All Forum Posts by: Matt Gallacher

Is anyone else struggling with the fact it's 6 days away from the original tax filling deadline and we still haven't seen K1's?  Or have you seen yours?

@Bruce Coleman

Thanks for the update. That's disappointing to hear. Hopefully they step it up soon. That kind of oversight doesn't foster a lot of confidence.

@Bruce Coleman,

Did you ever get your K-1 from them?

 @Andy Mirza

Andy, do you have examples of note funds that do not require you to be an accredited investor?  The only two funds (even if not technically notes) are Fundrise and AHP.  Any others?

@Laurence Smucker @Justin Windham @Linda Ray

Thank you all so much for the warm welcome.  

And Justin - those are great tips!  Very appreciated!  

@Carl Fischer

Great and helpful tips, thanks Carl!

@Amy Kendall

Thank you Amy!  That's good to hear.  I'll keep at it but I've heard from many folks that it is tough going right now.  My priority is multi family, but if I saw a killer deal on single family, I wouldn't pass it up.  I walked a single family a bit ago thinking it would be a good flip opportunity but the math didn't work.  

Thanks for saying hi and we'll see you around.

@Tahra Wright

Thank you so much!

Hi BP,

I know self directed IRA's are a popular option for those looking to use retirement funds to invest in real estate. There are very few providers who are local and the one I did find I found to be rather expensive (at least compared to what I expected). They charge $1000/year until you reach $170K and then their fee is 60 basis points of your balance.

I figure it would be good to at least check out two other providers and thought this site would be great for recommendations. Thanks in advance for your help!

Matt

Hello all,

My name is Matt Gallacher and have lived in the Salt Lake valley my entire life until 2 years ago when we hopped the mountain range and settled in Grantsville.  When I grew up I had pastures in my back yard and since those days in Salt Lake County are over, we ran to Tooele County to enjoy the quiet there until the sprawl makes it out this way (I'm a small town guy at heart).  During the day I'm a financial analyst for USANA Health Sciences and I enjoy my job there.

I had a college professor who was a huge success in real estate and he opened my mind to not only real estate, but just having an investor mentality.  Up until last year I had a Ramsey/saver view on things but didn't do things like make sure that I was getting the best return I could on my money.  

During the last 5 months I've been listening to real estate podcasts morning/night and have become hooked.  Rod Khleif, Tyler Sheff, Grant Cardone, and of course, Bigger Pockets to name a few.  I finally made the jump to come introduce myself on the forums.  

I consider myself very much a newbie and am eager to learn and get to know other investors.  I'm hoping to pick up a rental property soon and have been working with a broker to try and find one.  I'm amazed at how expensive these are in SLC relative to their income.  My CPA told me that he believes most investors don't even hope for cash flow within 5 years and just invest for equity growth which just seems insane to me.  So I've very interested to know how people make a go of it in this market.  

Anyway, I'm looking forward to learning from and with you all and hope we can connect. I plan on attending my first REIA meeting this month. Say hi if you are there!

Matt