All Forum Posts by: Varun Talluri

@Eric Striegel This is really great. Please post your experience once the deal is closed. I am also looking for the next steps to follow once we have generated the lead.

@Curt Davis Thank you. The deals generated from the campaign is impressive. Could you please share the details of what focus groups / demographics / area / property type you have targeted for this campaign and how you got the contact details. This is really interesting!  

@May Emery Thank you for the advice. Seniors are a great demographic to focus on for the off market properties.

@Curt Davis We will be trying the strategies you have mentioned. Could you please suggest where can I find the content that goes in to this approaches. I believe the content should be straight forward and appealing for generating any leads. Thank you

@Eric Striegel We are also looking for the off market deals. Driving for dollars is one of the strategies to find off market properties. Could you please share your experience on how you were able to find this lead?

I am also looking to understand how we close the deal once we have an interested seller. what are the things to be considered while making an offer, writing up a contract etc. Thank you

Hello Everyone, We are following various strategies to generate leads on off market properties (like mailers, post cards, cold calling etc). Once the lead is generated how should we proceed with the lead so that the chance to close the lead maximizes. Would like to know different approaches / strategies that are followed in winning the lead. Thank you

Hello @Ryan Rader were you able to find an investor / financing on the property you mentioned? Would like to know how you closed this deal.

@Ralph Verdugo The FHA loan is not much different from a conventional mortgage except that it is backed by FHA. But, one additional benefit you get from FHA loan (apart from 3.5% down, approval for low credit score) is the FHA loan relief option which will help you if you ever experience a legitimate financial hardship (such as a loss of income or increase in living expenses) or are having a hard time making your monthly mortgage payments. The FHA Home Affordable Modification Program (HAMP), can help you avoid foreclosure by permanently lowering your monthly mortgage payment to an affordable level.

If you have a steady income and think you will not need this option you can switch to conventional mortgage as the 0.7% interest difference will help you save money on interest payments. 

 

@Cristian Garcia another thing you will need to consider is that for FHA loan the property should be the primary residence of the borrower which means you should live there.

@Artem Shum what type of property is it? Single family or multi family? Do yo plan to live in one unit and rent other? if that's the case looks like a good deal because you will be able to rent the second unit after 1 year once you move out and you will have a very good cash flow. If its SFH it has a negative cash flow which is not desirable

@Marcus Palm I believe its hard to give a number but we can analyze how the property value might appreciate over time and see the historic rental data to determine what is the average increase in rent over time. Finally try to rent it out for at least 0.8% to 1% of the sale price while having a positive cash flow