All Forum Posts by: Matt Gehrls

Thank you everybody. I don't plan on appreciation and don't expect it will appreciate much. I've done more analysis and the numbers actually look solid if I rented both units, and even when I don't I'm saving enough a month and building wealth. I agree that the market here shouldn't tank for a while. Even if I don't buy at exactly the right time, the numbers work for me today and I don't plan on selling it for quite a while.

Monthly rent from the other unit is 850. It should be higher in that neighborhood. I think I could get $950 for it next time around. PITI would be about $1000. I would plan on putting $400 away a month for cap ex and repairs to start, but it's pretty newly renovated so I expect that will build to a healthy cushion early and I could back off the repair budget (still doing a few hundred for cap ex) after 6 months. My rent right now is 800, that means I would save $250 a month just by living there now, with potential for $350/month savings once I get a new lease and even more if I can back off the repair budget, but even if those things don't happen. I'm saving more money and building equity.

There isn't a ton of inventory where I am. I want to house hack. Buy a multifamily do that whole thing. I've run the numbers on a duplex and they work. It's not fantastic, but I can save for cap ex and repairs every month while still paying a few hundred less than I am right now in rent.

Is it worth it? I can start building equity, and saving more money a month. If there were a 3 or 4 unit I would more likely be doing better than that, but there aren't any. Wait and find a better deal or start making progress today?

Thank you both. I think I'm settled on MG Homes. It's still personal but easier to remember. I agree with you, Asiyah, DJ party name is a pretty good way to specify why I didn't like it. That is not the impression I want to give.

I'm an agent, and I am re-branding to get a better website. My last name doesn't lend itself well to a website URL because no one cal spell or pronounce it, but I want my name to be a part of it because it will just be me. I have no intention of building a team. That in mind I thought for simplicity Matt G Realty might work, but I don't like it. I don't think it sounds important or serious enough.

What do you think? Am I overthinking this, or is it bad?

I agree with Andrew. You aren't wrong. It depends on what you want. Having fewer free and clear properties is definitely lower risk. If you don't want to build an empire and can live off the cash flow you are expecting why take the headache that more properties bring. You are much further along than I am, but I intend to do the same.

@Tim Vanden Toorn

I just contacted your staff. They answered the phone on my first try. You guys seem to be doing it right. Lance set me up and was really nice and helpful. We have a showing set up for Monday. Thank you so much for your help. You gained a fan today.

 Basically, if it is under $800 we are interested and ready to get going. Move in date in flexible. Ideally 1 bed and not studio, but if it is a two bedroom that fits that criteria that's fine. Ideally in Grand rapids or a little north, but still south of 96.

 Thanks Jake. Always appreciated. I'm reaching out now.

 We live here now with family, but we were in Chicago. How'd you solve your problem?