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All Forum Posts by: Matt Mathews

Matt Mathews has started 0 posts and replied 156 times.

Post: Building My Buyers List

Matt MathewsPosted
  • Real Estate Consultant
  • yucaipa, CA
  • Posts 233
  • Votes 109

Any Buyer/Investors that tell me they buy pretty much anything without specifics, leads me to believe that they probably have no idea what their doing. If they are pros' they will know exactly what they want and will give you details.

Post: Equator only for RE Agents?

Matt MathewsPosted
  • Real Estate Consultant
  • yucaipa, CA
  • Posts 233
  • Votes 109

Be aware! April 5th New Short Sale rules go into effect that will make it difficult for any Investor to transact without a RE. Agent. Now may be the time to get out of residential and into multi-family and commercial. Fewer headaches, easier to finance and much more lucrative.

Post: Inspections: Go alone or with contractor?

Matt MathewsPosted
  • Real Estate Consultant
  • yucaipa, CA
  • Posts 233
  • Votes 109

My question is: Why wouldn't you NOT want to be there???

Post: Tax Credit:

Matt MathewsPosted
  • Real Estate Consultant
  • yucaipa, CA
  • Posts 233
  • Votes 109

The National Association of Realtors, Lobbyists recently were told by FHA and HUD to take a hike. The average Tax Credit Sale last year cost you and me the tax payers around 22 billion dollars. Enough is enough-Please!!!!! The current Tax credit in place will end in June. Contracts for sale must be made no later than April 30 in order to close escrow by July. The end, over, finished-Thank God!!!

Post: Tax Credit for Investors:

Matt MathewsPosted
  • Real Estate Consultant
  • yucaipa, CA
  • Posts 233
  • Votes 109

Tax credits are already available to Investors. Not like the first time buyer credit-but for rehabs, retro fits, energy efficient upgrades etc. Rehab/resale Investors should be tapping into going Green with their properties. Green rehabs are selling on average 40% over other like kind properties. Buy and Hold Investors are seeing above average rents. Many cities, and county's have programs in effect that encourage Investors to rehab and revitalize neighborhoods all across the US. Many cities (like mine) will even partner with you. It's a niche' market with very little competition. Check it out! Ca. is the place to be right now for Green Investors.

Post: I thought foreclosure problem was over!! Maybe not

Matt MathewsPosted
  • Real Estate Consultant
  • yucaipa, CA
  • Posts 233
  • Votes 109

You might want to check out my blog site. I have been writing about this Looming Double Bubble for months. While you there check out all the Investor/buyer resources available. Invest with the best!!!

Post: Tax credits expiring--what will happen?

Matt MathewsPosted
  • Real Estate Consultant
  • yucaipa, CA
  • Posts 233
  • Votes 109

FYI! Recently the NAR lobbyist once again made a last ditch effort to get the tax credit extended. FHA/HUD and congress pretty much told them to take a hike and banned them from further participation.
Second! FHA has set new guidelines for mortgages (still pending).
Raise downpayment from 3.5% to 5%
10% down for FICO under 580
More buyer documentation will also be required. The other item on the table is to restrict Seller financing only to the original owner and reduce concessions from 6% to 3%.
Mortgage Bankers Assoc. meeting indicated that since the Tax Credit incentives began in 2008 more than 28% of those first time buyer mortgages are now in default.

Post: Got cash and credit - now what?

Matt MathewsPosted
  • Real Estate Consultant
  • yucaipa, CA
  • Posts 233
  • Votes 109

With cash on hand and excellent credit, I would be looking for a Class A or B multi-family apartment building. Many owners right now are in a distressed situation. (not foreclosure). and are looking for a way out soon. Negotiating a FSBO with seller financing and/or a Master L/O is a strategy that works quite well.

Post: Commerical Short Sales?

Matt MathewsPosted
  • Real Estate Consultant
  • yucaipa, CA
  • Posts 233
  • Votes 109

First of all you need to determine what type of commercial prop. you are interested in. Why? Because the learning curve is quite different when you talk about a 6 unit apartment complex vs a office building, or retail store etc. Pick one first. Since you have been doing single family homes, you may want to move into Small to mid size apartments. An excellent educ.site/mentor is Investortours.com. The company is located in TX. Your neck of the woods. Great info and Educ.

Post: Rate Decision for Buy and Hold

Matt MathewsPosted
  • Real Estate Consultant
  • yucaipa, CA
  • Posts 233
  • Votes 109

Since your hold period and cash flow need is undetermined. the 10yr fixed rate is best. Over time you can always pay down the principle to increase the cash flow and shorten the payoff time. Just be careful not to over leverage the property.