All Forum Posts by: Shiyear Woodbury

Yeah I just turned 21 in January and I now have two properties, my goal for the year is two more for right now. Thanks for advice @calebheimsoth

My question is if I want to buy a house to lower the chance of competition and I offer the person money and tell them I would also pay their back taxes in return for them to sign the deed over to me, what do I do or what happens if the house still has a mortgage? Do the payment roll over on me and I assume the payment (keep the mortgage in their name) or do the mortgage whip out and I become mortgage free? I'm confused so could anyone help me out thanks.

@Malik Welch 15 deals at 19. That's crazy but yeah I would definitely like to meet up.

@Greg s. Yes i have a job and looking for better one actually been working at IGA as high school job but looking for full time one. thanks for help

@Neil Schoepp okay I'll look right now thanks for help

@Neil Schoepp thanks for your help. And is there anyother way to find investors? I'm from Georgia. And I was just stating that it was over priced so I know how to find value and I know its overpriced 

@Joseph Caracappa @Kim Younkin thanks for help and Ima just start with FHA loan or 203k.

Ive been interested in real estate since I could remember. From flipping house to now apartment investing. After research and reading ALOT of articles and videos it just seems to click with me more then flipping houses. Only thing come in between me and apartments and that's money. Just graduated 2 mouths ago and I'm trying to get a jump at this career early, very early. I know about FHA loans and 203k loans but I was trying to do more then a 4 unit building. My biggest question is about equity. My parents own their house for about 5 going on 6 years. The apartment I was looking at is a 12 unit for 547k but is worth little more then 300k cap rate of 8.48% I think if I remember correctly in Augusta, GA. But say if my parents equity is around 60k. Would it be smart to use that as a down payment? Because wouldnt I then have to pay off my mortgage on apartment and then pay off my payments on the 60k of equity? And I'm not trying to split with investor right not until I build my portfolio and build credit higher. I would appreciate any feed back to help jump start my career, thank you very much.

@Joshua D. I work at IGA I have a little money saved for repairs but if deal doesn't work then I would just live in house until it does. I have partner so hopefully it would go better then being 20k in debt. I went over number though.

Yeah I wasn't gone use my parents money or credit I was going to use hard money and then use bank loan to pay off hard money once its renovated. But thanks for advice also