Wendell’s Weekly Wins and Whiffs

Welcome to Wendell’s Weekly Wins & Whiffs — your front-row seat to the real estate rollercoaster, complete with high-fives and facepalms. Every week, I’ll peel back the curtain on life as an active investor: the triumphs, the flops, and the lessons that hit harder than a surprise plumbing leak. Whether it's a flip that exceeded expectations or a deal that tested my sanity, you'll get the real, unfiltered scoop to sharpen your own investing edge.

Author

Wendell Butler
July 31, 2025

🏆 THIS WEEK'S WIN: Closed, Hacked, and House-Happy

After what felt like a never-ending uphill climb, I officially closed on my new primary residence—and house hack!

Since I recently made the leap from W-2 world to full-time investor/entrepreneur, conventional lending gave me the cold shoulder (they want two years of stable income... rude). So I had to get scrappy and went the Non-QM route, using a 12-month bank statement loan based on my business income.

The house? A quirky 1 bed/1 bath with a tiny home/ADU in the back—and absolutely zero good comps. It took three appraisals and a dramatic attempt at a fourth (which my loan officer heroically shut down) to get it done. Add in some spicy seller drama for good measure, and we finally crossed the finish line.

The payoff? $30K in instant equity thanks to an above-purchase appraisal. Even at an 8.25% interest rate, the property will cash flow with an 18%+ projected CoC return as a future Airbnb. Once we move out and refinance into something closer to 6%, that bumps to 28%+.

Moral of the story: live in it first, fine-tune the systems, cut your housing costs, and roll into short-term rentals without diving straight into the deep end. Not bad for a “starter home.”

P.S. Shout out to Ryan Richards (Loan Officer) and Drew Bartek (Real Estate Agent) for getting this done for me. If you want to reach out to them, see their contact below (tell them I sent you so they like me more):

Ryan Richards: [email protected] 

Drew Bartek: [email protected] 

🤦 THIS WEEK'S WHIFF: Déjà Vu Deal Drama

Guess who’s back under contract? A flip we already had tied up months ago—before the seller ghosted like it was a bad Tinder date.

Fast forward to today: same house, same seller, and surprise! Same drama. We still like the numbers (projected $35K–$40K profit), but the seller is playing hardball again. This time, we’re buying through a wholesaler and warned them ahead of time that the seller is... let’s say, emotionally flexible.

Sure enough, come closing day (last Friday), the seller decided not to sign and tried to squeeze us for more money. Thankfully, the wholesaler stepped in, calmed them down, and got the deal (temporarily) back on track. We’re now bumped to a new closing date next week, but I’m giving it a Vegas-style 50/50 shot.

Welcome to the glamorous world of flipping: missed deadlines, flaky sellers, and constant curveballs. But hey—adapt, adjust, and keep swinging.

🎯 TACTICAL TIP OF THE WEEK: Mortgage the Unconventional Way

Full-time investor or entrepreneur? Congrats—you’re living the dream. But good luck getting a traditional home loan without two years of steady income.

To stay finance-ready:

  • Keep clean, consistent business bank statements

  • Maintain solid reserves

  • And look into Non-QM loans like bank statement products

Yeah, they come with higher rates—but they keep deals alive while you’re building your track record. Most importantly, work with lenders who get investor income. Get pre-approved before you're under contract so you’re not scrambling mid-deal like a cat in a bathtub. Another shout out to Ryan Richards here, he gets it!

🔦 FROM THE FIELD: Crawl Before You Close

Want to know what really kills rehab budgets? Not bad paint colors or ugly tile—it’s what’s hiding in the crawl space.

Rotten joists, mold, standing water, insulation issues... the nasty stuff that doesn’t show up in Zillow photos. Always—and I mean always—crawl before you close.

Check out these photos from a flip we’ve got under contract. Yeah, it’s a little intimidating. But with the right contractor and game plan, it’s just another problem to solve.

So... would you walk away, or dive in with a flashlight and your contractor?

🎤 FINAL WORD

Real estate isn’t all passive income and beach laptops—it’s negotiations, surprises, and a whole lot of grit. But every win makes you stronger. And every whiff? Even more so.

Keep showing up. Keep learning. And keep stacking wins—no matter how messy they look on the way there.

Be on the lookout for our monthly deep dives with active deal breakdowns, renovation recaps, and ways to partner up.

Let’s keep building,