All Forum Posts by: Justin Wilcox

@Ron S. Thank you for getting back to me. I was just looking for how people are going about getting those leads with lenders/banks. Do you need to know a guy or is there some sort of lottery you sign up with? As was mentioned earlier it looks like lawyers use them too. 

@WayneBrooks I appreciate your feedback. I am interested in the best way to find lead sources for her, or any other niches you might be aware of with your exposure to the real estate industry that could help generate some side incremental income while the deal pipeline builds. Thank you! 

@Wayne Brooks

 My friend is looking for extra income while she builds her own pipeline. She has been an agent for four years now and been working for a broker and wants to leave but still wants income. While not a huge source, $50 x 3 a day makes a livable check for her instead of pulling money from savings. 

Where would you usually source your leads? I appreciate your input very much.

Thank you!

@Will Fraser thank you for your input and help! It sounds like law firms are one good place to inquire about this sort of thing.

@Ron S.undefined appraisers need to do BPOs but don't banks/lenders as well? Looking for more insight on how that process works with them.

@Will Fraser is this for commercial or residential as well? Thank you!

How does one go about getting assignments as an agent from banks/lenders to do broker price opinions? What do they usually pay to do such a service?

Just looking to help a good friend. I know they are out there because I have had it done to one of my properties.

Thank you!

I have a good friend who has been an agent for about 4 years now. She has flipped homes, she has helped put together a lot of deals and currently works for a broker who has her wearing... too many hats. She wants to break off and do her own thing but building a pipeline can take time and she wants to still make money outside of the normal deal pipeline. How does one go about getting assignments from banks/lenders to do broker price opinions? What do they usually pay to do such a service? Just looking to help a good friend. Thank you!

In for an update for Maricopa county. I have read and heard differing responses for this as well!

They can write a loan solely off of that? That is the other issue, I can doing the refinance to get the cash out of the property to buy another - BRRR method.

My Dad has a lot by way of reserves although retired now, is there someway I could position him where if I did not make a payment he would become liable without actually putting him on the loan? Perhaps a sort of guarantor? 

Long story short, I paid someone to do my taxes and my return was stellar. The new problem is that I cannot get qualified to refinance a property, let alone buy another because my DTI is too high due to my tax return.

What is the most effective way to keep my DTI good while not paying a ton of money into taxes?

For example, would the best strategy be apply as many deductions as possible while still showing that I am earning enough to cover monthly mortgage payment on each property? 

I was hoping to get in touch with an underwriter today and learn more about their process so I can really expedite what I do in terms of acquiring more property. If anyone knows someone who would be willing to chat who is investor minded, I would sincerely appreciate it.  

Thank you! 

Hello,

I am in a position where my Dad would potentially be willing to let me use some of his reserves as "backup" as you might say as I invest in properties since I am not cash heavy. 

I can pay for the deal to make it work, however my DTI might be a little high warding off the underwriter.

Is there a way on loans to put some sort of contingency on the loan like, if I default that he will be liable without having the loan show up on his credit? 

Thanks!