The Rise of the Real Estate "Investor"
Posted in Technology, Tools and Tidbits By TReXGlobal, Thursday, February 26, 2009.In just a few days (3/1), Fannie will start allowing investors to hold up to 10 mortgages and get Fannie Mae backed loans. The limit had been previously reduced to 4.
It's a good move - investors account for at least 22% of the market, and 75% of their purchases are single family homes, condos, and townhouses - so they can clear up some of the inventory.
There will be an increase in activity from investors who had been halted by the 4 property limit, and it's certainly a good time to market to them.
Agents can start by getting a list of absentee owners from their local title companies and sending content and resources for investors (hint: it's tax season)... If they have websites, they should should add a "For Investors" tab to help connect with web traffic... ETC...
Feel free to discuss other strategies agents can use to increase business with investors in the coming weeks. We hold a 25 minute webinar on "Marketing to Investors," you can drop by and share your thoughts there as well.
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Submitted by TReXGlobal on March 3, 2009 - 4:42pm.
I asked investors on BiggerPockets.com whether they had been halted by the 4 property limit, and here's the response
In lieu of Fannie's new loan limits, and the fact that investors who had been previously halted now will be looking again - we are kicking off "March Marketing Madness" (a stimulus plan aimed at connecting agents with these emerging investors)
I know most of us get individual emails, so for the sake of your inbox, bookmark these real estate marketing tips on how to be successful with investors.
Submitted by Daniel Bretzke on March 4, 2009 - 12:30am.
I have found in my group of investor friends, it has stopped refinancing of their personal residences as well, as if they have five loans, then they are over the limit.
It is true that smaller banks will loan over the 10 loan limit, but even the small banks under writters are cautious and tend to follow the national trends.
I have one friend who has seventeen mortgages. He is still successfully selling and buying as he does not over pay, and when he sells it is the best house on the market for the money.
Submitted by Daniel Bretzke on March 4, 2009 - 12:31am.
I have found in my group of investor friends, it has stopped refinancing of their personal residences as well, as if they have five loans, then they are over the limit.
It is true that smaller banks will loan over the 10 loan limit, but even the small banks under writters are cautious and tend to follow the national trends.
I have one friend who has seventeen mortgages. He is still successfully selling and buying as he does not over pay, and when he sells it is the best house on the market for the money.
Submitted by Michael Dammann on March 4, 2009 - 12:46am.
For those of you who would like to connect with lenders, developers and investors, this is the real estate investors group to network on at Facebook
http://www.facebook.com/group.php?gid=52901373946
Submitted by Carlo Capomazza on April 13, 2009 - 7:20pm.
I'm opening a door to those investors who have 500k in cash or investments that want to bank with BOFA who will be the largest lender in the world now that their absorption of Countrywide is complete. So, if you want the most competitive rates with floaters then ask me for my contact. He's here to help get investors who make up the backbone of this housing market get back into the game.
Yours,
http://www.VisionaryRealtyNews.com
Submitted by Sean Lee on June 16, 2009 - 9:52am.
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