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Updated about 4 years ago,

User Stats

25
Posts
9
Votes
Christopher Owens
  • New to Real Estate
  • Bremerton
9
Votes |
25
Posts

newbie first deal with parents house

Christopher Owens
  • New to Real Estate
  • Bremerton
Posted

hello friends thank you for reading this,

so im trying to get into real estate i want to buy my moms house for the price of the mortgage of  $70,000 but sells for around $135,000 my dad is out of the picture and we are not on talking terms and we want to get his name off the deed and payments while setting this house up as a rental i used the calculator on biggerpockets it seems with rent rates i won't cash flow but thats ok im just looking to start my buy and hold career. my mom recently got solar panels if i buy the house would that be a lien i am responsible to pay up front is there another way to transfer title then i can just refinance under my name and take over the loan? im looking for my important next step who should i talk to to figure this out, i appreciate everyone's time and efforts.