in a rain storm in 2000 or so. I had to break the window open to get out, although the water was only 2 feet deep. I didnt know that when I was trying to get out. I literally found a crawdad in the cad at the towing place when I went to get all my stuff out.
Sounds like you had the right tool to get the job done. The right mind to think outside the box. :) The car was a bonus.
Thanks
Good read. The car looks really nice!
Thank you!
Wow! I'm very surprised that it is all wheel drive. You might as well drive it in the snow. lol Do they make snow tires for it? lol
Yes, they actually do!
If you ever did get snow tires you should do a video driving in the snow video! lol
A couple more of those deals and the Diablo will be paid for!
The Diablo has more than paid for itself with the people I have met and the marketing it provides! This was a bonus.
Wow! I guess I need to get a Corvette! Just need a few grand to spare. lol
Bling cha-ching. That's the way to get r done, man! I was hoping you'd give him a ride, lol! It's the right thing to do. You continue killing it! Good for you!
Thanks man, yeah I have no problems giving rides to people. For a while, I ran a promotion that if you bought a house from my team, you got a free ride.
Great idea! Haha.
Nice connections and strategy... Congrats!
beautiful lam
Your story reminds me of VINWiki, especially Ed Bolian. Good read!
Quite the sight ;) have fun!
Awesome. Sweet and impressive..... Being into the game as well. Goodluck in your endeavours
Hello investfourmore,
I should call you the Real Estate Hustler or should I call you Lamborghini the real Hustler.
Your Lamborghini looks like making you money so you will keep it and not sell it.
fantastic photography @investfourmore... keep it up good work cherrs..
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Oh que bien, y hermoso lamborgini amigo saludos.
@calitoo
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