All Forum Posts by: Jacob Thorpe
Jacob Thorpe has started 18 posts and replied 115 times.
Post: Am I being unreasonable or should I change my realtor?
- Lender
- Lake Geneva WI, USA
- Posts 118
- Votes 55
Quote from @Boddupalli Sai Praneeth:
I have a realtor agent who has been good with showings. The problem that I discovered recently was he negotitates with me regarding the offer price. It has happened thrice in a row. I feel like all my energy is getting wasted in convincing my realtor to put an offer. Had he put an offer I would have known the outcome of my approach.
Following is an example of what happened in the last deal.
The seller's motivation was to upsize.
I offered with x amount and my agent came with a feedback saying that the other party would be interested only if I raise the offer by $20,000 more than what I have initially offered. I told my realtor to do any of the following.
I am fine with raising my offer value to x + $20,000 but I want something in return as my budget was x + $10,000. I asked my realtor to pick any of the following options as condition.
1. Boiler had to be replaced.
2. Shingles need to be changed.
3. Can bear my closing costs.
4. They can leave all the appliances along with dining table and chairs.
5. Since the heating was outdated I asked to get forced air AC + Heating with duct installed (This sounded unachievable to me as well)
To my surprise my agent argued with me saying that they would not accept any conditions and did not put an offer in the end.
Am I being unreasonable or should I change my realtor?
I change realtors the second they show any signs of weakness. Your property, youre in power, dont let a smooth talking realtor or contractor make you feel differently. If they're not marketing or property searching as hard as you'd like then move onto the next one until you find one who understands the grind and actually works for the commish.
Post: What would you do with $150k+ ?
- Lender
- Lake Geneva WI, USA
- Posts 118
- Votes 55
Stocks suck buy real estate cheap and add value, sell or refinance and repeat
Post: Panic sales starting to pop up in the Smokies: Approved short sales
- Lender
- Lake Geneva WI, USA
- Posts 118
- Votes 55
Quote from @Collin Hays:
I assumed we would start seeing this as the summer peak neared. I predict the market will be flooded with these types of listings by the end of August, with things getting really ugly as the end of year approaches.
This home is now an "approved short sale", which means the owner owes more than it is worth, and the bank is willing to allow them to sell it "short" (below what the loan is), and eat the rest. This sold for $850K in 2022 brand new.
Have a friend looking to buy a property in NC with this similar issue, seller was willing to offer 100k to get it to close. I think he moved on or the bank didnt want to touch it, something like that.
Post: Why I Stopped Talking About My Goals with Friends and Family
- Lender
- Lake Geneva WI, USA
- Posts 118
- Votes 55
Quote from @William Miller:
Quote from @Jacob Thorpe:
Early on I heard these same things. Its important to remember that everyone in life has had some type of dream or goal and that throughout the years of life they have made 'reasonable' choices, sacrificing what they loved and wanted to do for the comforts and securities. Over time they have rationalized this maybe, and so when hearing about your goals they justify why they did not do or follow their pursuits.
I would also not talk about your goals or money and real estate and how youre going to be someone some day to people who are happy and comfortable where they are, it will only risk offending them and suggests where they are is not good enough for you. This can make a person defensive. Maybe they are your aunt or uncle or mom and you think that they should support you in getting rich because if they love you and its good for you than they should support you in every way. I think as you grow you will learn a lot more about the human condition and why this isnt the case because when youre talking about money and success people have a habit of becoming very selfish.
Think of it this way - you wouldnt go down to the bar or to an apartment building and talk to people in a low class or middle class or go to the farm and start talking to people about how you are going to be a great success one day and all these awesome things youre going to do. It would sound like you are planning on becoming better than they are, that their current position is inadequate.
More importantly just talking isnt worth much, if you had let your actions speak for themselves and show people your cars, house, invite them on cruises and pay for everything, invite them over for dinner and host, have a private chef prepare a great meal (theyre pretty cheap) it would no longer be a question, nobody will be able to doubt, people might actually be interested and you'd have entertained them, provided them food and something to do while also showing off and proving them wrong which. Very satisfying feeling!
Wow I really needed to hear this. Thank you for laying it out so clearly and honestly. That hit deep.
You’re right, a lot of people aren’t trying to tear you down intentionally, they’ve just made different choices and found comfort where they are. I’ve definitely been guilty of thinking, “Why wouldn’t they support me if it’s good for me?” but I see now that money and success bring up a lot of emotions in people, especially when it challenges their own past decisions.
I’m starting to learn that real power is in moving quietly, letting results do the talking, and keeping my circle focused. This was some of the most grounded advice I’ve gotten so far, and I really appreciate you sharing it.
Would love to learn more about how you handled these dynamics early on in your journey.
Post: Dollywood down 5300 customers per day
- Lender
- Lake Geneva WI, USA
- Posts 118
- Votes 55
STR's going strong in LG, 14k cars a day on the road for tourism nearly year round. Some pros and cons to the midwest. Although if you leave LG it will be a few hours until you hit another major city, unless you like small town gems, beer and cheese!
Post: Why I Stopped Talking About My Goals with Friends and Family
- Lender
- Lake Geneva WI, USA
- Posts 118
- Votes 55
Early on I heard these same things. Its important to remember that everyone in life has had some type of dream or goal and that throughout the years of life they have made 'reasonable' choices, sacrificing what they loved and wanted to do for the comforts and securities. Over time they have rationalized this maybe, and so when hearing about your goals they justify why they did not do or follow their pursuits.
