All Forum Posts by: Kyle Jacobson

 Thank you! Im still working on getting the terminology down, when I search buy out a mortgage I came up with less than useful advice. I will check into that YouTube channel and watch it. I believe I am on the knowledge gathering portion of my journey and Im grateful for any and all advice on where to find the right knowledge. 

@Tom Gimer Thanks for the info! I have read about the Due on sale clause as it pertains to wholesalers, but I didn't know it could apply here, thats great advice. All of those benefits are really good, and exactly what I would be looking for in a good deal, but I think that my lack of experience could put me in over my head with by moving on this one right out of the gate. 

I really appreciate you taking the time to help me!

@Hamp Lee III Thank you for the advice! I agree that Im likely not quite ready for something this complex for my first one, especially since I need to raise the capital to get it. We have some with out current home, but not enough to pay cash for the property. To your point about a partner, I would be willing to, but I haven't cemented those connections yet to feel confident. My wife and I are ready to get started, but we don't want our first step to be off a cliff either. 

Hey, First time post, we are just getting started, have been listening, reading, and analyzing properties. We found one on Craigs list, it is backed up by a MLS listing. It is a Duplex, in fairly rough shape, would need about 45K in fixes according to the estimator tool on the site. When I emailed the posted on Craigs list, they offered me the option of buying them out and assuming the mortgage on the property. Please bear with me, Im like infant new at this, but what exactly would that mean, how would it work, and what would be the benefits/ drawbacks from doing it?

Thanks! 

-Kyle