Real Estate Investing Forums

Real Estate Investing => Bird Dogs, Wholesaling => Topic started by: Randoskie on February 24, 2018, 12:21:47 pm

Title: My Mom is Losing her House because of You.
Post by: Randoskie on February 24, 2018, 12:21:47 pm
I got a call from a girl named Donna that wanted to sell her Mom's property in a nearby town. It's a nice spread with 4 1/2 acres and a nice home on it and a 1/1 bungalow house. Had barns and the pasture is rented to neighbors that have cows. Big trees and chickens and ducks. Her Mom wanted 340K and I offered 240K.
She says they cant do that but her BF has a house he will sell for 240 and gave me the address which is near where I live.
I got the BF's house on contract the next day and sold it in 20 minutes for a 20K assignment fee that's supposed to close any minute. The tweaker house.
So anyways this girl Donna was insisting I come out to look at Mom's house, when I got there I noticed instantly she had that zombie tweaker look, (I can spot them a mile away)
The place looked like it wud easily be worth 340 so I got it on contract and sent it out with no takers and I put some ads in Craig's List. Not one call. I sent Mom a letter of cancellation right away. I just said my partners wont commit and I'm cancelling the contract.
Holy crap, this Donna is queen of psycho tweaker hell. She starts txting me that now her mom was losing her house because of me and I was in breach of contract. I replied back, Sorry, what happened to your other buyer at 320K?
It didn't make sense to me cuz they told me her Mom only owed 70K on the mortgage.
She had sent me another property and tells me they are not interested in selling to me and a few more txts and I didn't reply. A few days later my buyer John said he wud take it at 300K and I txted Donna that I found a buyer for her Mom's house. I told John to cut me a 5K finders fee.
I had offered Donna a $2,000 finders fee on the other property including her Mom's. But now she's asking for a finders fee on her boy friends' house.
I txted her that I wud pay her the 2 grand but I needed a photo of her holding the cash for my scrap book. Did I mention these tweakers are paranoid and psychotic and mentally unstable, and that's their good points.
She says OK but wants to know how many others are in my book. So now I'm thinking, I gotta pay my sis 2 grand, 10% for doing all the post cards and another 2 grand to Donna and then there's my 1200 to $1,500 in direct mail costs, of course that cost is offset by the 15K deal that closed last month. Now Donna says the other house is available for 190K and has an ARV of 220K and is 30 yrs old and will need carpet and paint and some upgrading, whoopee.
So I'm still looking at a 15 or 16K payday from her BF's property that I wouldn't have with out her.. The thought crossed my mind to not pay her and deal with the future Karma hell.
What would you do?
Title: Re: My Mom is Losing her House because of You.
Post by: javipa on February 24, 2018, 03:26:02 pm
No criticism here, but have you considered a mailing service such as Click2Mail, instead of promising your sister 10% of your profits?

I'm thinking that giving up that much of my deal to free myself from hand addressing and licking envelopes, is worse than a self-licking ice cream cone.
Title: Re: My Mom is Losing her House because of You.
Post by: Dmccright on February 24, 2018, 03:45:11 pm
No criticism here, but have you considered a mailing service such as Click2Mail, instead of promising your sister 10% of your profits?

I'm thinking that giving up that much of my deal to free myself from hand addressing and licking envelopes, is worse than a self-licking ice cream cone.

Click2mail is affordable but there interface is a bitty. I usually just pay yellowletters and are done. Then again I send out 1000 at a time. Just my. 02
Title: Re: My Mom is Losing her House because of You.
Post by: Randoskie on February 24, 2018, 04:44:09 pm
Haha, OH, I know I cud save myself tons money and indescribable frustration.
Imagine this, your 60 yr old sister that's slower than a hibernating turtle with 3 legs, that had a stroke with limited fixed income, and a bad attitude so bad that,,,, and I cud go on and on.
But it feels really great to hand her these chunks of cash she desperately needs and the smiles and hugs.
Title: Re: My Mom is Losing her House because of You.
Post by: javipa on February 24, 2018, 05:28:44 pm
Oh, man. 

OK, you're the man.  Helping someone feel needed, capable, AND dignified is pretty much ...well I can't think of anything more worthwhile.
Title: Re: My Mom is Losing her House because of You.
Post by: Terri Ring on March 02, 2018, 07:02:27 pm
Randoskie you sound like you are getting some great opportunities and passing your great fortune on to your sister. I hope it continues for you. I need a brother like you lol