All Forum Posts by: Pete Storseth

Not necessarily "traditional" lenders though. Call smaller banks and credit unions to see what they have. If alls well, get one to approve the refi, then take that quote on to another bank or CU and get them to beat it. Then go to another and so on until the numbers work.

I agree with @Lien Vuong.

I'd talk to lenders about refinancing, especially right now you could potentially get great low rates for a buy and hold.

@Paul Sandhu

Awesome thread man.

@David M.

No that's totally possible, but I'm committed to getting my first rental property this year, and balancing my savings for reserves is priority one. It's a catch 22, payoff debt and be too broke to buy a house or save/get the money needed but be 1% short of DTI requirements. I'm literally that close. Its ridiculous

Guess I'm not officially banned

@Mindy Jensen

I was just banned. I literally was using the biggerpockets.com/meet and messaging people in my area trying to connect. I'm not even sure when I send this it will go through. Sorry, I was just doing one of the things I read on this site to do...

@Michael Carbonare

Yes I'm ramping up to go into my marketing campaigns this week. But to have a buyer is also necessary, isnt it kinda malicious to do it the way this course tells me to? I was starting to put together the data for the fake ads and thought, wouldn't it be better if I had already gotten a deal or at least asked some flippers what their criteria was? Then, I'd be posting ads on CL anways.

@Tom S.

Hmm. I keep getting these offers. I dont act on them of course, but I'm looking into it now in order to lower the DTI.

I know the score will drop upon opening a new account, but if it raises in a couple of months back to or above it's current score, it's worth it.

@Joseph Cacciapaglia

Thanks. Yes, I know the hard inquiry for opening the new card will bring the score DOWN. But the idea is, that the 3 zero balances and paying off two other accounts will balance it out...?

Recently bought a course to help me focus on my goals and jump start my marketing. The first lesson however was to amass a buyers list. The lesson essentially says to create a fake ad for a house that needs tons of work, and have potential buyers interested respond with their name and number. Upon calling them, I'm supposed to apologize that the "fake" house has been sold and use the opportunity to ask them for their specific criteria for future deals.

This seems shady and dishonest, especially for beginning a very important relationship with future partners with a lie.

What are some better, more ethical strategies for finding buyers? I am already going to REIAs, etc. I would like to try a variation of this strategy of posting ads, but not with fake deals. Thoughts?