All Forum Posts by: Matthew Powell

@Harry Frazier Congrats again! Pumped for you. Wish you many more.

Hey @Rich Conley, congrats on getting close to a deal! I've partnered with a local real estate firm where they don't charge on the buyer's side but only on the seller's side. If there aren't many options like that, it isn't uncommon to negotiate a lower fee if you explain that you'll continue to use them for multiple deals.

@Harry Frazier big congrats to you! What were some steps in your process that led to your first wholesale deal?

Hey @Maria Amaro! All great thoughts. I wonder if this would also mean more seller financing! So instead of selling off that much at one time, will it incentivize more seller financing options at a 7-10% return for the owner.

Hey Alejandro! Hard Money Loans can be risky and costly, but a route to take if you don't have great credit. I would recommend partnering with an investor to help you navigate best practices for a HML and refinancing! Best of luck!

Hey @Frank Boenzi! I've heard of syndications doing deals by putting the down payment and financing the rest. There may be restrictions depending on your state, but I love that you're getting creative on your financing! 

Hey Mahmuda! It's not common to have the utilities under your name. Most property owners put that responsibility solely on the tenants. If you do tend to keep it this way, I wouldn't share your account number in the case that you have a rogue tenant.

Hey Chad! If the rent comps in your area allow you to increase your rent by adding some CapEx, go for it! However, if it puts you a lot higher than the comps then I'd keep evaluating. I have a rule of thumb of "Make your mom proud" of the place with your CapEx improvements, haha. Hope this helps!

@Hratch Avedissian

My gut would say invest into your own backyard first. Renting out of state can be difficult but still achievable. On the other hand, California has so many restrictions, rules, and laws that you’ll have to do extra due diligence. In the end, just get your first deal under contract and get the ball rolling!

Hey @Alex Kovalenko! Depends on your criteria. If you want to have thousands of doors one day then you shouldn't spend your day worrying about tenants not agreeing to a background check. Having a background check does nothing to harm your criminal record or anything of the sorts, so why is he denying it? If I were in your shoes, I would move on to the next tenant. Be patient in finding the right fit! Hope this helps!