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All Forum Posts by: Joanne Eriaku

Joanne Eriaku has started 7 posts and replied 164 times.

Post: Is it bad etiquette to knock on doors?

Joanne EriakuPosted
  • Realtor
  • New York
  • Posts 167
  • Votes 169

Under normal Circumstances, door knocking is generally fine, under covid 19..not so sure...better to cold call 

Post: No more than 80%... Really??

Joanne EriakuPosted
  • Realtor
  • New York
  • Posts 167
  • Votes 169

@Danual Berkley the more move in ready it is, the less meatier the deal. 

hmm, my newbie experience is that not all HML's are comfortable with newbies but there are those who are ok lending to newbies. PM me for a recommendation of one whom I found. having said that, my advise would be: Before you go to them with a deal, first approach them to understand what kind of projects they typically lend to etc, etc, that way, you have a relationship established plus they give you an idea of how much you qualify for. Here are my business relationship type inquiries to an HML...before I go to them with a deal:

On what types of projects do you typically lend?
How do you evaluate deals? What specific deal information do you need?
What do you need from me personally?
What are the typical terms? Points? What is the Annual Percentage Rate for interest?
Do I close with your attorney/title company or with mine?
What percentage of the purchase price will you loan and will you loan 100% of the rehab costs?
What percentage of ARV will you loan?
If I need to extend the note, can it be at the same terms?
Will you allow someone to be in 2nd position?
Will you give me a POF or pre-qualification letter to submit with my offers?
Do you have any upfront fees or any other fees?
How do you handle draw requests? Is there a few for every draw?

LOL PM me, I might not be a ninja yet but I might have some wisdom to share

Post: Software That Finds Property Info Given The Address Only?

Joanne EriakuPosted
  • Realtor
  • New York
  • Posts 167
  • Votes 169

@Anthony Sarrouf, yes, absolutely, it does, PM me if you need clarity

Post: Thoughts on Changing Strategy from Duplex to SFR

Joanne EriakuPosted
  • Realtor
  • New York
  • Posts 167
  • Votes 169

@Robert McCormick, @Jonathan Greene, may have some wisdom to share

Post: Software That Finds Property Info Given The Address Only?

Joanne EriakuPosted
  • Realtor
  • New York
  • Posts 167
  • Votes 169

@Anthony Sarrouf, Realeflow could solve for that, copying text from them on importing, hope it helps

Importing Properties

Below is the step by step process on how to import a list of properties.
** To Import you must use an Excel spreadsheet saved as a .CSV file

** If you are uploading a property and want to associate the Owner with the property, Realeflow will create a property file and a owner contact file and link the 2 files together automatically.

** Do NOT include any commas or symbols on your spreadsheet such as $, %, etc as this will not import the field.

** When uploading, certain fields need to be specific such as:

a. State- this needs to be the 2 letter abbreviation for this field to import

b. Property Type, Garage Type, Pool Details, Basement Type, and Waterfront Type: these need to be exact for this field to import. Below are the entries that are accepted in order as listed above.

Post: Trouble finding comps

Joanne EriakuPosted
  • Realtor
  • New York
  • Posts 167
  • Votes 169

@Andres Cardenas, its ok to give some leeway downwards to 3bed or upwards to 5bed and adjust accordingly on the pricing...not more or less than that. Also, the 0.5 mile rule is applicable to fairly populated areas, but if its an area with houses sparsely apart, by all means, go upto 2miles if you have to. 

@Jasmine Hu, its not just tech allowing employees to work from home, many organizations are questioning the rationale of going back to high brick and mortar costs considering work is getting down just as well regardless of location. I work for one of those non-tech orgs which also has a DC presence...the new normal has already been implemented.

Post: How legally sell real estate leads

Joanne EriakuPosted
  • Realtor
  • New York
  • Posts 167
  • Votes 169

well....I believe that would make you a wholesaler. I'm not an attorney so I'd advise you speak with an investor friendly one but my two cents is that it would be wise for you to put the properties under contract first before assigning the contract...otherwise you would be birddogging