All Forum Posts by: Matthew Gilbert

@Mike Donnenwerth & @Jay Dewberry thank you guys very much for your input.  I think I may have over looked the total Vacancy rate. I have also been toying with the idea of getting into section 8 for this area.

My hope would be to have a very low CapEx and Repair ratebthe first couple of years after the rehab. Most of the major Mechanicals will be replaced or referbished in the rehab.

My thoughts were to cash out refi or streamline refi after the first year.

Thanks again for your well wishes...

If you were in this market and could get this deal, would you take this deal?

https://www.biggerpockets.com/calculators/shared/4...

Thanks for all the help in advance...

Welcome Nicholas,  I too am in the IT industry working in downtown Dallas and live in Haslet (just down the road from Keller). I know there are normal monthly meet ups for North Dallas and one in Mid-cities (Meets in HEB area).  If you search the meetup portion of the site you can find the next one.  I am also looking for small multifamily's that are great deals.  Let me know if you want to meet for coffee or lunch sometime.

Best of luck... 

@Soren Thomsen Congratulations on taking your first steps in real estate.   What parts of the Dallas area are you looking to invest?

There are many answers to your questions, but they all depend on you and your partners situation's.  You should take some time to search the BP site, read through the Ultimate bigginers guide, and if you want to do some creative deals the no/low money down book (I just finished it & it was great.

You said multifamily, but how many units/doors are you looking to start with?  You can go conventional for 4 & under.  You will have to go commercial or private money for anything over 4 units.  

With banks you normally have to put down 20%-30%, but there are many other ways to do it.  Commercial loans are normally maxed out at 20 years and a conventional loan maxed out at 30.

I wish you much luck in your journey,

Matthew

For anyone in Texas interested in getting their Real Estate Lic groupon is holding a deal.  This is the link I used and I am in no way shape or form associated with GroupOn or the training company.

https://www.groupon.com/deals/real-estate-express-...

Best of luck,

Matthew G.

I have been looking over investing for some time, waiting for the right time in life, but finding out there is never a perfect time to get started.