All Forum Posts by: Obed H. Bey

@Cory Carlson... That's just the kind of information I needed. Awesome. Thank you!

What holding me back?

#1 Education: I've never a deal a became really serious about learning enough to get started recently. I've been on BP reading guides, watching podcasts and other random videos I think will be helpful. Today is my stop in the Forum and its been great so far.

#2 Finding The Right Strategy: I recently moved from San Diego to Philly on super short notice because the care my daughter requires is at Children's Hospital and Wills Eye Institute. In doing so I resigned from my job and shut down a training business. For the most part the feedback I've received so far on BP is get a good paying job so that I'm able to work with lenders. Along with real estate investing I'm working towards another entrepreneurial project that won't produce income until closer to the end of 2019 (at best).

SO here's the situation I'm in searching for a strategy: I have a family member willing to partner on "the right deal" offering 75k equity from his home. I also have 10-20k cash to bring to the table. My cousin (an experience investor) also offered to help me with the deal because he knows fear and lack of experience is holding me back. I'm interested in House Hacking a 2-4 plex in Philly or New Jersey to get started.

Where there's a will, there's a way. I have the will but don't know the way. What do you think?

@Christian Becker thanks for the advice. Much appreciated

Hi @Kirky Galt thank you for your input. Much appreciated. On BP its all about transparency. So Here's my situation. ​The past several years While my wife was finishing school I was the primary earner. We decided that after completing school we would start a family and switch roles. While in my new role as Home Maker (still getting used to it) I would pursue entrepreneurial projects, including real estate.

Therefore I'm trying to come up with creative strategies to invest in real estate while not working. Last night I had what might be a crazy idea. I thought of forming an LLC (as a protective measure) and using the home equity option (offered by family) to purchase and doing either a Brrr or flip to get started. And when the time is right transfer the LLC to me. Obviously I need the advice of a CPA and possibly an attorney but this was on my mind early this morning.

Am I crazy?

Hi @Quito Keutla thank you for your input. Much appreciated. On BP its all about transparency. So Here's my situation. ​The past several years While my wife was finishing school I was the primary earner. We decided that after completing school we would start a family and switch roles. While in my new role as Home Maker (still getting used to it) I would pursue entrepreneurial projects, including real estate.

Therefore I'm trying to come up with creative strategies to invest in real estate while not working. Last night I had what might be a crazy idea. I thought of forming an LLC (as a protective measure) and using the home equity option (offered by family) to purchase and doing either a Brrr or flip to get started. And when the time is right transfer the LLC to me. Obviously I need the advice of a CPA and possibly an attorney but this was on my mind early this morning.

Am I crazy?

Hi @BrianGerlach thank you for your input. Much appreciated. On BP its all about transparency. So Here's my situation. The past several years While my wife was finishing school I was the primary earner. We decided that after completing school we would start a family and switch roles. While in my new role as Home Maker (still getting used to it) I would pursue entrepreneurial projects, including real estate.

Therefore I'm trying to come up with creative strategies to invest in real estate while not working. Last night I had what might be a crazy idea. I thought of forming an LLC (as a protective measure) and using the home equity option (offered by family) to purchase and doing either a Brrr or flip to get started. And when the time is right transfer the LLC to me. Obviously I need the advice of a CPA and possibly an attorney but this was on my mind early this morning.

Am I crazy?

Thanks Kirky. I loved San Diego. Beautiful.

And thanks for the input. I'm learning and asking all the questions I can.

Hi BP Family,

I just moved to the Philadelphia area with my wife and daughter from San Diego and don't currently have any true income coming in. I've never done a deal and I'm here to learn the ropes before diving in (thanks BP). I'm interested in house hacking a small multi family home in Philly or Jersey. I have a family member willing to help finance a deal with 75k equity from a home, another potential partner (underline potential), and some liquid cash (10-20k). How do I get a deal done?

Hi BP Family,

I just moved to the Philadelphia area with my wife and daughter from San Diego and don't currently have any true income coming in. I've never done a deal and I'm here to learn the ropes before diving in (thanks BP). I'm interested in house hacking a small multi family home in Philly or Jersey. I have a family member willing to help finance a deal with 75k equity from a home, another potential partner (underline potential), and some liquid cash (10-20k). How do I get a deal done?

Thank you Josue. I appreciate the input. Reading and learning from others is exactly the plan. I'm also seriously considering taking a real estate course to help with the fine details.