All Forum Posts by: Patricia Joseph

Hi @David Taylor...welcome to the Biggerpockets community! I'm a STR-focused agent in the Atlanta area. Reach out with questions or if you need any assistance...happy to help!

Hi Yuran, thanks for connecting! I'm an Atlanta realtor and would be happy to assist. Let me know how I can help.

During 2021, I had the opportunity through my broker to help institutional fix & flip and buy & hold cash investors (ibuyers) find properties in the Atlanta market. Despite my limited experience working with investors, I studied their buyboxes, learned their formulas and was able to successfully get offers on 90% of the properties I submitted. As a result of this experience, I've changed my focus from working with first-time homebuyers to working with investors.

Thanks @Chris Mason for your thorough explanation! I'm not giving up and am determined to find my buyers a lender willing to approve a mortgage.

Thanks @Chris Mason! What is AUS? I was hopeful that the buyer with the stronger credit would've been approved for the W2 only mortgage, but the underwriter declined. Unfortunately, both buyers are head of household with no other income. From the info I've received, looks like buyers will have to wait until after they've filed their 2017 taxes, showing no losses, in order to get approved for a mortgage. That sucks!!

Sorry @Jake Thomas for my late reply! I definitely appreciate the info and you really make a good point about getting listings. I'm struggling with whether it's more important to discount my fee just to get listings, or continue to seek out sellers, who value my service, and will pay the 6%. At the same time, I'm asking myself: am I cutting off my nose to spite my face by not discounting?

Thanks @Christopher Phillips for the info! This is my first time working with buyers, who also have business income.

Unfortunately, @Upen Patel both buyers have W2 and business losses:(

I'm a real estate agent in Georgia. In the last few weeks, I've had 2 potential buyers, both with steady income, denied mortgage financing due to them reporting business losses on their tax returns. After deducting losses from income, lender approved 1 buyer for $90,000. which, with the low inventory, will not buy you a decent property in the suburbs of Atlanta. The other buyer had better credit and lender wouldn't approve a W2-only mortgage. Outcome: lender said both have to wait until next year after tax filing and show no business losses. Is it worth pursuing other lenders and finding alternatives for getting them financing now? Any advice would be helpful!

Wow @Collin Schwartz! This is impressive--Congrats! I'm with you; it's scary to think that my life will end up like my coworkers just watching the clock; uugghh!

@Jake Thomas sounds like you are reaching out to FSBOs. If so, what's the key to working with this group? I've recently started marketing to FSBOs offering them marketing tools to find buyers, but haven't had much luck in reaching them by phone. I've also sent direct mail pieces as well. Any suggestions? TIA