All Forum Posts by: Richard Dale-Mesaros

I’m learning some states have laws against door knocking pre-foreclosures/distressed homeowners. I see a lot about “equity skimming” which is very specific and doesn’t mean every investor is looking to skim because they door knock.

Which states can you not door-knock? How do agents get around this? And, are there any exceptions around door knocking pre foreclosures on those states?

Hi John, I was just thinking to myself why anyone would want to door knock. I love direct sales but it seems to be door knocking for leads or sales is the proverbial "needle in the haystack" style of marketing. I personally like to use attraction or content marketing; better use of my time, less rejection (which takes a psychological toll on you) and higher quality leads. I get fresh leads everyday by posting quality, non commercial contemporary content on a daily basis.

If you're door knocking pre-foreclosures this is NOT needle in the haystack. As long as you scrub your list and confirm the homeowner still has an active foreclosure pending, you are knocking on the door of one of the most motivated sellers on the planet. I prefer that over direct mail, text message blasting or bandit signs. I'd rather talk to 5 motivated sellers per week than 100 unmotivated sellers.

I have a 30-day marketing plan for active foreclosures that includes a combination of personalized letters, text messaging and door knocking and I attempt to make contact with the homeowner up until 24 hours before their auction date. I call the last 7 days before the auction date "hell week" for a homeowner in foreclosure. They're out of time, stressed out and have few options. If you know what you're doing and can stop the foreclosure you'll close a lot of deals.

If the NOD paperwork doesn't have the attorney information, how do you know the property is still in foreclosure and when the auction is going to be held?

0 Votes

Hi Ethan, on FHA BRRR acquisitions you can buy up to 4 units and one of my mortgage brokers has grant money left over from last year. to go toward your 3.5%down and closing costs! I can share her info with you if you like......

1 Vote

Boston, Massachusetts

Give me a call re. flip funding.......

603 726 0221

Quote from @Michael Garcia:

Reach out to @Khemraj Sarju Jr. or myself to discuss 👍

* 100% Financing With NO Down Payment *

- FIX-TO-FLIP LOANS

- FIX-TO-RENT LOANS

- GROUND-UP LOANS

OUR INDEPENDENCE IS YOUR ADVANTAGE / We lend our own money and make our own decisions

✔ FAST / Close quickly; funding as fast as 10–15 business days

✔ RELIABLE / We don’t need third-party approval

✔ FLEXIBLE / We use common-sense underwriting processes, tailored to your unique situation.

Here are just three ways working with us benefits our borrowers:

1 - No down payment! / Other lenders require a 10%-20% down payment - We require ZERO.*

2 - YOU are the asset! / Other lenders underwrite loans based on the property’s asset value, as well as the borrower’s liquidity, credit, and experience. When we look at your liquidity and credit, we take a step further and also review your income and cash flow.

We can track your cash flow and success as they become more predictable — even if this is your first time with a fix-and-flip or fix-to-rent property! Naturally, any past experiences you’ve had with renovations are also considered.

3 - We keep it all in-house! / Other lenders rely on Wall Street underwriting guidelines and warehouse lines tied to these guidelines - All our decisions are made in-house.

We are focused on MUTUAL SUCCESS - With over 50 years of combined lending experience, we've made this product independent of outside influence. 99% of our short-term loans will remain in-house and on our balance sheet. This benefits you in having a reliable lending relationship, regardless of market changes.

States Serviced

Alabama / California / Colorado / Connecticut / Delaware / Florida / Georgia / Illinois / Indiana / Iowa / Kansas / Kentucky / Louisiana / Maine / Maryland / Massachusetts / Michigan / Minnesota / Montana / Mississippi / Missouri / New Hampshire / New Jersey / New Mexico / New York / North Carolina / Ohio / Oregon / Pennsylvania / Rhode Island / South Carolina / Tennessee / Texas / Utah / Virginia / Washington / West Virginia
/ Wisconsin

1 Vote

Quote from @Don Konipol:

There has always been many questions as to if one needs to be licensed to engage in COMMERCIAL mortgage brokering/origination or RESIDENTIAL INVESTMENT property mortgages. Here is a list of states divided into three categories, based on my internet research. If you have any corrections to make please let us know.

