All Forum Posts by: Matt Buchalski

Thanks @Brian Ploszay! She's actually on section 8 and has been with me for over 2 years already. Agreed on consulting lawyer & attorney. Anything else you think I should consider?

Hey everyone, 

A tenant in one of my properties wants to open a daycare in a rental i own in Garland, TX. Has anyone ever done this? What do I need to protect myself from liability? I assume I should make her incorporate and take out insurance but also think I should have some sort of hold harmless agreement in place, just in case. Anything else I should be considering? 

Thank you,
Matt 

Thank you @Mark Allen & @John Jacobus I will reach out to them today 

Hello, I'm looking to quickly shift gears from SFRs to MFs and have my eye on a deal right now. Can someone point me to a reliable and trustworthy commercial lender, preferably local to DFW? Thank you, Matt

Hi everyone,

I'm a buy and hold investor and I've done 2 deals this year (plus primary residence, so 3 total conventional mortgages). I have solid credit and the money to cover 25% DP for conventional financing plus my "make ready" on new deals. At my current income/rent roll levels, I can purchase a new deal about once a quarter. My strategy was to max out my conventional financing avenues then turn to portfolio lenders but I'm seeing some BRRRR opportunities lately that I would hard money to acquire & repair, then refi into conventional programs. My concern is about disrupting my current plan/deal pace, inquiries, DTI ratios, reserves, etc. Has anyone used hard money for BRRRRs then gone back to conventional financing successfully? Is this a legit concern or am I overthinking it?

Also - do conventional lenders take seller financed deals into DTI calculations? So if I use my primary account for a seller financing down payment (which a lender will see when I provide bank statements for an upcoming conventional deal) and clue them into the fact that I've done an off the credit report deal, will they take that mortgage/tax/insurance payment into the DTI calculation?

Thank you, 
Matt 

Hi David Hills , I'm an investor in McKinney, I see you're based in Arlington. I'd appreciate the chance to network with someone locally and get more info on blanket loan lenders. Invite & PM forthcoming. Thank you, Matt

Hi @Miles Stanley,

Getting off the fence and getting past the knot in your stomach when you are about to make an offer decision are the two hardest things to get past. Once you do that, ITS GAME ON!! Good luck! 

Cheers,
Matt 

Hi @Darren Eady,

Thanks for the note. Congrats on 50 properties in 2 years, WOW! I am open to working with you and Chris. Lets get networked here and get some dialogue going! 

Cheers,
Matt 

Hi @Cory Damon,

I am from NY originally so I still have realtor friends and family in the area. I trusted them to find a good deal, inspect & fund the deal. I flew up there to close and generate the rehab statement of work, then turned the rehab over to good friends that got the job done in 2 weeks. Luckily my realtor also helps find tenants, so he was working on finding me a good tenant before I even closed. My next step is to build a similar support structure here in DFW. My goal going forward is to buy properties in both areas since i live in McKinney but I am up in NY quarterly for business or to visit my family up there. 

Thanks for the note! I'm in Austin all the time, i love it down there! 

Cheers,
Matt 

Hi everyone,

Thanks to a lot of the great guidance from BP and the members I've met so far, I'm happy to say that I'm making big progress on my goals for this year. I closed on my first SFR rental in NY in late April. It was a 5 month process from offer to tenant placement, but my tenant signed and moved in last week. I'm also already in contract on a property in DFW (Garland) and should close before the end of this month. My goal is to go live with a tenant by August 1. After doing these two deals I've realized I want to shift gears a bit to find more equity in my future properties through rehab/forced appreciation so that will be an interesting shift, looking into REOs and working with wholesalers. I'm already looking for my next deals with a goal of doing (at least) two more deals this year. I'm also on the hunt for private money and potential partnership opportunities.

I've totally got "the bug" and am loving everything I do daily - reviewing deals, looking into properties/lenders/neighborhoods, and realizing that the better I do at my 9-5 the faster I can buy more properties.

Thank you BP!!