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All Forum Posts by: Matthew Banks

Matthew Banks has started 6 posts and replied 20 times.

Post: Multi Family Investing Newbie

Matthew BanksPosted
  • Rental Property Investor
  • Glencoe, AL
  • Posts 20
  • Votes 4

@Andrew Carlson I’ll be sure to check into those. Thank you Andrew!

Post: Multi Family Investing Newbie

Matthew BanksPosted
  • Rental Property Investor
  • Glencoe, AL
  • Posts 20
  • Votes 4

@Marlen Weber thank you for the advice Marlen. I appreciate it!

Post: Multi Family Investing Newbie

Matthew BanksPosted
  • Rental Property Investor
  • Glencoe, AL
  • Posts 20
  • Votes 4

@Bjorn Ahlblad okay. Every time I Hear or see Underwriting, my mind goes to loans or insurance. But I love the BP calculators. I am in the process of educating my self and learning multi family enough without getting caught up in analysis paralysis so I can pull the trigger on a deal. But thank you for clarifying that for me Bjorn.

Post: Multi Family Investing Newbie

Matthew BanksPosted
  • Rental Property Investor
  • Glencoe, AL
  • Posts 20
  • Votes 4

@Greg Dickerson yes, Nathan seems very knowledgeable on multi family investing. Also I got your message. Thank you so much for the content!

Post: Multi Family Investing Newbie

Matthew BanksPosted
  • Rental Property Investor
  • Glencoe, AL
  • Posts 20
  • Votes 4

@Bjorn Ahlblad Hey Bjorn. I am still learning some of the lingo and some of the nuances that come with multi family. When you say underwrite. In what capacity are you speaking of?

Post: Multi Family Investing Newbie

Matthew BanksPosted
  • Rental Property Investor
  • Glencoe, AL
  • Posts 20
  • Votes 4

@Caleb Brown thank you for the reply Caleb. As of now my end goal is to acquire enough multi family units and create enough equity in every deal to eventually sale them all off and use a 1031 exchange to put entire down payment towards an apartment complex. By then I intend to have created 10-15k in cash flow and 1 million in equity. I considered the house hack on my first duplex or quad, the issue with that strategy is me and my wife already own a home. 

Post: Multi Family Investing Newbie

Matthew BanksPosted
  • Rental Property Investor
  • Glencoe, AL
  • Posts 20
  • Votes 4

Hello BP Family. I'm a Newbie REI and I finally decided which niche I would pursue and focus on investing in. I came to the decision after reading Brandon Turners 7 years to 7 figure wealth while investing in multi family and also after listening to Nathan Tabor on the BiggerPockets podcast. I wanted to post this to a forum to see if there were any other REI who wouldn't mind giving me some tips and advice about investing in multi family. Thank you

Post: New Member Introduction

Matthew BanksPosted
  • Rental Property Investor
  • Glencoe, AL
  • Posts 20
  • Votes 4
Originally posted by @Jody Schnurrenberger:

Welcome, @Matthew Banks!  What area are you looking into and what is your plan?

WAR EAGLE!  :-D

Right now I'm focusing on my county and not doing and long distance investing. I'm undecided because I'm going back and forth between focusing on multi family because of the potential Better cash flow but also on SFH; criteria 2-1/3-2 but being careful on not taking on too big of a mortgage.

Post: New Member Introduction

Matthew BanksPosted
  • Rental Property Investor
  • Glencoe, AL
  • Posts 20
  • Votes 4

Hello BiggerPockets Family. I am a NEWBIE REI out in Glencoe, Al. I'm 27 years old, married with one crazy boy. He is 19 months old. I enjoy Auburn football, NBA and working out. I am looking to invest in SFH and to purchase my first rental this year. I attended the 90 Day challenge webinar 1/29/20 and it has motivated me to make it happen. I'm looking forward to connecting with you all and hopefully many of you can offer advice along the way. Thank you for taking the time to view this post

Post: Property Management Interview

Matthew BanksPosted
  • Rental Property Investor
  • Glencoe, AL
  • Posts 20
  • Votes 4

Hey BiggerPockets Family. This is actually my first post/question. I’m new to investing but I know I’m not interesting in being a hands on active landlord. I’m looking at delegating as many tasks as possible to a property management company. What are some good interview questions I should focus on when looking for the right PM company and what are some things any of you wished you would’ve asked the PM company you have used? Thank you for any feedback