All Forum Posts by: Scott Anderson

In AZ you can submit several verbal offers. Nothing written means unenforceable. So even if 37 say yes you aren’t under contract until you write it and sign it.

You can use the sellers agent as your own. Just in the offer email ask them to lower the buyers side commission between them and the seller to represent you. As an agent I’d agree to that.  Especially for an investor. Win-win. And if they aren’t comfortable they can get an office mate to step in instead. 

I got hit up by a lender on here 2 days ago.  She came out of nowhere and offered me money with an upfront fee and asked me how much money I wanted.  I wasn't even looking for any.  She had one post on the site and it was contextually inept.  Reported her account so they could sort "her" out.

I used a heloc for buying my property. I am going to try to pay it down in 1.5 years. Cashflows $330, heloc is interest only $250. Every principal payment lowers heloc interest payment so it snowballs to a quick payoff.

When it’s paid off I’m back to where I was except now I have two houses. I can also make the Heloc payment easily and can pay the second mortgage outright if I have to.

After this one I may move into a new primary with 0-5% down, trade the 1 heloc into 2 investment property LOCs and then get a fourth property shortly after. But I have time to figure that part out. 

 No, that's when you use the offer first method.

Next time make an offer immediately. Then use due diligence period to check it out.

You two can also just go door knocking. “Sorry we don’t have an appointment we were driving by, would we be able to see your home now or can we swing back in 15 minutes?”

If your agent won’t do this, they aren’t motivated. I hate doing it but it works. 

 With all this stuff being free, how does Tellus make its income? Free stuff like this is scary. Lead generation for who? Who buys or uses the leads?

Did the appraiser not use the income method? Comps are only part of the appraisal. 

 I think I got a great deal at .75% rule.

I didn’t use any rule at all only a self made spreadsheet calculator. Only calculated a rule after the fact out of curiosity. 

That said, you can’t calculate rental income today if you’re not renting until later. It skews your numbers. If I calculated my current house it would have been .5%. Three years later it’s 1%.

Stay away from rules, use numbers. Buy numbers that make you happy. 

 Yeah, this is important too.  I do both...

Great prices.