Industry News

New house flipper rule: Tell ’em

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

One cycle ends as the Montclair, N.J., house slips through my hands. My mortgage connection, the lender who brought me the lead, had been very interested in helping me see the house before Christmas. But we had never been able to get in, and then the mortgage broker had disappeared for a couple of weeks, and I just found her again. She apologized for having been out of touch and said she'd been working on a FSBO. "That's okay," I said, thinking, "well, honey, I'm not running off to make mortgage loans." But anyway, I smiled into the phone, and she said she hadn't talked to the owner, and I finally said, just give me the owner directly. And I called the owner and she said she was no longer interested in selling the house, and I thought, that's that. I'll follow up with a letter to her house – something she can keep around just in case – but I wonder if I blew it. Should I have contacted her earlier? I got a letter from a reader asking if I needed a coach and I didn't answer...