I would also not talk about your goals or money and real estate and how youre going to be someone some day to people who are happy and comfortable where they are, it will only risk offending them and suggests where they are is not good enough for you. This can make a person defensive. Maybe they are your aunt or uncle or mom and you think that they should support you in getting rich because if they love you and its good for you than they should support you in every way. I think as you grow you will learn a lot more about the human condition and why this isnt the case because when youre talking about money and success people have a habit of becoming very selfish.
Think of it this way - you wouldnt go down to the bar or to an apartment building and talk to people in a low class or middle class or go to the farm and start talking to people about how you are going to be a great success one day and all these awesome things youre going to do. It would sound like you are planning on becoming better than they are, that their current position is inadequate.
More importantly just talking isnt worth much, if you had let your actions speak for themselves and show people your cars, house, invite them on cruises and pay for everything, invite them over for dinner and host, have a private chef prepare a great meal (theyre pretty cheap) it would no longer be a question, nobody will be able to doubt, people might actually be interested and you'd have entertained them, provided them food and something to do while also showing off and proving them wrong which. Very satisfying feeling!
Post: Why I Stopped Talking About My Goals with Friends and Family
- Lender
- Lake Geneva WI, USA
- Posts 118
- Votes 55
Quote from @Deon White:
Jay Z once said "Everybody can tell you how to do it, but they never did it"
Protecting your vision is a crucial part of building it.
"I hate when I'm on a flight and I wake up with a water bottle next to me like oh great now I gotta be responsible for this water bottle"
- Ye
Post: MLO's using Canva
- Lender
- Lake Geneva WI, USA
- Posts 118
- Votes 55
Quote from @Elias Halvorson:
Cold calls are great, my team does them. You have potential borrowers - how many are under contract? Regardless, that is great for your first 3 weeks. However, Im pretty sure (at least on the real estate agent side) people are not going to consistently give you clients unless there is reciprocity and you are providing them with leads/clients as well. Best of luck to you.
So I have had my MLO license for about three weeks and if everything closes I will make about 50k in commission with the closes I have lined up I think thats pretty good..? All from cold calling... I understand my methods are unconventional and maybe a bit slower than most are use to today but I feel they work? I still have more to learn.. if I can close five loans a month id be a happy man! Then I can start BUILDING BABY! YEAH!!
Yeah.. beginners luck maybe.. big time guy in my area just retired. Aside from working in the office.. I am not sure how to reliably source leads.. I mean I could just pay for a va service but.. we will see. thank u fren
Post: MLO's using Canva
- Lender
- Lake Geneva WI, USA
- Posts 118
- Votes 55
So I have had my MLO license for about three weeks and if everything closes I will make about 50k in commission with the closes I have lined up I think thats pretty good..? All from cold calling... I understand my methods are unconventional and maybe a bit slower than most are use to today but I feel they work? I still have more to learn.. if I can close five loans a month id be a happy man! Then I can start BUILDING BABY! YEAH!!
Post: MLO's using Canva
- Lender
- Lake Geneva WI, USA
- Posts 118
- Votes 55
Quote from @Elias Halvorson:
A webpage is something your company should give you, but you also should have a personally branded one as well in case you switch companies…. You want all your reviews reviewing you, the loan officer, not a review for whatever mortgage company you work for. Anyways, a web page is just the beginning - how are people going to find you? Are you paying 100-200 per click from google? Your current strategy is calling agents and stressing the importance of a knowledgeable LO? I’m going to guess you haven’t got anywhere with this. Like I said, rent a desk at a busy office, SHOW agents you’re knowledgeable by answering questions, gaming scenarios with them, etc. calling them randomnly when they don’t know you is a guaranteed path to being broke. Just my two cents. Quote from @Jacob Thorpe:
Quote from @Elias Halvorson:
There are worse ideas. Not trying to poo poo on your idea, but I would just say most agent relationships are based on reciprocity. If you are not sending them leads then most wont likely be sending leads your way. If Keller WIlliams or another bigger real estate group has an office in your area and you are fairly new to lending I would recommend renting desk space in an active office where you are present and can answer real estate agent questions on the spot. They could bounce scenarios off you, etc. That is probably your best option if you can't feed your agents leads.
Quote from @Jacob Thorpe:
Hey, started using canva. Created a three page PDF, grabs the attention, colorful, some pictures, has quick info on rates. I then use this pdf and save each image as a PNG, and post that PNG directly into the email file so it pops up on opening (no saving attachments and viewing)
Have you had any success with this approach? What methods are you using? I am trying to grab attention for the agents in my area so that I can partner with them and get their referrals.
Hoping we can still use bigger pockets for its original intended purposes and not just another place to generate leads so I had came here with this question hoping for genuine feedback!
Good idea, I see that there are some lenders who will have a webpage or links where they can say something like "put in your info to see if you can qualify" and this will gen. incoming leads an agent might be interested in. mostly what I am doing now is calling agents to see if they have clients in need of funding and stressing importance of working with a knowledgeable and timely MLO and attempting to fill this spot
Well I actually have found four or five ITIN clients and a conventional whos closing on 1.3m lake house, my area is a little bit different nationally. People want to meet you, shake your hand, known WHO you are not just what you do - and if they like you and things go well you'll get business until the day you retire. So I am trying to find the balance where I can focus most of my time on close knit relationships and casting a wide net. Thank you for the suggestions though, funnily enough I called a KW agent now long after reading your post. Theyre opening a new office here and are open to renting a desk. It takes a little bit longer but sometimes calling people and getting to know them and building actual human connection pays off in the end