I had 2 lay-down appointments in a neighborhood in Philadelphia that is blowing up. They were both a sure thing. Assignment fees for each property would easily fetch between 15-20,000.
The last appointment of the day was to solidify the assignment on my biggest wholesale fee to date. A quick walk through of the property put me a week away from a $50,000 assignment fee. In addition, the buyer had my management company slated for an additional $50,000 in repairs on the building.
Yesterday was a $90,000 day…on paper.
My first appointment was with a woman born with Moses. She was sweet and cordial. She wanted me to buy her house. She even accepted the price. But she could not see to read the contract. No deal.
Appointment number two went better. I was on my game. I set up the perfect structure for a win-win scenario. I got the price right where I needed it. The seller got a deal that got him to his goal. It was a perfect situation. But the guy had to talk it over with his wife (Wait! What wife?). No deal.
To cap off my afternoon, the seller of my largest wholesale deal ever canceled the walk through on his property. Damn!
I’ve had other rough days in my investing career. There was the day I found out my general contractor moved out of the state (not sure where) the day after I gave him a $20,000 deposit. Then there was the time I got a call the day after closing from an investor who bought a wholesale earl from me. The seller sold a property she did not own and I was stuck in the middle. There have been other bad days.
But after 8 years in this business, I know it’s just one rough day. It’s not the end of the world.
Today I had a $105,000 day.
One of the leads I ran yesterday sent me a signed contract. I settled on a wholesale deal this morning and that “biggest wholesale deal ever” was finalized for a settlement next week. I also signed a contract on another wholesale deal this afternoon. All-in-all it was a pretty great day.
Life doesn’t always go according to plan. Just smile and keep working toward the goal. Everything will work out just fine.