All Forum Posts by: Pete Storseth

I'm considering a different approach. I think I'll market on social media for deals and cold call some landlords since people are supposed to be at home in quarantine. I'll try to find good deals and possible seller finance deals that I could wrap instead of rent. If the timing works out perfectly, people will really need loans and of the lenders are locked up, I could help them out. Still may be good to have reserves for those deals though.

I'm hoping that if things aren't returning to normal, I can be of service to those in a bind. And for my effort, God and karma should work to my favor.

@Tom S.

Thanks, I'll check my options. Good to know that it's not too late yet

@Fred Shatzoff

Yes, I'm sure there's some tire kickers out there right now with not enough conviction to follow through, but it's an uncertain time and smart they at least did the research

@Joseph Cacciapaglia

Thx, yes I would definitely need to make sure the interest rates work for my deal also

@Timothy Hero

Thanks. I'm sure that will be a factor to consider

@Ryan Wiedner

Be sure to call around. Fha is good but you may want to consider multiple lenders that will work with you. Fha is offered by most banks, but I've found smaller banks that offer their own owner occupied loans work with new investors better

@Neil Aggarwal

I am going to check out multiple title companies, maybe just a few have this "policy" but it doesn't make it illegal

@Henry Derbes

What kind of reserves? Just vacancy until you can find a tenant/buyer?

@Ryan Wiedner

Are you using fha or portfolio lender?

@Neil Aggarwal

Doesn't sound right. Why would title companies force wraps into loan assumptions?