All Forum Posts by: Brandon Johnson

I'm no expert on real estate or guru on gurus, but the word does imply a certain level of expertise. Love gurus or marketing gurus and considered by some to by experts in the subjects of love and marketing.

When it comes to real estate guru, it seems to carry a negative connotation. It's usually used to describe that guy who flies into town once or twice a year and offers his weekend boot camp for $9,997 and offer his extended online extreme course & private coaching for $19,997 at the end of it. He'll claim to have all of the answers and to quit your job tomorrow and be financially free, all you have to do is buy his course.

From what I understand, short selling in real estate means selling a property for less than the amount that is owed on the property. For example: You buy a home for $100,000, put 10% down and take out a $90,000 dollar loan with your bank. Well 6 months after you buy the market takes a steep turn and takes your home value right down with it. Your home is now worth $70,000 dollars while you still owe far more than that to your bank. Sometimes a lender may allow and allow you to sell the property for only $70,000 dollars even though you owe them almost $90,000. 

As far as the ins and outs of short selling it will boil down to the wants and needs of the current lender on the property. To do anything you have to jump through the hoops that they put in front of you.

I hope this answer help.

Have you taken into consideration your other ancillary expenses/losses?

Vacancy, management, repairs and capital expenditures.

@Corina Eufinger

Yep. You can set up your message just like any regular voicemail. If you're forwarding calls, however, the caller will hear the #2 phone's voicemail message.

@Corina Eufinger

I second this. Avoid placing your personal address on your mailers, but it would be best to use a UPS box Vs. a P.O. box because it looks more authentic. Also, I've read that leaving no name and only a return address with get your piece opened more often.

Google voice is fantastic. You can get numbers that have local area code, forward all calls to a personal phone during business hours or have it go direct to your preset google voicemail. It can even transcribe calls for you and send them via email. 

Hi everyone,

I've been a casual reader on bigger pockets for a short while now and would like to introduce myself. 

I'm a new investor living in Joliet, IL and I'm currently undergoing my very first direct mail marketing campaign in east Aurora, IL (60505). I'd like to get a few wholesale deals under my belt, raise some capital and make some lasting connections in the process. My end goal is to own enough rental properties to live off of comfortably. 

I must say I really appreciate the knowledge that other Bigger Pockets members have afforded me. In gaining real world experience of my own I'd like to start giving back.

See you on the site! -Brandon

They told me they could allow up to a 2 unit before even looking at numbers. The only thing the second lender knew was my credit score which is over 750 and when going over loan options they simply said I couldn't do 3-4 with FHA.

Would my age and lack on home buying experience tell them not to offer me something of the sort?

Can anyone name a lender that will allow a 3.5% down FHA on a 3-4 units property?

The last two lenders I've sat down with have given the okay for a 2 unit property, but both state that that I cannot do an FHA for a 3-4 unit. I'm beginning to wonder if this is something that simply varies per lender or if I've missed the golden era of house hacking.