I will soon begin. I've identified several multi family units. Also, I'm planning on putting down 50% cash on the exchange. Financing the difference. Can you advise further?
Hey Coach - thanks for the tips and cheat sheet. I'd love a deeper dive into direct mail and how to determine what's a fair offer (that's likely to be accepted), for an off market property. Thanks!
Thanks Coach! Do you take into account what the current trend in marketing looks like to figure out how to position yourself? For example, I tend to be hesitant to do direct mail when it is the season for a lot of investors sending out those pieces of mail. Is that overthinking it?
Good question. I think we do all have to consider what's oversaturated and try to be different. With direct mail, I think the best competitive advantage we have is being a unique person (not a corporation). If we can tell stories, share a picture, and just show we're a real human being - we're likely to separate ourselves. And even the big buyers spending thousands of dollars every month have a hard time being as personal as you sending a handwritten note to a few properties you find driving for dollars. Direct mail is a tough game - especially the bigger you get and more you try to scale it.
Coach, is that true in US the capital needed to buy a house is only 20% to 30% down payment? How about the next mortage payment? Are Bankers don't check the lenders job/business/other income to pay the loan? I'm from Indonesia, here on top of DP (similar 20%), but bankers not allow to give a loan if I don't have jobs/business to pay my mortage.
Hi Tirta, a down payment of 20-30% is typical, but most bankers do ALSO check additional criteria like your credit rating (a report that shows how well you pay other people/banks), your job history, your income, and your debts. So, a down payment alone isn't enough with residential investment mortgages. As you get into much larger loans - like $1 million+ with commercial properties, it is possible to get loans where the property itself is the main thing that's important. Your job/income isn't required.
You give great information!!
I will soon begin. I've identified several multi family units. Also, I'm planning on putting down 50% cash on the exchange. Financing the difference. Can you advise further?
Great video! A deeper dive in Wholesaling would be a good video. Wholesaling without a license, in particular, would be good to learn.
Good idea. Thanks you for the recommendation.
Hey Coach - thanks for the tips and cheat sheet. I'd love a deeper dive into direct mail and how to determine what's a fair offer (that's likely to be accepted), for an off market property. Thanks!
Thanks for watching, Michael! Great ideas for future videos. I've added both to my spreadsheet of topics for videos. Thank you for the ideas!
great stuff Chad!
Thanks Tony! Good to hear from you.
Great video. Thanks as always Chad!
Thanks for watching, Kyle! Good to hear from you.
Great video! Thanks
Glad you liked it! thanks for watching.
always enjoy your common sense comments! Thank you Chad
I appreciate that, Roland! Good to hear from you.
Good as always Mr. Coach 👏
I appreciate it Lagan! Thank you for watching. 🙌
Thanks Coach! Do you take into account what the current trend in marketing looks like to figure out how to position yourself? For example, I tend to be hesitant to do direct mail when it is the season for a lot of investors sending out those pieces of mail. Is that overthinking it?
Good question. I think we do all have to consider what's oversaturated and try to be different. With direct mail, I think the best competitive advantage we have is being a unique person (not a corporation). If we can tell stories, share a picture, and just show we're a real human being - we're likely to separate ourselves. And even the big buyers spending thousands of dollars every month have a hard time being as personal as you sending a handwritten note to a few properties you find driving for dollars. Direct mail is a tough game - especially the bigger you get and more you try to scale it.
Great stuff Coach. Thanks for the perspective.
Good webinar last night
Glad you could make it DJ!
Coach, is that true in US the capital needed to buy a house is only 20% to 30% down payment? How about the next mortage payment? Are Bankers don't check the lenders job/business/other income to pay the loan?
I'm from Indonesia, here on top of DP (similar 20%), but bankers not allow to give a loan if I don't have jobs/business to pay my mortage.
It depends on your debt to income ratio as well as some other factors
Hi Tirta, a down payment of 20-30% is typical, but most bankers do ALSO check additional criteria like your credit rating (a report that shows how well you pay other people/banks), your job history, your income, and your debts. So, a down payment alone isn't enough with residential investment mortgages. As you get into much larger loans - like $1 million+ with commercial properties, it is possible to get loans where the property itself is the main thing that's important. Your job/income isn't required.