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All Forum Posts by: Obed H. Bey

Obed H. Bey has started 18 posts and replied 54 times.

Thanks for the insight

Post: SFH in pre-forclosure; owner recently deceased. What should I do?

Obed H. BeyPosted
  • Philadelphia, PA
  • Posts 54
  • Votes 6
Originally posted by @Brian Midden:

@Obed H. Bey

Do your research and see what the house is valued at. Zestimates mean nothing. Get comps from the MLS and see what the value of the home is.

Instead of passing on the deal I would suggest trying to wholesale it if possible.

 Can't hurt to do the research right? Thanks so much for the input. Much appreciated.

Post: SFH in pre-forclosure; owner recently deceased. What should I do?

Obed H. BeyPosted
  • Philadelphia, PA
  • Posts 54
  • Votes 6
Originally posted by @Thomas S.:

Stick to your plan of house hacking a multi. Foreclosures are common as dirt.  No reason to get excited about this one.

 Thank you. I appreciate the input.

Post: I need a good morgage broker in the Philly area

Obed H. BeyPosted
  • Philadelphia, PA
  • Posts 54
  • Votes 6

I'm a green horn (never done a deal) and learning all I can. Looking for a mortgage broker in the Philly area to review my options. Any suggestions?

I'm a green horn (never done a deal) and learning all I can. Looking for a mortgage broker in the Philly area to review my options. Any suggestions?

Post: SFH in pre-forclosure; owner recently deceased. What should I do?

Obed H. BeyPosted
  • Philadelphia, PA
  • Posts 54
  • Votes 6

I'm interested in house hacking a MFH but I just found out about a SFH across the street from my mother. Previous owner passed away and per Zillow it was scheduled for auction as of 2/6/19. Listed at 90k with a Zestimate range of 127k-165k.

I'm a newbie, never did a deal but learning (thx BP!). I feel like a deer in headlights. WHAT SHOULD I DO?

I'm just starting (haven't done a deal yet) and want to learn the important details to avoid major mistakes. I know "experience is the best teacher" and the key is ACTION!, but I don't have deals or time to burn unnecessarily. I'm networking on BP and sharing my plans with others while hoping to organically develop a relationship that will turn into a mentorship. I know I can do this, I just need to get a feel for the game and I'll be off and running.

Will taking a real estate agent course speed up my learning curve? If yes, any suggestions in the Philadelphia area?

If no, why?

Finally, I'm open to any all suggestions, connections, and input that will be helpful in my journey.

...thx BP

Post: Is a Real Estate Agent course helpful to my education?

Obed H. BeyPosted
  • Philadelphia, PA
  • Posts 54
  • Votes 6

I'm just starting (haven't done a deal yet) and want to learn the important details to avoid major mistakes. I know "experience is the best teacher" and the key is ACTION!, but I don't have deals or time to burn unnecessarily. I'm networking on BP and sharing my plans with others while hoping to organically develop a relationship that will turn into a mentorship. I know I can do this, I just need to get a feel for the game and I'll be off and running.

Will taking a real estate agent course speed up my learning curve? If yes, any suggestions in the Philadelphia area?

If no, why?

Finally, I'm open to any all suggestions, connections, and input that will be helpful in my journey.

...thx BP

Post: So what's holding you back?

Obed H. BeyPosted
  • Philadelphia, PA
  • Posts 54
  • Votes 6
Originally posted by @Frank Patalano:
Originally posted by @Obed H. Bey:

@frank patalano

That is very encouraging. I really appreciate it. This might be being the scope of this discussion so forgive me. I'm ready to take action but feel I need more guidance and know how from someone more experienced. 

I know one of my next important steps is to go to a couple banks to speak with lenders about options. I believe that information will help structure my acquisition strategies. Hopefully there's more than one strategy that makes sense in terms of my goals. Any thoughts or suggestions?

 My local real estate group has a few local mortgage guys right in it. They always sit with new investors in the hopes of generating future business. Talk to a mortgage broker over a lender at one bank. That one person will have many different options and banks at his disposal. Sometimes they will also be connected to their own hard money lenders.

 Thank you so much for the advice. I wouldn't have thought about that. If you have some specific morgage guys for me please let me know. I really appreciate the input

Post: So what's holding you back?

Obed H. BeyPosted
  • Philadelphia, PA
  • Posts 54
  • Votes 6

@frank patalano

That is very encouraging. I really appreciate it. This might be being the scope of this discussion so forgive me. I'm ready to take action but feel I need more guidance and know how from someone more experienced. 

I know one of my next important steps is to go to a couple banks to speak with lenders about options. I believe that information will help structure my acquisition strategies. Hopefully there's more than one strategy that makes sense in terms of my goals. Any thoughts or suggestions?