All Forum Posts by: DeWitt Gibson

@Cliff H.

That's a great idea, actually. It's been non-stop either bots, realtors, or wholesalers just dialing a FSBO with questions that clearly prove that they didn't take any time to actually read the add before dialing. A throw away number is a great idea for my next listing for sure...

Just recently posted a “For Sale by Owner” listing on Zillow. My phone is getting blown up by texts from “bots” that are clearly being run by wholesalers looking for “deals”…. Which I get but man, it’s annoying as these bots clearly are on a fishing expedition with no idea of what the ad they are spamming on actually is for or even says.

Like -> “Hello, I saw your ad on Zillow”…. “Is it a house, condo, townhome, or multifamily?”…. “How many bedrooms?”….. and so on - information they would clearly know if it was a person who saw the ad.

Any one else experiencing this?

Hello Bigger Pockets: 

As a mortgage broker, I am occasionally asked what to do when a borrower reaches their maximum number of conventional investment property loans. One of the options is to wrap up all the currently owned units into a 'portfolio loan' thus freeing up their credit to buy more units using new conventional loans. 

I have access to a great lender who will lend on 5 or more rent-producing units anywhere in the USA. 

There are several options with how to structure this portfolio loan including fully amortized or interest only, and a range of terms from 5 to 30 years. No personal income verification or tax returns are required. Loan amounts up to $5,000,000. 

All I need please to send over a complimentary, no obligation loan estimate is a complete rent roll of all the properties. Just email me at [email protected] and I will reply with an Excel spreadsheet to complete the rent roll and return to the lender. 

Feel free to direct message me with any questions. 

I just opened my own Fundrise account with the minimum investment. I figure this gives me a chance to really try them out without risking too much. So far, I am really impressed with their technology and what looks like a well diversified portfolio. 

Illiquidity is an issue with any PE/Hedge Fund/Private REIT and isn't unique to Fundrise.

Fingers crossed, I have high hopes :) 

Hi Bigger Pockets: 

I have come across a unique opportunity for owners of stabilized commercial properties of all types including apartments, office buildings, industrial, shopping center, etc. anywhere in the USA:

A private lender who will place a second position mortgage on these properties for fast cash out or bridge financing without disturbing the first position mortgage. Their rates are very competitive and they can potentially close in as little as two weeks. They will also invest in preferred equity if the first mortgage prevents another loan. 

If you would like more information or would like me to have them send you term sheets, please direct message me, email me at [email protected] or give me a call at (480) 648 5747 

Aug 4, 2021

Hello Bigger Pockets! 

I am a fully licensed and self employed residential mortgage loan broker in Phoenix, AZ. The Phoenix purchase market is absolutely white hot right now. As such, my purchase loan business is way down because so few of my pre-approved borrowers are actually getting accepted offers and closing. 

My loss is your gain if you are looking to refinance any residential property in AZ or CO (where I am licensed) because I am ready to wheel and deal with the best refinance rates in history! Not only because are rates already historically low to begin with, but also because I am ready to negotiate reduced compensation and lender credits in order to win your refinance business to make up for the low purchase loan hit I have been taking. 

I can work with any 1-4 unit residential property:

• Single Family Homes 
• Condos
• Townhomes
• Investment Rentals 
• Second Homes
• Short Term Vacation Rentals
• Small Multifamily (4 units or less) 

If you are ready to refinance to the lowest rates in history or pull cash out, I am ready to assist you and get the best deal I possibly can! 

Please feel free to call me at 480 648 5747 or email me at [email protected] 

For fastest service, please go ahead and fill out an easy online application at https://dewittgibson.floify.co...

Apply Now (floify.com)

And I will send you my best offer as a complete Loan Estimate. 

No cost or obligation, I never charge any upfront fees. I only get paid at close. 

Best, 

DeWitt 

NMLS #1720041

@DeWitt Gibson

Yet another update:

https://www.cnbc.com/amp/2021/08/03/cdc-will-extend-the-federal-eviction-moratorium-through-oct-3.html

The Centers for Disease Control and Prevention (CDC) announced Tuesday it will extend the federal eviction moratorium through October 3, 2021 after the ban lapsed over the weekend.

The announcement comes after pressure from House Democrats including House Speaker Nancy Pelosi, D-Calif., Rep. Maxine Waters, D-Calif., and Rep. Cori Bush, D-Mo. The White House previously said Biden did not have the authority extend the ban, given a June Supreme Court ruling that said only Congress can enact a such a ban. Congressional Democrats did not appear to have enough votes to do so, and the House is currently in recess

Here in the greater Phoenix area we are still in a white hot seller's market. There a few signs things are peaking and may cool soon, but sellers still hold all the cards here in Phoenix. 

@Matt R.

I am not aware of what the adu delio is… sounds interesting… could you explain? Thx!

We had a marketing meeting in our office last week and we decided that we are likely to see slightly higher rates and less of a seller dominated market coming in the next six months or so. Are we right?

https://www.cnbc.com/amp/2021/07/29/pending-home-sales-drop-in-june-.html

Pending sales of existing homes in June as measured by signed contracts fell 1.9% from May, according to the National Association of Realtors.

Sales were also down 1.9% compared with June 2020. Pending sales are a forward-looking indicator of closed sales in one to two months.

"Pending sales have seesawed since January, indicating a turning point for the market," said Lawrence Yun, Realtors' chief economist. "Buyers are still interested and want to own a home, but record-high home prices are causing some to retreat."