All Forum Posts by: Matthew Knouse

Congratulations James!  Awesome first deal!  Looking forward to hearing about more...

So current rent when I purchased was $850/mo.  Tenant pays all electric/gas and I pay water/sewer/trash.  I am using a property management company and I wanted to bill back the water/sewer.  So the month to month rent now is $800 and tenant pays electric/gas/water/sewer.  I am on the hook for trash at $33/mo.  I'm all in for $31,409.  

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $29,000
Cash invested: $31,000

Bought without financing with a long-term tenant in place. The property needs some extensive work I plan to do when/if the tenant vacates.

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

Low price with long-term tenant in place.

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

Found on the MLS. Negotiated price with a cash buy.

How did you finance this deal?

Cash

What was the outcome?

Purchased in March 2019

Lessons learned? Challenges?

Had some delays due to the title company switching owners.

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

Connie Kennedy at Iron Valley Real Estate.

BP:

Happy Wednesday BP! So much information on the forums. Super excited newbie here. Finished reading two books and now started Richest Man in Babylon. Went to my first REIA meetup in Harrisburg. Looking forward to networking and expanding my contacts.

v/r

Matthew

Welcome! I have no investments currently but glad to see you jumping right in. 

Thanks

Kyle have you had any luck with property managers as of late?  Who do you use/recommend now?

Hello Team BP!

My name is Matthew and I am currently a newbie looking to start REI. I am located in the Hershey / Harrisburg, Pennsylvania area. I have zero experience. I currently am full time military. Certainly glad to be here and looking forward to learning and working hard to succeed.

v/r

Matthew Knouse

Thank you David!

Team BP:

Anyone have a referral for a CPA/Tax Adviser in and around the Hershey/Harrisburg area?  Google and Yelp are not always complete on their reviews.  Thanks in advance for your time.

Matthew