All Forum Posts by: Justin Engel

Hello BP members, I'm reaching out to see how you all are handling the news that Fannie Mae announced March 10th that they are limiting new loans secured by second homes or investment properties to 7% of the overall loans they purchase (roughly HALF their historic levels), effective April 1.

In my current investment area, I'm seeing an immediate increase of 2.25% on all investment loans. I'm curious what you all are seeing, how you're navigating/handling it, and if any of you have found a way (outside of cash offers) to get around it?

@Canesha Edwards this is great information to start with, thank you for the advice. Along those same lines, in your opinion, is it best to be straight forward with the person of your intentions and what you're after, or should you hold some details back?

@Drew Sygit thanks for the article, I'm absolutely going to give it a read in the morning. 

@Andy Pham thank you for the advice. I'll definitely add it to the list.

respectfully,

Justin

I'm a new investor, and very eager to get started. Since I've been listening to the podcast I've heard many times the host, and guest say about investing out of state, and the importance of getting the right property manager. Following up with they know right away if the person is the right choice. I'd like find an agent and manager in 1 if I can, that seems to be a smart business move. However, The question I have is how do you know "the right one"? What cues, what phrases, information the agent/manager provides that give you the assurance it's a good fit, and their interest are intertwined with your own? 

On the other side, what types of questions should I be asking?

Any advice would be greatly appreciated, thanks.