All Forum Posts by: Renee Moomey

@David Mateo Camelo Corredor Your friend isn't ready to sell. A lawyer is needed to make sure it is possible with the current plan first. This has red flags all over it and seems very high risk on your part.

@Daniela R. This is a tough decision for first time home buyers. To answer your question, we would need more information on the market in this neighborhood. If this is the average condition for a home in that price range, it will call for further discussion. Look at what else is available on the market now that you would consider. Do those also need comparable work? Many times when buyers ask this question, they then consider if this is the right price range for them.

@Alexis A Peinado The appraisal is not market value. The lender is agreeing to the loan amount. Get a good, experienced realtor on your team.

Good ideas. Yes, we ran the comps. To be inline with current comps we would be looking at a $8k-$10K budget. This would allow us to redo all the flooring, frame in the kitchen laundry, add central air. The house would comp at $60,000 in today's market. We are active agents who list in this neighborhood. Update: unfortunately, we do not yet qualify for any loans due to tax returns. 

We are going back to the drawing board to better set ourselves up in the future. 

We have been running numbers on houses for a year and a half, we have narrowed down our neighborhoods and our plan was to purchase our first rental in 1st quarter of 2022. Due to being independent contractors and we need the successful year we have had to reflect on our taxes, this set our timeframe. We have the down payment, the out of pocket expenses for repairs, and the means to get this home ready. However, there is a house available now that we really want to get into. $35,000 list price. Estimate $3000 to get it ready. Will rent for $500. We are speaking with banks today about the financing. If this were you, how might your proceed or would you wait? 

Have you gotten your book yet? Everyone in our office it to read that book and attend installation. That is our culture and overall mindset, our standard. It is a 180 from the cold-call ways. My recommendation, be open-minded to that change of concept. I was unexpectedly in a wheel chair the first of last year. I became visually impaired and unable to care for myself due to a stroke and I had to learn how to use all my muscles again. My husband left his job to care for me. He became immersed in this culture and as I got better, he got his real estate license and we haven't looked back. This year, we are about to close in November what we closed in all of last year. We are leading the office in transactions and scheduled to close 51 sides. We credit the ninja way and being a part of an office that embraces that mindset. I hope you find successes. 

Get in front of 50 people a week, live or on the phone, that you alreadt know. Ask them about their life, do not ask them for a referral or anything salesy. LISTEN. Take notes.  Then give them value,  the help they need. Do not ever bring up real estate. Ever. They will ask what you do, wait for it.  They will ask about the market, ask them what part of the market interests them. Socratic discussion. Very few "I" statements. Try 50 different people every week. A database of 200 people you see or speak to once a month has enough transactions within it to completely sustain your business. Ninja teaches you to listen, never chase, never be salesy, never ask for business. People will come to you. This is maybe 1 chapter of that book. Lots of online training and is well worth the minimal cost. 

@Zac Lindquist this is a great question! Cold calling is the fastest way to hate what you do. Invest in Ninja Selling book and follow the Ninja path. Life changer. I closed 24 deals year 1 and despite health setbacks, I am on track to close more than 50 this year. Get in front of people you know. Transactions are everywhere. I refer out business I can't get to and am building a passive income.

@Daniel Stevens if you can't get the conventional loan yet, buy something with the cash and refinance or rent/stay where you are and continue to research the local market. It sounds like you have some business narrowing to do yet to determine the best investment route that fits you, your skills, your resources, and overall goals.

@Kenneth Gore with these loans, do the homes need to be owner occupied?