All Forum Posts by: Mack Owens

Derek, thank you for the response. 

Yes, the property is currently deeded in my personal name and I am wanting to refinance (using a traditional mortgage with hopes of securing 30-year mortgage at low interest rate) while transferring the deed to an LLC (retaining the same 30-year loan on the property). I have heard of people doing this time and time again on the podcast as well as in the forums.

Sorry for any confusion, I appreciate your thoughts!

Hello BP,

Currently house-hacking a duplex purchased at the end of May using private money but am running into the road block of finding a bank in my area that is willing to work with a Quit Claim Deed. Obviously I am wanting to secure long-term financing while rates are so low and get the property into an LLC for the added protection.

 Most banks that I have spoken with seem to understand the concept and do not seem opposed but aren't willing to provide any form of written guarantee that once the Quit Claim Deed takes place they won't call the note due. 

Would love suggestions, advice, connections if at all possible!

Kelly, 

Thank you for answering my question! I definitely used your advice during the walkthrough!

Hello BP,

I will be walking through a triplex tomorrow and want to get an idea of some essential areas of review as I'm going through the units.

Any advice at all, no matter how obvious it may seem, is and will be greatly appreciated!

Thank you in advance!!

-Mack

Hello Zaid,

I am prefacing this response by saying that I am newbie and have yet to complete my first deal. 

But as I saw this post I thought that a great way to generate leads would be to spend some time growing your network. I am a firm believer that reaching out to those around you that are successful will in turn help you even if you are only able to steal a few moments of their time. Find out what they have done to generate leads and then replicate it!

Just an idea, Hope that helps!

I look forward to attending this event! Should attendees bring anything, finger foods/cookies? 

Wow, I just want to thank all of you that have responded so far to this post. Each of you has brought insight to different aspects that will be taken into heavy consideration! Again, I truly appreciate it and will use all the advice to continue learning, growing my network and preparing myself to begin my REI journey. You all have been awesome!

-Mack

Hello,

I am a certified newbie that has been spending lots of time trying to grow my knowledge and network on all things real estate investing. My spouse and I have targeted that we want our first deal to be a house-hack. Our goal is to find a duplex, triplex, or quad but we are on opposite sides of whether it should be a turnkey place or one that we can fix up ourselves. 

Would love some pros and cons for each option! Thank you so much for any help you can provide! Feel free to connect with me, I am located in Abingdon, VA.

-Mack Owens