South Miami, FL · Member since 2018 · 21 posts · 6 votes
Hi, I am starting the process to buy a house. I plan on cold calling around neighborhoods I want to live in to find a great deal. I've done it in the past, just not to buy a house, more prospecting for listings. This time, I want to cold call and make an offer myself, using FHA financing. What pitfalls or blocks can you see occuring?
One problem I see is me not having a house selected by the rental period ending, or finding a house too quickly.
The questions I have are:
A) Are there any things I should watch out for with FHA, pertaining to off market deals?
B) The real estate team I work on pays for phone numbers by geography, not necessarily probates, absentee owners, etc. What in your opinion is the best demographic to target for regular people who want to sell their house and allows me to get a great deal?
Walnut Creek, CA · Member since 2015 · 3k+ posts · 2k+ votes
8y
FHA has lot more condition requirements than conventional... and it could be tough sell to talk an owner/landlord into accepting it. You're only going to be able to go after good condition houses... which probably does not equal a motivated seller. If you did 203k you could get rehab but again that's new set of challenges to deal w/ the contractor and scope of work.