All Forum Posts by: Brooks Rembert

@Sarah Miller

The easiest way is to refinance with a conventional loan assuming your ARV is high enough to give you he 75% equity you'll need to refinance an investment property.

I suppose I stand corrected. Looks like up to a six unit is possible.

I've used it for several months and had a moderate conversion rate. But, out of all the conversions, I only had two leads, neither of which panned out.

I was constantly tweaking and A/B testing, so I feel I was on the right track, but after a while, decided it wasn't worth the money.

I was very targeted with my geography and wound up paying about $1.80 per click and was in the 1.5 - 2.0 spot the majority of the time.

@Account Closed

I believe Albert is correct in that you can't combine them. I have a VA loan and have never heard of that option.

An efficiency is usually a studio apartment, i.e. no separate bedroom. Usually just a kitchen, bathroom, and living/bedroom.

@Mike Landry

 We have three rentals and got an umbrella policy after we closed on the third. I may be a little risk averse, but it makes me feel better.

As our attorney put it, if someone sues you and the insurance company is on the hook for only $300,000, they'll send their C team folks to try to settle as quickly as possible. When their on the hook for $2 million (the amount we got) they're sending in the A team.

It all comes down to your own feelings, but for us, it helps us sleep a little better. And it's relatively inexpensive through USAA. We pay about $350 per year for $2 million of coverage.

@Joshua Iachini

My wife and I have done the same thing; lived in a house we bought with a VA loan, then moved and now use it as a rental.

If you're certain you will sell in 3-5 years, let it stay as an ARM, as I'm sure it's a lower interest rate. And no, you aren't obligated to refi at all.

@Natasha M.

 I've used both Listsource and AgentPro247. Listsource is considerably more expensive and I haven't noticed much difference in data quality.

Hope that helps.

Great work on getting the calls. 17 out of 500 is about a 3.4% call back rate, which is OK. What was the copy on the postcard?

My wife and I sent out 400 letters in the past month and got an 8.7% response rate and were a little overwhelmed trying to field the calls and call back after work.

No deals came out of it, but we're continuing to push on. I do believe direct mail is a great medium, but I'm not necessarily sold on postcards. I think our response to the letters was higher then what we would have gotten off a postcard.

@Ralph Pena. I'm not sure about reporting people who have lost a judgement. For credit reporting, we use eRentPayment and the tenants have an opt in option so that when they pay the rent via bank draft, debit, or credit card, it gets reported to TransUnion as a good payment. Hour that helps.