States which DO NOT require licensing for originating or negotiating a loan secured by commercial real estate nor a loan secured by non owner occupied residential real estate

ALASKA

ARKANSAS

COLORADO

CONNECTICUT

DELAWARE

FLORIDA

GEORGIA

HAWAII

IOWA

INDIANA

KANSAS

KENTUCKY

INDIANA

KANSAS
LOUISIANA

MASS

MARYLAND

MAINE

MISSOURI

MISSISSIPPI

MONTANA

NORTH CAROLINA

NEBRASKA

NEW HAMPSHIRE

NEW MEXICO

OHIO

OKLAHOMA

PENNSYLVANIA

RHODE ISLAND

SOUTH CAROLINA

TENNESSEE

TEXAS

WASHINGTON

WISCONSIN

WEST VIRGINIA

States which DO NOT require licensing for originating or negotiating a loan secured by commercial real estate but DO require licensing for a loan secured by non owner occupied residential real estate

IDAHO

MINNESOTA

OREGON

UTAH

VIRGINIA

States that DO require licensing for both residential and commercial real estate loan origination and brokering

ARIZONA

CALIFORNIA

ILLINOIS

MICHIGAN

NEW YORK

NORTH DAKOTA

NEW JERSEY

NEVADA

SOUTH DAKOTA

Thanks Don! Glad I'm working the New Hampshire market! 🙂

0 Votes

from @Myles Underwood:

Hi,

I am a new member in the beginning stages of creating my investment strategy. I operate a home services business specializing in property management, renovation, and general contracting. I obtained my real estate licenses in Maine and New Hampshire in 2023 under Keller Williams Coastal and Lakes & Mountains, Portsmouth, NH office. I currently do referral work through the holding company, Universal Principal Broker. I have completed a successful fix and flip and multiple remodels. I am looking to define my investment strategy in 2024 to become a full time real estate investor. I am happy to join Bigger Pockets and looking forward to learning from and working with the community!

Thanks,

Myles

Hi Myles! Let's chat at your convenience - I'm also one of the 700 agents out of the same KW office, have fone 75+ buy-sell deals myself and closed 55+ transactions as an agent, 80% on the listing side. Happy to be a resource for you!

0 Votes

Manchester, New Hampshire

Hi Lucas, I'm in Campton and it may be worth a quick chat, regardless of whether or not we end up working together in any fashion, happy to be a resource. I'm familiar with the STR scene up here, have done 75+ buy/sell deals myself, including 15 or so land deals. No STR of my own or land dev/new construction, so I may not be the best fit for your needs but certainly I can be a source of deals on land in this area..... 603 726 0221.

2 Votes

Manchester, New Hampshire

@Nandish Desai

Feel free to reach out, I'm happy to be a resource!

I agree with @Richard Dale-Mesaros. It is a lot of work and you should really be talking to the municipality where you are looking to build.

I certainly wouldn't do a tiny home if I had to do all the site prep and bringing in utilities. I would build a regular home.

0 Votes

@Michael Hoover

0 Votes

Quote from @Michael Baum:

I agree with @Richard Dale-Mesaros. It is a lot of work and you should really be talking to the municipality where you are looking to build.

I certainly wouldn't do a tiny home if I had to do all the site prep and bringing in utilities. I would build a regular home.

0 Votes

Quote from @Nandish Desai:

Hello

Newbie in STRs. Have a multi and few condos as long term rentals and wanted to diversify in STRs. Can anyone guide me through the process of buying land, getting permits and setting up a tiny home/s for STR in New Hampshire, 1-1-5 hours from Boston. Looking to buy tiny homes from company that do turnkey delivery. Also open to someone telling me this is not a great idea.

Buying land has an EXTENSIVE list of considerations and due diligence items to determine if it's a fit for your needs/business model. How do zoning, subdivision rules/covenants and restrictions, rights-of-way, deed restrictions factor in? Is there power/internet/cable/cell service? Is the road dirt or blacktop, town maintained? Is it a Class VI road? If so, you will likely have to waive your right to fire/police/ambulance. Which way does it face (N, S, E, W)? Will the lot support a septic system? How steep is it? Does it afford views? How's the neighborhood (any raging lunatics nearby?!)? How are the soils, (clay, sandy, ledge etc)? Can it be further subdivided? The list goes on...........

1 Vote

All Forum Posts by: Richard Dale-Mesaros

Richard Dale-Mesaros has started 2 posts and replied 253 times.

Post: Which states have laws against door knocking Pre-foreclosues?

Post: 24 y/o with $120,000.00 --> Need advice

Post: 100% Financing on Fix-and-Flips / Ground Up Nationwide

Post: COMMERCIAL Mortgage Broker Licensing Requirements by State

Post: New Member Excited to Begin My Investing Journey

Post: Looking For Investor Friendly Real Estate Agent Around Lincoln, NH!

Post: Tiny home STR

Post: 17 Homes and growing but FEEL Stuck HANDs-ON - How did YOU ESCAPE wearing every hat?

Post: Tiny home STR

Post: Tiny home STR