All Forum Posts by: Nicholas Henry

Hey everybody, I'm in a situation I never saw coming, and hoping for a little advice. I bought a house with my ex, and after a few years, we split up (on good terms). She wants to buy me out of my share of the house, which I fully support. The thing is, our mortgage is at about 2.8%, and I don't have to tell you how much higher it would be if we refinanced to get the mortgage in her name alone. So:

Am I right in guessing that if I sell her my stake in the house and take my name off the deed, but I leave the mortgage alone (with both our names on it), my credit score would plummet? 

Thanks!

Hi Everyone,

I have enough cash to finance my first purchase on my own...but should I? 

Aside from the learning experience, there are several reasons why I might (or might not) want to take out a loan.

My target investment:

- SFH in the Cleveland, OH area
- $30-$50K purchase price + $10k-$40k rehab (or maybe more for both, if I get a loan)
- Looking to BRRRR or possibly flip

About me:

- I have my real estate license, but just for MLS access, never used it
- FICO is around 725-750
- I work a 9-5 and make about $65K per year
- I live in Oakland, CA, and I've never owned property (although I have managed it)
- I have a fair amount of extended family near Cleveland who are in the building business, so I have some trusted referrals for contractors.

What do you think, BP fam? Any feedback would be greatly, greatly appreciated!

Thank you!

Hi @Adonias Dawit, I would definitely like the name of that contractor as well, could you PM me? 

Thanks!

Thanks for the info everyone. I was hoping to maximize my time there when I visit, by it sounds like I’d be better off letting a good local agent find me some deals that they can then show me.

That said, if anyone knows of a good investor-friendly agent in Cleveland, please enlighten me!

Thank you!!

Hi, I'm also very interested in the recording, wish I could make it in person!

Hi All,

Newb question for you: I am a licensed real estate agent in CA, and I want to shop homes in Cleveland, OH. Do I need a local agent to view the properties, or can I get access as a licensed agent?

I know that the law is very clear about doing any actual business out of state, however I'm not sure about simple home/lock box access.

Thanks!

Hi Everyone,

I'm brand new to REI, so please bear with me!

So, I already have my real estate license, but I have zero experience (I don't want to be an agent). I'm looking to do my first REI deal soon, most likely buying a distressed SFR and doing light rehab to flip, but I'm open to other ideas. Researching like crazy, but still a total newb. I do have some savings, and I want to start off with relatively small/safe investments. Since I'm living in Oakland, CA, that means going out of town. I'm looking at some nearby markets (Sacramento, etc), but the Bay Area itself seems like it's out of my league - not just in terms of home prices, but in terms of finding a GC and getting work done in a reasonable amount of time.

That said, I'm trying to decide which MLS to sign up for, and I'm having trouble getting detailed info about the differences in options. I've hung my license with REeBrokers, and to sign up for an MLS, they're giving me the following choices in the photo below.

Any advice or info would be greatly, greatly appreciated!

Thanks!

I just hung mine with REeBroker, which got a few good recommendations on here, and seems to have very competitive numbers. 

Hi Everyone,

My name is Nick Henry, but everyone has been calling me Jupiter since I was 6 - it's one of those weird childhood nicknames that just stuck. I live in Oakland and work 9-5 in SF.

I've been a licensed real estate agent for a few years, but not really using the license. I got it when I was working at a property management company, and I was considering becoming a residential agent, but then I decided against it. I'm very curious about how to maximize all the advantages of having my real estate license as I begin investing in real estate this year...but I'll create a separate post for that topic, this is just my intro.

Now that I'm preparing to start investing in real estate, I'm looking for all the info and advice I can find. I'm very interested in rehabbing/flipping, and I'm looking at BRRRR as well.

Looking forward to getting to know a lot of you all!

- Jupiter Henry