All Forum Posts by: Matthew Mickler

Did you ever end up getting a Rental in Augusta ? I have been looking in the area for my first property. I live in AZ so this would be a long distance investment. I am lucky that my brother is stationed at FT Gordon so will be able to go to look at properties and give honest trust worthy information regarding the surrounding area. Any information on if you moved forward?

I live and invest in the market. Are you looking for something turn key or a rehab project?

I am open to both

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Quote from @Peter Mckernan:

Quote from @Matthew Mickler:

So I have a solid deal available fully renovated property, seller willing to take close to 20k less than what it appraised at which would mean instant equity. Here is the issue I am unable to get a traditional loan as of yet and would like to use OPM instead. I have looked at creative options but the seller wants to cash out. Other than a HML or PML what options do i have? This would be my first deal and I really want to make it work. numbers work for both STR and Mid-term. It is in a developing area so will go up in value with military training base close by. Hospital's as well as 2 big golfing events each year.

DSCR loan with a partner. I would go to the boards on BP in your area see if anyone is looking, post this to the deal board on BP to see if anyone is willing to partner, or look at Meetup.com for local chapter meetings for REI meetups. This would give you access to people that are looking good for deals and also would give you someone with an investor mindset that has partnered before. The next order of business is to hire a business/contract attorney to draft the contract between you and the partner.

Give the partner a better piece and bigger piece of the deal to make it happen for you since they are taking more risk. Do more deals with them, or with other partners and take that piece to your side. The more knowledge and ability to bring great deals gives you the base to get more of an equity stake.

What BP boards? This is a LDI so don't think my local investors would be interested.

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Quote from @Dwayne Ghant:

Quote from @Matthew Mickler:

If I were you, and I wasn't able to get the funding (private, commercial, or conventional) I would seriously consider wholesaling the deal. If you wholesale it, you already know that you minimally make 20k!! If you play your cards right, by finding the right buyer, you could make approximately ~50k, or more. Take that ~50k and use it as downpayment on another property. Not bad for your first deal.

Market value is 255k and I could get it for 235k I thought people wanted more room from market value to do wholesale?

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@Joshua Janus funny enough I just watched your interview yesterday. Your doing some great things and would love to jump on a call sometime if you have availability.

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Quote from @Joshua Janus:

Quote from @Matthew Mickler:

Hi My name is Matthew I have been in IT for 14 years as a Project Manager. I have been looking into REI for last 6 years and finally I am in a position to be able to act. I currently live in Arizona unfortunately the market here is far to hot. So i am looking to invest in my first property in Augusta GA/SC Outside of Charleston SC and outside of Charlotte NC. I plan to use the long distance investing strategy and manage everything as i would as a PM.

I am interested in connecting and networking with those who are currently in those markets. As well as speaking with anyone willing to share some experience.

I would advise finding an investor friendly realtor when you choose a market. You really want someone that invests in their market themselves and understands the numbers. They should be able to determine the COC, annualized return, estimated ARV of a BRRRR, accurate rent comps and more. The valuation and market value of a multi family property differs from a single family and you want someone that understands the distinctions if you go that route. If they just represent first time single family home buyers and aren't constantly finding off market properties and reviewing deals, you'll find a better investment through someone else.

https://www.kiavi.com/blog/out-of-state-real-estate-investing

https://learn.roofstock.com/blog/out-of-state-real-estate-investing

I choose to invest in Cleveland and Columbus, Ohio. Cleveland is ideal for lower priced multi family properties with soaring cash flow. Columbus is a top five appreciating city in the US with an unexpected mix of cash flow which is backed up by a population and job growth. Breaking the One Percent Rule isn’t uncommon in either of these areas and can be applied as a baseline in situations where immense appreciation isn’t expected in B-C class neighborhoods. Whatever market you choose to put your money in, spend the time to learn it.

Thank you for this advice and I definitely agree in finding a realtor that is currently investing there as well. When someone invests they know the specifics better.

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I am currently looking for properties in Augusta market. I would love to network with others in the area and look at building a team. I am lucky enough that my brother is stationed there so he will be able to look at properties for me as i will be investing long distance.

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I am interested in connecting and networking with those who are currently in those markets. As well as speaking with anyone willing to share some experience.

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I am interested in connecting and networking with those who are currently in those markets. As well as speaking with anyone willing to share some experience.

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Tucson, Arizona

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All Forum Posts by: Matthew Mickler

Matthew Mickler has started 3 posts and replied 10 times.

Post: Investing in Augusta, Georgia

Post: A Deal in hand but How to Fund?

Post: A Deal in hand but How to Fund?

Post: A Deal in hand but How to Fund?

Post: INTRO into Long Distance Investing

Post: INTRO into Long Distance Investing

Post: Houses seating on MLS

Post: INTRO into Long Distance Investing

Post: Doing an intro & want to network as I look for my first property Long Distance Invest

Post: Investing in Augusta, Georgia