All Forum Posts by: Matt H.

@Nat Chan there is bunch of 1031 guys on here who would know best. But yes, your CPA is wrong. It just needs to be an investment, rent is just one way to pass that test.

Three of my banks have offered this to me. It's prohibitively expensive in my opinion. So I just have a lot of accounts with all the problems that goes with that. But they give me a dedicated guy and it doesn't cost anything other than making 0% on a bunch of money.

@Simon Hernandez that’s double market. And I would get a 5/1, it’s the right product for our investments. I just locked a 3.87% 7/1 no cost no balloon. Chase.

@Jay Hinrichs Irvine Co easily has highest market value. They have lots of complexes at 1M/door+ and I bet their average is over 400k/door. And that is just saying their resi market cap is top that list, add in their commercial holdings and I don't think anyone has more. Don has done real well for himself, he owns absolutely everything around here.

@Erin Onsager sounds to me like you are doing pretty darn good. The first couple are just the harder and it is a grind. But then at some moment, as others have pointed out, it gets easier. Whether you continue on solo, partner, or raise, you will get there. Keep on keeping on. It took me years to get to 30 units. But somehow this year we’ve already added 150.

@Dave Saveri The most each bank will give you unsecured generally is 100k. And if you say you want to do anything you actually listed there it is a no to that LOC. If you have a business the General of thumb is they will give you a line 10% of annual gross receipts. But most all of them once you open it after a year or two of good behavior they will raise it.

@Ted Baker 100% Buy a 3 or 4 unit owner occupied, live in 1 and rent out the others. This sets you on the right path. Even if you went to be passive eventually you have to understand how to do it yourself. And you can’t get better leverage or terms than the owner occupied. Fastest way to financial freedom and only really possible earlier in your career.

@Matthew Shay Lender was/is Chase CTL. 5 year fixed at 3.11%-4.20% is what we have for loans originated over the last 3 years. 5 year IO, 30 year final. Pre pay 5-4-3-2-1. Chase retention after 2 meaning they'll waive pre pay if you refi with them or trade with them. No cost. Loans 1M and up.

@Jeremy England Sure the government and lots of banks will put limits. But that doesn’t mean you can’t find a way to get more. I have about 40 residential loans in my name and can get as many as I want. All with outstanding terms. Sure I had to work to get there but it is doable. So not to worry, you’ll find a way.

@Paul Sicotte Oh hell no.

That is the same as burning your money in a trash can.

There is no free lunch. Do some research and invest that 20k actively or passively.

Matt