All Forum Posts by: Matt Bell

What are your assumptions on mortgage length and terms?  After 4 or 10 properties, you will likely have to switch to commercial or portfolio loans.

Thanks to everyone who came out tonight.  I enjoyed meeting people and learning about your projects and your strategies.  Always happy to chat, provide advice, or network and help however I can.

See everyone who can make it on Saturday around 5pm at 1038 Woodley Road in Montgomery.

Sounds like we have some interest as I also received several private messages.  Let's meet at 1038 Woodley Road on June 11 at 5:00PM. You may need to park across the street depending on how many people show up.

Hi Montgomery Folks!

I will be in Montgomery on June 11 to check on our second flip property in Cloverdale.  Would anyone be interested in meeting up at the property to network, do a walk through and I can explain what we did to the house and share some before pictures, and perhaps just share some pizza from Tomatino's or something?

If there is interest, let me know and I will send out the address and an exact time for the meeting.

Matt

I invest remotely in Montgomery, AL and have had a difficult time finding good wholesalers in the area.  I am considering recruiting a couple people to start driving for dollars, developing lists of properties that looked distressed, and helping set up their marketing campaign to target these owners.  In exchange, I would get a right of first refusal on any deals they find.  What do you all think of this approach?  

In full disclosure, I have never been a wholesaler who not sure I am the right person to teach someone but I would like to get some boots on the ground helping me find good deals to feed my flipping and BRRR strategies.

@sy 

@Sy Mularz  There is definitely some profit to be made.  This home was in Bellwood - 6325 Old Pond Road.  We have a second flip going on at the moment in Cloverdale.  Send me a message with your contact info and maybe we can see if you can help on a project.

@Mike Quin

We mostly target Dalraida, Woodmere, Taylor Crossing, Bellwood, Capital Heights, and Eastmont areas.  I notice your title says multi-family investor, we are starting to look at small multifamily deals (4 to 12 untis) in Montgomery.  Let me know if you are interested in working together on any multifamily deals in Alabama.

Great summary.  Thanks for sharing.  I have been considering looking at TK providers in different parts of the country as I tend to move around a lot for my work.

@Karen O. @Tyler Bernhard @Michael Noto  @Toxey McDavid  @Dmitriy Fomichenko @Christy Harris 

Thanks for all the comments and feedback.

Christy - My wife is acting as our interior designer and she deserves a lot of credit for picking out colors and materials that were great choices and didn't break the budget!

Toxey - Long distance was a bit nerve racking but with modern technology, we hope the second flip will go smoother.  We will have regularly scheduled walk-throughs via video chat to see the progress and we are giving our handyman some of the work in exchange for him acting as our boots on the ground with the contractor.  The handyman handles all our rental rehabs (currently have 5 rentals and a #6 under rehab).

@Jay Hinrichs - You are absolutely right about the financing deal we currently have in place. We have 5 rental properties financed with this bank after using the BRRR strategy made famous by @Brandon Turner.  Additionally, they have provided us with an unsecured line of credit that allows us to fund the rehabs (interest only payments included in holding costs).  We are very luck to have found that relationship - especially as out of state investors.  Like all things in real estate, it is about relationships - a referral to our banker through a mutual acquaintance made this all possible.