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All Forum Posts by: Glenn Lee

Glenn Lee has started 3 posts and replied 8 times.

Post: Steps in a Subject To

Glenn LeePosted
  • Posts 9
  • Votes 2

I'm just getting started in RE investing ...I just started researching all this about 4 or 5 weeks ago, but one thing I plan on using is 'borrowed credibility" and it might help you in the future with talking to someone in this situation. Find a partner who has done hundreds of these deals and can help walk you through it.  Then when the homeowner is hesitant, you can say "my partner and I have done hundreds of these deals and we can help you each step of the way".  They don't need to know the partner has hundreds and you have zero.

Post: Steps in a Subject To

Glenn LeePosted
  • Posts 9
  • Votes 2

From my understanding, you want to try and avoid the banks getting involved.  When I was first shown how a subject to works, I was told the banks don't care who is sending them a check.  But I have subsequently heard of some banks calling in the loan if the home owner isn't the one making the payments so I guess it varies.  I'm interested to hear how this plays out.

I'd like to find a mentor for the BRRR strategy in Houston. I have a little money and can provide sweat equity. I'd like to shadow the rehab process...learning things to look for , cost estimates, managing contractors, etc. I figure this is a long shot but thought I'd give it a try.

It may be better to set up an investment account, put some money in it, and hopefully in 20 years it will have grown enough where she will be able to afford a downpayment, or a house outright.

Post: Repair Value accuracy

Glenn LeePosted
  • Posts 9
  • Votes 2

So...I'm new.  I found a listing on BP with a Repairs Value of $47k.  Does the selling agent come up with this number? It then seems logical to ask the agent,  "can you send me an itemized list of what needs to be done"?

Or is this just rough guess?

Post: Newbie in Spring, TX

Glenn LeePosted
  • Posts 9
  • Votes 2

Also, I am planning on starting small ATM.  I ordered Brandon's book for beginners to hopefully help me determine how to get into RE.  Maybe just start with a small single family home rental.  I have tons of questions though about how my capital will be tied up in that if I want to do a second deal, etc. so I am hoping the book will shed some light on it for me.

Post: Newbie in Spring, TX

Glenn LeePosted
  • Posts 9
  • Votes 2

Eric - I'm probably not really qualified to answer that as I am brand new but my guess is that would be at the upper limit of the range.  $250k I am assuming would be between 2100-2800 sq. feet?  I see those renting for probably 1800-2500 on har.com, depending on the neighborhood (Spring is a pretty large area).

Post: Newbie in Spring, TX

Glenn LeePosted
  • Posts 9
  • Votes 2

Hello. My name is Glenn and, according to the webinar I watched, in order to make all my wildest dreams come true I need to start networking with a post in here.

I'm tired of my 9-5 and want to stop just trading my time for money. I'm not exactly sure what I am looking for at this point, likely SFH to start slow and build from there. I live in Spring, TX which a suburb north of Houston.

Current RE knowledge: 2 out of 10

Motivation: 10 out of 10

Thanks