All Forum Posts by: Alex Gunnerson

Hi Ellie, you are not required to rent out either of the units under the FHA program. The property must be your primary residence and you are required to live in it for a minimum of 1 year. After 1 year you can rent out all of the units, but within that first year you must live in one of the units. I hope that helps, good luck!

Hi Sahaj, I’m my opinion seller financing can be a great way to finance a home depending on the deal. Avoiding origination fees, discount points, and other charges that lenders routinely charge is always nice. Seller financing can usually speed up the lending process because you aren’t having to wait on loan officers, underwriters, etc.  I have run into situations where sellers are ready to sell but they don’t want to give up the cashflow, or don’t want to pay a significant chunk of taxes in the year they sell, these concerns can be alleviated with seller financing 
 

Hello @Jason Norton , yes I have a lender I am happy with.

@Lee Ripma I appreciate the feedback, smiling and dialing here we come

Two weeks from closing on my first property (duplex in Kansas City) and the deal falls through because of a bad sewer scope. Now I am more eager than ever to find the next great deal. With that being said, I don’t want to wait around and try to find something on-market.

After a few weeks of driving for dollars, I have built up a decent list of properties, and now it’s time to pickup the phone and start making phone calls.

However, I am having a hard time coming up with my ‘sales pitch’ for my cold calls. I realize you don’t want to actually sound like a salesmen, but rather, find out how to solve problems for the person on the other end of the phone. With that being said, it seems like the most persuasive selling points for off market properties is “I’ll make an all cash offer!” or “I can close in 10 days!”. I understand how that is attractive, but I really would like to use conventional financing for my first deal, so an all cash offer, or closing in 10 days isn’t really in the picture...

Is there still an opportunity for me to find off-market deals if I want to use conventional financing? If I can’t close fast or offer all cash, am I wasting my time cold calling / sending mailers ? Any feedback is greatly appreciated!