Bingo!

Wow, it's been over a week since my last blog post. We were really fortunate to be spared by Hurricane Ike down here in the South Florida area. Our hearts and prayers go out to those in Haiti, Cuba, Galveston, and Houston who were impacted by the storm. I've dealt with major home damage from hurricanes before and it is a real pain...but nothing compared to what some of the people on the islands have to deal with.

This past weekend was pretty productive. We put out our bandit signs for the first time. I can see this getting old fast though and understand why people pay others to do this. It takes time...and while putting them up isn't so bad, its having to take them down less than 72 hours later that's a real drag! Some of our signs were missing when we came back to pick them up, but we fully expected that to happen. We got 3 calls from the signs so we'll see what comes of that.

On Friday I hit pay dirt. We've been looking for a company that would provide a proof of funds letter so we could make offers on some REOs. The hard money lender didn't want to give the letter unless they actually checked out the property and new it was something they wanted to back. Makes sense but when you're trying to do offers in volume it doesn't help too much. So what I found was companies who do "Dough for a day" loans for back to back settlements -- typically costing about 2 points. Not bad if you have a great deal on your hands don't have a lot of cash laying around or a private money lender. The company will provide our proof of funds letters so we can make cash offers on properties as soon as this week. So we're going to get busy. We have a number of properties that our realtor friend sent us on the MLS. Plus we're going to go through some of the REO properties listed from the banks and contact the listing agents directly.

Goal by Friday of this week? Make 10 offers on properties.