All Forum Posts by: Mike Neyman

Bryan mentioned offering finders fees which is a great idea and something that I have considered, but my understanding is that you cannot pay a fee/commission to a non-licensed person. At least that's how I think it works in Ohio.

Any comments on this? Is there a way to structure this to be legal?

I have not had very good results from placing classified ads in newspapers and wanted to see if others have found it to be cost effective?

I'm mostly interested in results from "for sale" classifieds.

Is it worth the money? Any advice on what wording to use if I'm targeting the first time home buyer market?

I have 4 completed rehabs and wanted to try a few things before placing them on the MLS.

I would probably qualify for a refi, but I already have more than 4 mortgages so the only banks I can deal with are the ones that offer portfolio loans for non-owner-occupied properties. As you probably know, my options are limited and the only programs I've been able to find are 5 year ARMs.

Is anyone out there getting fixed rates on investment properties when already having more than 4 mortgages?

I've been thinking about my long-term position on some of my rentals and foresee a problem coming in a few years.

Two of the mortgages on my rentals are ARMs and will be resetting in a few years. The current rate on both is +/- 5%, but with the anticipated inflation, I can see these resetting at a much higher rate without an equivalent increase in rent income.

Has anyone else considered this problem and what can you do to protect yourself?

The one or two local banks that still work with investors only offer ARMs so I don't know that I have many options for my future investments.

J Scott,

I've found that even with a good price and a good house, it is still difficult to stand out on the MLS because there is so much competition.

Has anyone had any success with other methods such as fliers, newspapers, postcards, FSBO sites, craigslist, etc.? I've done some of these things and had a pretty good response, but most of the interested buyers couldn't qualify for a mortgage so I'm looking for more ideas.

What are some effective strategies, marketing techniques, etc. to find end buyers for rehabbed properties in this market?

I'm finishing up my 4th rehab and have some potential buyers for a couple of them, but want to know what other investors are doing to find qualified buyers.