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All Forum Posts by: Brian W.

Brian W. has started 19 posts and replied 60 times.

Originally posted by Rob K:
She said, "No. But my feet be cold."

Hahahahaha!!! No matter how many times I go back and read that it still makes me laugh out loud. My freaking feet be cold. Hahahahaha!!!

What are the top three (or more if you're willing to share) types (regarding subject matter, i.e. water leak, A/C broken, etc.) of phone calls you get from your tenants?

What is the best way to protect home from water damage from a leak?

It can be hard enough to protect my own home from damage from a water leak (especially if no one is even home), much less with a rental.

Does anyone have any experience with any of the automated products, such as Watercop, that are designed to automatically shut the water off if a leak is detected?

Post: Pre-approval: how to keep maximum amount a secret from seller and agent?

Brian W.Posted
  • Peachtree City, GA
  • Posts 60
  • Votes 1
Originally posted by David Niles:
You shouldnt be worried about your agent knowing what your max approval is because they submit the offers you make, so you decide what you want to pay not them.

On the other hand, selling agents here require a pre approval letter submitted with any offers before they will consider them, those letters we only have done to the offer price we are making, your lender should have no problem making you additional ones higher if needed.
Bottom line is, its human nature to see more and then ask for more. Your top line isnt the sellers business, just the dollar amount you are currently offering.

Very well put. Thanks a lot David.

Post: Pre-approval: how to keep maximum amount a secret from seller and agent?

Brian W.Posted
  • Peachtree City, GA
  • Posts 60
  • Votes 1
Originally posted by Bill Gulley:
As Wayne mentioned, it will look better. If I got an offer at 96K and saw a POF and a committment at 96K or a 100K, and at the same time was considering an offer at 95 with a committment at 150K, I'd probably take the guy with the 150K letter, better chance of doing the deal! Of course I'd counter the 150K guy, but I'd be targeting him more than the other guy. :)

Yeah Bill, this is what I think I will do. If they counter with a higher number than I'm willing to pay, I'll simply stick to my plan and indicate I'll walk away just as I would if they had no idea how much I was approved for.

Thanks for your advice.

Post: Pre-approval: how to keep maximum amount a secret from seller and agent?

Brian W.Posted
  • Peachtree City, GA
  • Posts 60
  • Votes 1

Thanks for everyone's replies.

Now I just have to decide whether I want to have a separate letter emailed to me for every offer I make that shows I'm qualified for that dollar amount or if I want to have one letter that shows I'm qualified for quite a bit more than any offer I'm going to make.

Post: Pre-approval: how to keep maximum amount a secret from seller and agent?

Brian W.Posted
  • Peachtree City, GA
  • Posts 60
  • Votes 1

How do I keep the maximum amount I'm approved for private from my real estate agent and the seller?

I don't want either one to know the maximum amount I'm approved for. All they need to know is I can afford the home I'm looking for.

Originally posted by Craig P.:
Honestly there is really not a simple answer to this question. Most savvy investors use several strategies to drive leads/deals. We cast a wide net out into the market and get leads from a variety of methods.

Buying deals via the MLS in Denver is extremely challenging. Due to the market conditions being incredibly strong deals go well above what they should go for.

Here are a few ideas...we have bought deals via all these strategies.

1. PPC on google/bing
2. Direct mail
3. Other wholesalers
4. referrals/word of mouth
5. Other agents
6. Estate sales
7. FSBO's
8. MLS
9. Probate attorneys
10. Craigslist. For Sale by owner section

Good luck.

Fantastic advice. Thanks a lot Craig.

Originally posted by Frank Iglesias:
Marketing and Networking constantly. They are there to be found. MLS is tough now in many markets but you can find a deal out there from time to time. Got to stay on it though. Off market is available right now. Talk to wholesalers. They dig for these deals regularly.

Do wholesalers work with people who are planning to get a conventional mortgage?

This is all great advice. Thank you very much to Karen, Taylor, Bill, and Dev.

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