My first adventure

[Tony Ho]

Today I went to do a drive-for-dollars, I don't know if I did this right or not. I went through an area newly developed, so there were no old and run down homes, but there were homes for sale and rent. So I took out my phone and did a quick tax assessor and found out that the owners are out of state. I took down the mailing address and thinking of sending them a postcard asking about the house, is this a good move since the house is in a new area?

Also, I went to meet with an appointment, this house was on craigslist for 92,000. It needs at least 6,000 for rehab, I also found out that the owner has a mortgage for 80,000. She would not go lower than 90,000. So as a wholesaler, I bid my farewell and told her to please keep me in mind and rethink my offer if there are no other. I was originally aiming for 75,000, knowingly I would not make much from assignment fee and it would be a tight call for my buyer so I did not want to continue. She said an investor was harassing her with phone calls with an offer for 20,000. 

Then, around the corner, there was another house for sale by owner. I was glad, then i made a phone call there and scheduled an appointment within an hour to check out the property. The house ARV is around 110,000, he got an offer for 89,000. My first issue with this was, he is not a motivated seller, he is a retired investor who just want to sell all of his properties. That right there is what got my offer denied (80,000). The owner wanted to sell the house to next door neighbor (89,000 offer), but it wouldn't go through until April (so i hope that he will call me back and accept this offer). I also called some FSBO from craigslist and came across other wholesalers, i took this opportunity to make friendship and ask for mentorship from the other wholesalers.

Then before the sun set, i found a not tally broken down house, but the front window curtain was broken, so i took this chance and dropped a note on the door.

I learned a lot in one day, i hoped i would be able to make at least one deal but the knowledge i received from my failure was awesome. I am doing this part-time because I'm an active duty Army. I hope to learn more from everyone from BP and help to give me advises to take my real estate investing career to financial freedom.