All Forum Posts by: Mark Sewell

That PPC ad is a postcard in the mail.  Their mailbox is packed with them, and your ad won't stand out (with few exceptions).

These FB ads are a method to warm up your audience.  Let them see that you are a real buyer.  Show them what you do, show them that flip/renovation/rental project you are working on.  Talk about the circumstances that the seller and/or the house was in when you bought it.  Talk about why this avenue might be right for them, or not right for them, depending on the condition of the house and/or the circumstances of the owner.  Use video for this as much as you can - for several reasons.  

All of this allows your potential seller to get their head around the proposed solution - moving from problem aware to solution aware (borrowing from the guys over at Carrot here) - and then they start getting comfortable with WHY YOU versus all those other guys packing their inbox/mail box with PPC ads and postcards.

Please share your business contacts (if allowed).  

Might need to get the pro plan for BP but I would say it is worth it, to get your name and number out there....

Yes.  I do this - in addition to our HM lending core business.

@Bradley Britt, just get a non-QM loan.  Skip the whole income-documentation discussion completely, do a low-doc loan.  You can always refi later in a few years, when/if your balance sheet and P&L allows. 

Now OK you won't get a cool 4% rate, but you aren't going to get abused either. I can help you myself, if you like, but it doesn't have to be me. If your credit is reasonably good (720+), you would have no trouble in stepping into a 30-year fixed. You would get 6.25% and 75% LTV right now on purchases and rate/term refi. Minimum credit score is 680, but LTV is lower and rate is 6.5%. Minimum loan amount for this right now is $55k.

If you can massage your income numbers and qualify for a 5.25% or a 4.25% (pretty amazing) on a landlord loan, then do that - but if you find you are passing over deals, then give this some consideration.  The difference in rate is something you can easily quantify.

Always try to live as close as you can to where you work.  Commutes are soul-sucking affairs.  You can earn more money, but you cannot get back that extra hour (or two) each day.

@Steve Vaughan that was exactly what I was asking.  And it makes sense, thank you.

@Steve Vaughan @Daniel Dietz this is super helpful.

Does this strategy allow you to pay a bit more on a house than you would using cash or HM or other more traditional forms of financing?  I think it probably depends - it doesn't IF it is a flip (how could it?) but perhaps it could as a buy & hold?  But by how much?  Any useful insights?

I hit on such a deal earlier in the year, right before the onset of this damn virus.  Couldn't get past the upfront tax hit for the seller, and in the end, we decided the house was just a tad too big to be a rental and probably needed to be a flip.  

We almost all veterans over here at Jet - feel free to give us a call and we can answer some questions you might have.  We have a lot of video content online as well.  Find a loan officer you like and give one of us a call.

As far as local REI groups, I second Gabe Rodarte, he puts out a lot of good stuff. Also look into Houston Buyers Club and AC Ramos Prosperity Group.

I would not recommend UPWORK for this, or even making a custom site at all.  

Just get a website package from INVESTOR CARROT and be done with it.  Localize, personalize, follow their 3 lead per day training and spend your time/energy creating useful & relevant content.  

@Joshua Joseph yes sir, you could do the 30-year fixed non-QM loan in your LLC. Of course you will have a PG in any case, but this can get done.