What a roller coaster ride REI can be!

2 Replies

Its been a crazy 2 weeks.

8/22 - I was set to close on a house I was buying for cash. I had to wire the money to the closing attorney, but they actually sent me the wrong wiring instructions. Long story short, $14,000 floating around and no one knows what to do. To make it even better, I had to wire another $14,000 to the proper account to close on the house or run the risk of losing the deal. Yay!

8/29 - A week later and still no sign of my money being returned to my account. I am assured it is ok, but no cash! And, I am set to close on another house so I have to wire another $40k. At least it made it to where it was supposed to this time!

9/2 - Really starting to get mad about my money not being returned yet, so I started calling and being a squeaky wheel to anyone I could get to answer. Still no luck.

9/3 - I get a call from the buyer of one of my flips and he tells me the closing date has to be pushed back a few weeks because his USDA loan is being delayed. I was really mad at this point. Not at him, just mad at life!

9/4 - Finally, the clouds start parting. The money finally made it back to my account AND I get a call from my buyers loan officer telling me the closing date has been moved up to this coming Monday. Wow, what a turn around in just 24 hours.

I know this was a long post, but its just an example of how you have to hang in there and keep working at things. Just when it seems its all going to h*ll, it seems to work itself out. So after a rough couple of weeks, this next week should be a great one! The flip I'm closing on this week is going to be a very nice profit, so its all good now!

@Austin Lee   I think this is a great post of what the life of a real estate investor is really like.  Things can change for the worse of better very quickly.

@Austin Lee  This post gives me hope:) I know that may sound strange as you are mentioning the stress of it all! I feel that I am ALWAYS on the "cusp" of things happening.... as you say "hang in there and keep working at things." Ride that roller coaster! THX

Free eBook from BiggerPockets!

Ultimate Beginner's Guide Book Cover

Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!

  • Actionable advice for getting started,
  • Discover the 10 Most Lucrative Real Estate Niches,
  • Learn how to get started with or without money,
  • Explore Real-Life Strategies for Building Wealth,
  • And a LOT more.

Lock We hate spam just as much as you

Join the Largest Real Estate Investing Community

Basic membership is free, forever.

By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.