All Forum Posts by: Matt Hanson

I live in an area where there are a lot of new jobs being created and very few places for the new work force to live. How do I maximize the opportunity I am witnessing?

@Jim Paulson I like the tip about the airport. Thankyou for your advice

I am a painter in the Upper Peninsula of Michigan. I’m looking to move somewhere that is on the ups. Somewhere where I’d be able to make some money and enjoy living. Suggestions needed.

Literally buy like 50 houses to rent out in my area to start out.

I watch a little YouTube every now and then.  Grant Cardone is a guy I watch because of his confidence, I guess.  Some of the stuff he talks about is useful to a point and the majority of it I feel like he is trying to sell me stuff.  I'm new to BP and just trying to get some discussions going.  Let me know your thoughts people.

thank you @Steven Segal and @Dmitriy Fomichenko!

Hey, alright folks.  My name is Matt Hanson and I found out about Bigger Pockets on YouTube.  I am currently on episode 35 of the podcast with Paula Pant and figured I should probably jump on this bad boy and see what happens.  I bought my first investment property when I was 22 and am currently 24.  I remodeled the downstairs of the duplex myself and am currently working on the upstairs (remodeling takes much longer with a full-time job and when you do it yourself than I thought.)  I really love the idea of all of this and put in a 10-year plan last year to become financially free by the time I'm, you guessed it, 33.  My duplex has come a long way on the interior which I will continue to chip away at.  My goal is to be completely finished by the end of summer and move out and get an apartment in Green Bay, WI.

As far as my future goals are I'm stuck between going to school for architecture or continuing what I'm doing with painting and carpentry.  Eventually I would like to do real estate stuff full-time but, of course, I need an income.  

Currently I live in an area where the primary employer is a ship building yard that President Trump just visited last week.  Everything was nationally televised and my buddy actually got to give a speech.  That was cool!  Anyways, the U.S. Military gave this ship yard $9billion and that is going to bring many jobs into the area.  My ideas for now are to buy up property around here that should be remodeled but are still livable and rent them out.  I just do not have the capital to buy and remodel everything at the moment.

In the future I would like to do higher end stuff and maybe add a mixture of investing and architecture into my properties whether that means developing or doing what Will Barnard does with buying high-end shells and revamping the insides.  He had a cool podcast if you haven't heard it (show 32.)

I don't want to go on and on so that's it for now.  Thanks guys

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $31,000
Cash invested: $6,000

Duplex, I live in one half and am still working on upstairs. I am totally redoing the upstairs and it is taking much longer than I thought.

What made you interested in investing in this type of deal?

Living for free and moving out of my parents house

How did you find this deal and how did you negotiate it?

zillow and I just gave them what they wanted

How did you finance this deal?

straight cash homie

How did you add value to the deal?

remodeled downstairs and currently remodeling upstairs

What was the outcome?

I live here and still working

Lessons learned? Challenges?

remodeling alone takes much longer when you work full time and can only work on the place on weekends

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Mike Nowack