All Forum Posts by: Becca Summers

Who is the end buyer for this home? First time home buyers who can't see the space used correctly? Staging that shows a bed can fit with the second bedroom and office or nursery? The kitchen is the ledge ment to be a bar? Maybe add stools to give an idea. A small couch and TV. 

Stephen, welcome to BP. I'm a local Realtor happy to answer any questions you might have. I really enjoy bigger pockets I'be met some great people and really enjoy thos great group of investors.

Are you sure your getting beat by other investors? I assime your using a FHA loan and with an FHA loan you can't buy a home that most investors would be I interested in.

I have a few ways to beat out investors depending on the home you are going after. The easiest one is buying HUD homes during the owner occupant time. No investors there. There is a sweet spot with house hacking homes where you can afford to pay a little more than. Investors looking to flip and retail buyers aren't willing to pay for homes needing work. That is the market you should hit. Every offer I've written this year has been a competing offer under the $400,000 dollar price range.

Even some of the deals I'm getting from wholesalers are garbage. It's crazy. What are your goals? Buy and hold or flip? With rates where they are I'd be willing to pay a bit more for a property than sitting on the sidelines and waiting you could be waiting a long time. Finding off market deals definitely add less pressure it just depends how realistic the seller is or how good you are at negotiating. 

I have nice finishes and rent at the top then offer a discount after signing. Then I get people who can afford the rent and get a small discount for paying before the 1st and take care of small repairs.

Justin, being an agent won't teach you much about investing. It could give you access to the MLS to find deals.

I think showing other investors or Realtors would be a better use of a year 

Branton a great place to start is working on getting your credit scorr above 740. This will get you the best interest rates when the time comes. Also saving up for earnest money, inspections and appraisals when you buy. You can do a 100% down loan once you get a full time job but putting yourself in a good position to start will put you miles ahead of many first time buyers.

Welcome to Utah and bigger pockets!! House hacking in how we bought our first two rentals. We didn't do multi-family because we had didn't want to move our kids where most of the mulit family are in our price point. Multi-family in Utah is a different beast and duplexes are super expensive because everyone wants to do it. What areas are you looking into?

Great question, I have a small local bank who does awesome loans for first time buyers and low down investments. 

If someone does't fit that then a normal mortgage broker can get good deals. I've found the mortgagr brokers are great to get tons of free info out of because they are trying to earn your business. 

The thing I hate about mortgage brokers is they sell your loan to another bank so the rules ate pretty set in stone and they can't really makr exceptions.

In my maket homes often sell for 97% of asking price and the seller pays 3% in closing costs. Are you in a first time buyers price point? How long has the home been on the market?

I don't think $4k off and cloaing costs is that bad but I don't know how competitive your market is.