All Forum Posts by: Kevin Glover

I am a new investor and I am looking to house hack. So, my first property will be a multifamily where I will rent the other units and bedrooms in my unit to break even or create positive cashflow. 

Now, I will use private/hard money to get into the property and complete the rehab. But when it comes time to refinance, I want to have another option besides a traditional 30 year mortgage. 

What are my options?

@Eric H. How would that work if he didn't pay? Would she have to take him to court?

I sent out a direct mail campaign and got a call from a motivated seller a few days later. She lives in Chicago and owns a house in Phoenix free and clear. She is ill and wants to sell the house to relieve herself of the burden and provide some cash for her son and grandson. The problem is that her son is also on the deed and does not want to sell the house. She told me that he did not sign any paperwork during closing when the house was purchased 20 years ago. Her sister told her to put his name on the deed and she did. 

Is there any way around her son? Or what would you suggest I do to close this deal?

With an ARV of $255k is there enough meat on the bone for me to assign it if I got it under contract at $210-215 with it still needing some work? I want to make this deal work as this is my first time negotiating with a motivated seller but if it doesn't make sense then there's always another deal around the corner.

@Brian Gibbons I was actually reading some of your posts and watching some of your videos before I met with the seller. He was not open to the lease option as he wanted to take the cash from selling and pay off a friend and move to Texas.

Hello everybody,

My name is Kevin and I am a new investor in the Phoenix market. I thought I wanted to get into real estate investing last summer but I didn't really have the burning desire as I do now. 

I've heard some people say not to get an LLC and or website set up until you have done a deal but I'm one step ahead of the game by their standards. I have my main page as well as my squeeze page to build my buyers list.

A few hours ago I met with a seller but we were unable to come to a number that made sense for the both of us. His house was worth 255k and he wanted to get at least 210k out of it. The spread was so small so I figured a lease option would be a good way to create a win win for everybody but he wasn't having it. He wanted to cash out and leave the property behind as he is getting ready to move to Texas. 

Any ideas on an exit strategy for this particular deal?

Anyways, I'm looking forward to learning as much as I can from the members on this forum and becoming a truly active investor in this market.