Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here
Pick markets, find deals, analyze and manage properties. Try BiggerPockets PRO.
x
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Tom Fields

Tom Fields has started 2 posts and replied 20 times.

Post: contractors in Hampton Roads

Tom FieldsPosted
  • Wholesaler
  • Annandale, VA
  • Posts 24
  • Votes 3

Looking for an HVAC guy in Newport News area. Have an older unit that may be leaking freon. Freezes up every 2 yrs.

Post: I want to wholesale ... I dont know where to start. help!

Tom FieldsPosted
  • Wholesaler
  • Annandale, VA
  • Posts 24
  • Votes 3

Haitham,

Forget emails and phone calls. People do not like to listen to people reading them scripts. Go to the physical office or meet your agent for coffee, shake hands and talk. If you know what you want, tell them. If not, ask them to help you get smart. John Bevans gave you a seminar in his one post on the how-tos. The advice to go to real estate investor meetings is great. You will meet real people who want to do business and help other real people. 

Good luck. 

Tom

Post: Alternatives to Yellow Letters

Tom FieldsPosted
  • Wholesaler
  • Annandale, VA
  • Posts 24
  • Votes 3

You can use this nifty trick to "hand sign" your letters and return addresses. Once and done. NOTE: Vary from your legal signature enough so it can't be abused. Other Word versions may vary somewhat, but you guys can figure it out. this is for Word 2013.

Signature Magic

@Jerry Puckett @Mike Quarles and others great tips. Mike, loved your podcasts.

Try this for a realistic signature on mailings. If you have a watermark (or lines, or whatever) behind your letter text, the effect is awesome. I was pulling my hair out trying to figure out how to get a signature slug without having

to hand craft - and without the doofy white box.Before (above) After (below)

1. Sign your name on white paper in something bold, like a thick pen or sharpie. Let dry.

2. Scan (set resolution high) and save as an image/picture. Use file format TIF or TIFF.

3. Insert the picture file into your Word doc. (Where your signature would go on the letter)

4. Click on the picture after it appears on your doc. At the top of the Word screen look for a "PictureTools Format" popup. double click it to bring up the Picture format menu.

5. In the "Adjust" menu section, click the dropdown arrow by "Color."

6. From the Color options menu, at the bottom, click Set Transparent Color.

7. Drag the tool (looks like an exacto knife) and click on the white area that is the current background.

Bam! Your signature is now over whatever it would be over if you signed manually.

Tom Fields

Post: Anyone doing FHA Streamline Refinance?

Tom FieldsPosted
  • Wholesaler
  • Annandale, VA
  • Posts 24
  • Votes 3

I am looking to do this also on an owner occupied, where the occupant has moved on after the 1 yr requirement. The original lender sold the mortage to wells fargo, who services it. Should I go to WF or the originator of the FHA loan to do the streamline - mainly to get the mip reduced and interest rate down some.

Post: DMV Meetups???

Tom FieldsPosted
  • Wholesaler
  • Annandale, VA
  • Posts 24
  • Votes 3

@Roger Lin I have been to a couple of the Capital REI meetings in Fairfax and recommended several colleagues. The speakers and topics are focused and relevant and networking is great.

The BWI meetup group is worth going to also. I went specifically to hear about tax sales in Baltimore and got a great understanding of the process from @Ned Carey's presentation.

Post: Northern Virginia (NOVA) newbie

Tom FieldsPosted
  • Wholesaler
  • Annandale, VA
  • Posts 24
  • Votes 3

Hi @Spencer Flagg,

Our market lives in a world of its own, like every other market. Looks like you are getting some good advice from the replies. A recent podcast (#105) from a local (PG County) flipper and landlord was inspiring re the opportunities to be had in nearby MD. 

Good luck. Hope to see you around.

Post: Furnace only works when filter is removed

Tom FieldsPosted
  • Wholesaler
  • Annandale, VA
  • Posts 24
  • Votes 3

funny. Glad it was a simple fix. Had a similiar problem with AC not cooling.

My tenant had replaced the filter, which was due for a change, a cheapie brand. The fix was to flip the filter around...so the little arrows align with the air flow.

Post: New PMI Rate for FHA loans

Tom FieldsPosted
  • Wholesaler
  • Annandale, VA
  • Posts 24
  • Votes 3

@Nathan Buss 

Do you know if this applies to existing mortgages or just new FHA loans?

Post: Self Directed IRAs

Tom FieldsPosted
  • Wholesaler
  • Annandale, VA
  • Posts 24
  • Votes 3

@Loren Whitney

Here's a question for you. I am about to turn 58. Can you compare and contrast the benefits of converting and using SDRA vs. regular IRA, vs. Roth IRA for RE investments. If an IRA can be drawn down anyway at 59 1/2 I wonder about the differences and troubles vs using cash from a taxable account and/or financing.

Look forward to your insights, and anybody else that wants to chime in.

Thanks.

Tom