All Forum Posts by: George White

Hello BP,

I am in talks with a lawyer to have my name put on the deed to my grandparents home. The house still has a mortgage balance with an rate of ~6.26%. I would like to have this rate dropped to current market rates and save them (and myself) some much needed money. I know with my credit history I can get a great rate, but in order to do that I would need to have the property deeded to me.

My question: In order to get the best rate should I have the deed contain only my name as the sole owner in order to get the best financing? Or can additional names be included on the deed (joint tenancy) without negatively affecting the banks loan decision?

Hello @Maureen F., I do plan on being an owner-occupier. I will start off by purchasing one multi unit this year. Its tricky as the market in MA is over-priced so it may have to be in RI or VT, but that would be my fall back plan. The closer to the city or major highway, the better.  

My thinking is to create a team (or join a team) of folks who are already involved with the rental market. I just do not know where these people meet or how to make that initial contact.

Thanks for the interest. I hope things go well for you and your current purchase/rehab. 

Thanks for the warm welcome everyone. I appreciate the how everyone took time to point me in the right direction so quickly. 

Helllloo Bigger Pockets!

New England resident. Working full-time in IT for over 10 years. Trying to work out how to get off the fence and get into the real estate game for the last 8 years (so sad) . I have known for years that real estate is key to building wealth but I am a complete novice to the industry. My dream is to be the first person to own a home since my grandparents moved here.

I have tried to obtain my real estate license twice with no luck, but I do not think it is essential to become successful at investing. 

I am eager to learn as much as I can from the BP community and pass that information on to my friends and family.