All Forum Posts by: Randy Hamilton

In your example, the front end loan amount will be $180k (purchase + rehab). For the refi on the back end you will need an ARV to determine how much the loan amount would/could be. I hope this helps. Good luck!

@scott pyrcz,

My understanding is that, while it may be rare, transferring the deed to an entity can trigger the due on sale clause in the mortgage, allowing the bank to call the loan. When I began my REI education, all of 7 months ago lol, I was very interested in "subject to" financing but for me personally, any risk of the mortgage being called is way too much for me. I hope this helps. Good luck!

@Benjamin Tucker & @Dmitriy Fomichenko, thank you both!

@Brendan Markle, thanks for the welcome and the advice. I actually upgraded to Pro after my first webinar Wednesday night.....awesome stuff! I've lost count of how many podcasts I've listened to, this site is becoming addicting! 

My name is Randy Hamilton. I'm 46 yrs old, married with 3 daughters. I am a roofer by trade. I have a full time job in Philadelphia along with my own small company. If anyone wants to know anything else about me, please don't hesitate to ask. I will work on the profile pic.

My only experience purchasing real estate is the purchase of our home 17 yrs ago. I've also been a tenant a couple times.

I have spent the past few months searching different real estate related topics on the internet, which led me to BP, and trying to learn a little about the market I'm interested in(Philadelphia). I have a plan which I believe is actionable. That plan is....

 I would like to use small multi family properties to build a sustainable portfolio, not only for my family now, but, that I can turn over to my girls some day.

Now that I look at it, maybe that's more an idea than a plan... No, that's the plan, that much I know.

The other things I know are,

I don't know much.

It won't be easy.

I won't be a millionaire in 18 months(man this 1 would be nice though)

I'm looking forward to both the journey and the challenge!

Thank you to everyone who takes the time to read and hopefully reply to this post. I look forward to becoming an active and valuable(hopefully) member of the community.