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All Forum Posts by: Matthew Meikle

Matthew Meikle has started 6 posts and replied 73 times.

Post: Newbie Interested in Wholsale and House Hacking

Matthew MeiklePosted
  • Realtor
  • Jacksonville, FL
  • Posts 76
  • Votes 42

@Devin Waugh One more thing. The upper limits to FHA loan amounts are based on location. $726,525 is your limit in Seattle. Before you go traipsing across the country, see if you can make it work closer to home. You may be surprised by what you find.

Post: Newbie Interested in Wholsale and House Hacking

Matthew MeiklePosted
  • Realtor
  • Jacksonville, FL
  • Posts 76
  • Votes 42

@Devin Waugh Narrow down the areas you want to focus on and find an agent for each locale. Make sure that agent has been involved in plexes by narrowing your search to multifamily sold listings on zillow. I look for the one in that area who has sold the most. Contact them and have them set you up for alerts. A local MLS will often see listings up to 48 hours early. This will give you an edge for speed when you want to lock something up into contract right away. Also be clear on exactly what you want so when they send you leads they will be more actionable. Give them tons of feedback and actually follow through with researching any specific properties they send you. Treat their leads like gold, even if they aren't always, so they keep bringing them.

Oh, and also keep an eye on www.homepath.com

They have "first look" listings that are for owner occupiers only. 

Post: Tenant leaves front door open

Matthew MeiklePosted
  • Realtor
  • Jacksonville, FL
  • Posts 76
  • Votes 42

It sounds like you need that court order. The professionals aren't going to take this case on without one. If it were me, I would bite the bullet and hire an eviction attorney immediately. Once you add up the lost rents, damages, and increased liabilities this tenant brings you're better off starting proceedings now.

Another option? Sell it. Now he's someone else's problem. Not ideal, but I imagine this situation must drive you bonkers. Something to think about.

Best of luck!

Matthew Meikle

Post: Best way to know the local real estate market.

Matthew MeiklePosted
  • Realtor
  • Jacksonville, FL
  • Posts 76
  • Votes 42

@Sam Pant

Go to local meetups. I found this thread that will be relevant to you. Check it out.

https://www.biggerpockets.com/...

Good luck!

Matthew Meikle

Post: Newbie Interested in Wholsale and House Hacking

Matthew MeiklePosted
  • Realtor
  • Jacksonville, FL
  • Posts 76
  • Votes 42

@Devin Waugh

4 Plex + FHA owner occupied loan + FHA 203k rehab loan + ????? = PROFIT

Good luck!

Post: Florida Investing and Ocala Condo Search

Matthew MeiklePosted
  • Realtor
  • Jacksonville, FL
  • Posts 76
  • Votes 42

Hey BPers.

I'll be flying into Gainsville, FL in a couple weeks to find my mother a nice 2/2 ground floor condo somewhere near silver springs shores in Ocala. I'm specifically reaching out to see if any of you have some pocket deals to show me in the area. I'm willing to put a little rehab into it, if necessary.

Also, why have you guys been hiding all this good stuff from me down there? The price to rent ratio is fantastic. I think I might move out there myself. If anyone has pros and cons of investing/living in Florida, please feel free to share.

Much appreciated,

Matthew Meikle

Post: Buying an investment property and refinacing question

Matthew MeiklePosted
  • Realtor
  • Jacksonville, FL
  • Posts 76
  • Votes 42

@Todd Fite The issue you are dealing with is the "title seasoning" period imposed when doing conventional loans. Typically commercial loans have no such period. Have you considered that path?

Post: Transfer Title or Purchase As LLC?

Matthew MeiklePosted
  • Realtor
  • Jacksonville, FL
  • Posts 76
  • Votes 42
Much appreciated folks. I had a feeling that was the case.

Post: Newbie figuring out best way to finance a flip

Matthew MeiklePosted
  • Realtor
  • Jacksonville, FL
  • Posts 76
  • Votes 42

Could you rent out your main house for cashflow and then get a FHA + 203k to house hack a 4plex?

Post: Transfer Title or Purchase As LLC?

Matthew MeiklePosted
  • Realtor
  • Jacksonville, FL
  • Posts 76
  • Votes 42

Hey all. I'm making plans for my first purchase of a plex for cash and was hoping I could get some advice. It's going to be a buy and hold rental. I would like to place the property into an LLC. I plan to do this for each property individually that I buy in the future. (Example: 123 Main St, LLC) My question is, do I need to have the LLC established prior to purchase and make the purchase in it's name or can I later transfer from my possession into the LLC after closing?

I know I should seek professional advice tailored to my personal situation and location, but any point in the right direction would be greatly appreciated.

Thank you kindly.

Matthew Meikle