All Forum Posts by: Matt Cecil

@Matt Higgins Thank you

@Jack Orthman - Thank you. I really like the commercial route. That’s where I see my journey going.

@Theresa Harris - Thank you for the reply. I agree it’s a lot but it also doesn’t buy much depending on the area.

@Matt Higgins

I’m working with a partner so I’m hoping that funding won’t be an issue at first but I do see how it could work against me. Depending on the route I focus on, I was planning on recycling my $150k in some way.

I appreciate the advice, I’ve done a few house hacks so I’m comfortable with flipping for the transactions.

Do you have any lenders that you would recommended for my situation? Lack of W2, lump of cash, and some experience flipping?

@Jody Sperling

I’ll definitely look into that banking strategy. I’m not very familiar with it, so thank you for the recommendation. I agree with the house hack idea for 2-4units, I think it’s a great strategy.

Hi All!

I’ll keep the details to a minimum (unimportant) and give you the meat of my situation. I quit my job to pursue real estate and another opportunity. We just sold our house and have very little debt (only student loan) and are living with family.

- We have roughly $150k in the bank

- only student loan debt

- currently 2 sfh investment properties

Where would you start or go from here next?

I searched BP and didn’t seem to find anyone in my similar situation. I’m looking to get as much information as I can before I commit to a path. I always thought if I had the opportunity to start over I’d know what to do. Well now that I’m in that situation, I’m a little apprehensive and want to make sure my next steps are the right one.

Thanks in advance!

@Mason Hjelmeland

Nice to meet you and good luck! I’m a newer investor as well working on networking. Feel free to reach out with any questions or to bounce ideas back and fourth.

@John Woodrich

I appreciate the feedback and you make a great point about connecting with my accountant. I’ll put that on the list!

After reaching out to some people, I heard good things about faith based non profit healthcare. Otherwise, MNsure seemed pretty straight forward after speaking with a representative(I’m sure it’ll end up being anything but that lol). I used their estimator so I have an idea of possible cost and coverage.

Thanks again John!

Hi All,

We are considering the move away from W2 and were looking for some advice on this transition. Curious what others decided on for their health coverage and any hurdles (pre & post) they may of went through to get it?

Thanks!

Matt

@Luciano A.

Good idea! I’ll look into LoopNet. Thanks for the feedback.

Hi everyone!

I’m looking into purchasing a portfolio mixed with sfh and commercial properties. This portfolio is located in Southwest MN and I’m looking for some help with finding the cap rate. I haven’t had much luck with my search. I was hoping to compare the value I come up with, to the asking price.

Also, would the sfh-4 plex’s in the portfolio be left out of that cap rate valuation, then add on their appraisals to that number?

Thanks in advance!

We closed on our property July 10th and leased to non college renters on July 15th. This was a college house for the last 10 years and in the month prior to closing, we showed or had interest from non college students. The university was still moving forward with classes on campus at that point. If you are struggling to find college students, I’d consider opening up your options.

To help with expense maybe reduce the utilities you are covering and maybe consider PM the property yourself? There are free platforms out there that help with screening and listing your rental. If it’s too far away to show the property, ask your PM or local agent.

You’ll have to run the numbers yourself, but it might be better to take a few hundred dollar loss each month vs being vacant for a couple months.