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hawaiiloans
108 Posts |
 Posted - 10/03/2007 : 6:41:49 PM
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By some stroke of great luck I've managed to get 2 realtor meetings, and an open house with a realtor.
I probably didn't do as well as I thought, but enough so I was offered to sit at open houses from 2 of them. One has sent me a client who needs to be pre-qual'd.
I'd like to market to realtors more, and I had a previous post where I asked if Chad Weber's average LO would be the best program to get into. Just got a check from escrow from my first loan and was wanting to invest my profits.
Another great thing is because I can speak Japanese and there aren't too many Japanese speaking loan officers I have a huge niche market, but most Japanese buyers have cash.... therefore the reason why they don't have too many loan officers. |
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aspiring1
1358 Posts |
Posted - 10/03/2007 : 7:54:02 PM
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So Richard...uhh, what's your point?
LOL, just kidding. Hey, pretty good stuff that you got in with the realtors that you did get in with. You do have a good niche market speaking Japanese. Did you know that the Asian market is THE if not one of the fastest growing market of homebuyers? Have you thought of holding seminars on homebuying; invite your target niche and educate them on how saving a sum of money in the bank (hint: down payment/seasoning) can help them reap rewards in future investing (hence: real estate). Just an idea. I mean...in Cali there are certain ethnic groups who are known to have lots of cash stashed away; but small amounts in their bank accounts - proving to be an obstacle in today's market.
I don't market to realtors just yet (maybe I should) but I have heard nothing but good things about Chad Weber, and of course I have several of his teleconferences. Best of luck! |
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darkstar
26263 Posts |
Posted - 10/03/2007 : 7:54:27 PM
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| Congrats on the closing and referral!...I don't know Chad's program, but I know Chad and I'm sure if he wrote it, it's grade A material!... |
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hawaiiloans
108 Posts |
Posted - 10/03/2007 : 8:08:45 PM
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| Reading my post over makes me feel stupid LOL |
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darkstar
26263 Posts |
Posted - 10/03/2007 : 8:36:53 PM
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| Lil too much wowie? LOL |
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hawaiiloans
108 Posts |
Posted - 10/04/2007 : 6:53:41 PM
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| Took my by suprise that none of them tried to rip my head apart, after hearing all this talk about how they look down on us LO's.... |
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velecico
5309 Posts |
Posted - 11/04/2007 : 4:53:27 PM
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Must the MAUI WOWIE that keeps them civil |
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aspiring1
1358 Posts |
Posted - 11/05/2007 : 08:48:35 AM
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quote:
Originally posted by velecico
Must the MAUI WOWIE that keeps them civil
Now THAT is funny. lol |
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brbgsm
450 Posts |
Posted - 11/05/2007 : 1:02:45 PM
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I don't get it...What's all the buzz about quote:
Originally posted by darkstar
Lil too much wowie? LOL
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velecico
5309 Posts |
Posted - 11/05/2007 : 4:16:34 PM
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Can I get some of that Maui ? |
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tomwatson
164 Posts |
Posted - 11/07/2007 : 1:34:46 PM
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| Richard you mentioned that you have the potential niche with Japanese buyers and that many pay cash for their homes. I am no expert, but would suggest you research the tax implications of paying cash and later adding an equity line versus initially financing a property. This may work to get some cash buyers to use you instead and also put you in a position where the realtors have great respect for your expertise. Again.. I am not an expert and not giving tax advice ... my understanding is that acquisition debt can go up to an interest limit of 1.1 million or more and any loan put on the property further out than 90 days from purchase is limited to interest on $100,000..I am sure others here are more versed in this area than I am and can add more.... |
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hawaiiloans
108 Posts |
Posted - 11/07/2007 : 2:21:25 PM
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Thread ressurection!
That's a great idea researching up some tax implications. I can get around the cash buyer by applying this technique. I'd like to find out more info on this but I don't know where to look.
As for realtors I'm working with one by sitting in on open houses. I had another realtor I did that with too but she has moved on to another realty and I have to get back to her. It's all about finding several you like to work with. It's a numbers game meeting them. |
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Mandyvilla
6395 Posts |
Posted - 11/11/2007 : 07:09:23 AM
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Richard, you have something that sets you apart from the other LOs in the market, speaking Japanese. Does that skill carry over into writing, too? That is your marketing angle. Use it.
It's very likely you will find a closed community of Japanese speaking professionals - realtors, accountants, bankers, attorneys - but there is no reason why you can't break into that community. If there is a tradition of paying cash, then the LO competition in those circles should be minimal. After realtors, I would be in touch w/ the accountants - who better to know the benefits of a tax deduction? Be ready for the first call......it may not be a deal, but a plea to help translate. That's what you want! See, once you help someone out, there is a subliminal need to reciprocate.
Be sure your business cards and all materials reference this additional talent. Give your card out to anyone that may touch our industry - including the clerks and staff at the local courthouses (after all, who sees all the attorneys), service providers, major employers, and yes, your competitors. You have your niche. Now get the word out. It won't be the primary reason you get a loan, your knowledge of the industry must do that. But it does create an opportunity. |
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