All Forum Posts by: Matthew Chalfant

I am looking for a home insurance broker that services homes in the Goose Creek area for a single family home. 

Does anyone here house hack? I haven't seen a lot of small multifamily in the area. I wonder if it is all already owned and just passes hands between people in the know. 

Copperas Cove is an awesome area. I know that area is going to pop here in the next 10 years. Sounds like you did some awesome work here. 

I hear almost nothing about this in the forum or on podcasts. How do you all set up your banking systems? Do you have banks you like to work with? Do business accounts make sense? Why or why not? Do some of you get credit cards in the name of your LLC's? Do you all like big names or local banks? Are there any neat discounts you get by having large sums of money at these banks? I feel like banking is such a foundational thing and it is not discussed.

I appreciate the shrewdness of this comment. Yes I am in business. However, I am already $810 in the black. Also, according to the accounting that I learned called GAAP, you cannot count assets that you do not have ownership over or a contract stating when you will receive payment. If I had a contract for the expected rent it would be under the accounts receivable column.   

Also, I am in a position to reward good people for being good and create margin in their life for them to potentially create more with. I as a Christian think there is an intersection between being profitable and care for our fellow man. This is how we make the case for free markets and prove communism wrong.   

Rent price increase question. I currently own a duplex with both sides rented. The A-side is renting for 1050 a month and the B side for 1350. The first tenant was there when I lived in the property in 2019. I kept the rent low for an additional year because they were good tenants who paid the whole time through 2020 and have only been late twice and paid quickly. The lease is almost up and the PM thinks we can get 1300 for it. I have mixed feelings about raising the rent by 250 on someone especially when inflation is hurting blue-collar people more than any other. I am currently cash-flowing 810 a month and I would feel greedy raising it by 250. They are good tenants and I think that deserves to be rewarded. What are your thoughts?

Rent price increase question. I currently own a duplex with both sides rented. The A-side is renting for 1050 a month and the B side for 1350. The first tenant was there when I lived in the property in 2019. I kept the rent low for an additional year because they were good tenants who paid the whole time through 2020 and have only been late twice and paid quickly. The lease is almost up and the PM thinks we can get 1300 for it. I have mixed feelings about raising the rent by 250 on someone especially when inflation is hurting blue-collar people more than any other. I am currently cash-flowing 810 a month and I would feel greedy raising it by 250. They are good tenants and I think that deserves to be rewarded. What are your thoughts?

This seems odd to me because REIT investing is actually investing unlike flipping. The main reason I am looking into this is because I am going to be moving overseas and I still want to invest while I am gone. The idea is that I would put a sum of money into a private REIT and contribute some of the revenue from my other rental property every month. Ideally this would grow and eventually give off enough cash flow to buy more when I get back to the states.

I know the podcasts have mentioned REITs before and that some private REITs have sponsored the show. However, no one, to my knowledge, has mentioned a book on REIT investing. This is unusual for BP. I read an article by Motley Fool on these books and I am sure they are decent (link below). I typically like to ask BP because the people here are more savvy than the average person.

What I am looking for is a book that explains the basics of REITs: what they are and are not, how they are structured, what types of laws they follow, differences between private and public, strategies, types of properties they own. 

https://www.millionacres.com/r...

When paying taxes on SMF in Texas is there anything special you need to know or do? I own a duplex in Killeen and have a VA loan on it with the escrow in good shape. Is there anything else beyond this to be concerned with?