All Forum Posts by: Brett McManus

Hi @Kyle Moore, I highly recommend calling small local banks or credit unions in your area. They can offer a variety of loan terms rather than trying to stuff your situation in a box. 

I have been researching the topic quite a bit lately and there seems to be much more success starting with a text message to gauge interest and then moving on to a call.

Texts should be less out of pocket compared to a cold call and in today's age more and more individuals are less likely to pickup the phone for random callers. Just what I have gathered from analyzing the strategies of a few successful wholesalers. 

My current live in duplex had similar condition floors that refinished amazing. I would suggest having someone local come look in person as pictures can be tough to judge. In terms of LVP, I would check local rent comps to get any idea for what renters in your area could be looking for. 

Hi @Kuron McGraw, I see plenty of individuals on forums, podcasts, and locally who are leveraging seller financing. With interest rates being so low & it sounding like you have yet to leverage FHA, the 203k loan could be an awesome opportunity! I think it would be pretty rare to find a seller who would meet similar terms to FHA out of the gate. If anything it would be a way to achieve a similar low down payment once FHA has been used.

Just my two cents!

Hi @Joseph Colliu, I no longer live in the Rochester, NY Market however, am familiar with the area and overall ARV process.

ARV can change street by street let alone across an entire Zipcode. I would highly recommend hopping on an online platform to view past sold comps or better yet, find a local realtor who will pull a report for you. I like using Redfin but if not available in Rochester, Realtor.com is my next go to. Hone in on some properties nearest yours within the past 3-6 months to determine rough $ per sqft. as well as the level of rehab the local area can withstand.

Much more confidence inspiring to wrap your own head around appropriate ARV rather than banking on the opinion of someone else.

Hi @Michelle Paulsen, 

What type of lender are you working with? If it is a big bank (wells fargo, US Bank, Etc.) I would move on to a different option. A mortgage broker would be a great start, otherwise I would begin calling around to a handful of small, local lenders until you find someone who will work with your situation. At minimum receive a few different perspectives before giving up hope!

Hi @Arion Trammell, I would like to echo @Alyssa Strom's point. 

I spent the better half of my house hack search married to the idea that I would live for free which turned out to be a major uphill battle. Instead, went back to the drawing board looking for a place that would cut my out-of-pocket expenses in half, cash flow when I move out, and provide plenty of value-add potential for me to tinker on and build equity while living in the unit. This outcome still resulted in much more $ in my pocket than if I continued renting.

That seems to be how they are pitching it! In my mind if they all flow seamlessly then it could be pretty cool, will be interested to receive some reviews from individuals who are signed up. 

@David Robertson

To my knowledge they partner with Resimpli offering the same CRM/Direct Mail components Combined with a website that appears to be comparable to that offered by Carrot. It also includes the D4D feature which is another $40 with resimpli. 

Do you use Resimpli now? Do you enjoy the interface?

I have recently been putting a decent amount of time into researching Lead Acquisition & Management platforms trying to determine what is the most convenient & cost effective way to obtain systems that will interact seamlessly with each other. Sure enough - BP is now offering a platform that seems as though it might deliver exactly what I am looking for....

What are your thoughts so far? I'm still in the process of pricing out the individual services but $200 with the promo code seems reasonable if the system interacts as seamlessly as they claim. 

Anyone jump onboard yet? Thoughts so far?