All Forum Posts by: Eric Martin

@Greg Parker Thank you Greg!

Hey Michael,

I am an investor and wholesaler operating in Montgomery. I'd be happy to connect when you're in town to tell you more about the market and learn more about your investing goals. Hope to talk soon!

Hi Ruben, I am local to Montgomery, AL. We are finding several brick ranches between $40,000-$60,000 that rent for $600-$850+. I would love to tell you more about the market and find out what specifically you are looking for and how I can help. I just sent a PM. Look forward to connecting!

Hi Andrew, There are a lot of considerations when selecting a new market to invest in (population trends, local economy & job market, cash flow, appreciation, etc). I have found the Montgomery Alabama market to be great if you are looking for cash flow. I can connect you with the core 4 (agent/deal finder, property manager, lender, & contractor) if you are interested in learning more.

Best of luck!

Hi Liza, I am an investor in Montgomery, AL. Have you considered investing in that market?

Awesome work, Matt! House hacking is one of the best ways to jump in and get started investing in real estate. I agree that it is possible to find a deal that doesn't need much work, but you will need to be patient for the right opportunity like you were on this house hack. I enjoyed learning about how this deal positively impacted you in several ways... From increasing your savings rate, establishing new personal and professional relationships, and gaining first-hand experience to better understand and serve your clients. This is a great inspiration as I am looking to do my first hack in Auburn this upcoming year. Best of luck with your future endeavors!

Yes, this property is held in an LLC and was a requirement for the type of loan we did. We refinanced 2 houses during this process but decided to sign two separate mortgages, instead of lumping them together under one loan. The main reason being that if my business partner and I ever wanted to sell one house, it would be easier to obtain payoff information. With multiple properties under one mortgage, the lender would have to calculate a partial release which can take a little longer.

@Moises R Cosme Thank you! I am currently wrapping up another BRRRR project around the corner from this one. I am also excited to be closing on two 4-plexes tomorrow!

@Alex Olson Thank you! I am wrapping up another BRRRR project right around the corner. That one should be listed for rent soon. I am also closing on two 4-plexes tomorrow!

The lender did not require a seasoning period so I was able to refinance as soon as the rehab was complete. I believe the 6-month seasoning only applies if the bank intends to sell the loan. But since it is a "portfolio loan", meaning the bank is keeping the mortgage on their books, they don't have to require a seasoning period. I'm not 100% sure about that answer but that's my best guess. Hope that helps!