All Forum Posts by: Matthew Rogers

Hi gang,

I called almost every brokerage in my area today to learn if there is any type of real estate networking group in my town (50k population). No one knew of anything happening. I’m not an agent, but I feel like this might be an opportunity to start my own. Thoughts?

Anyone interested in starting a meet up in Minot? I’d like to get together with other area investors/professionals that want to hang out and talk real estate investing! I have 3 single family homes I’m happy to discuss and I’d love to learn from you as well. How about Monday evening the 25th?

-Matt

Hello friends!

I recently leased out my 2nd SFR. Both cash flow approximately $300 after expenses. I have around 25k in reserves and my job nets me $8k a mth. My niche is high end SFR. Multi family and commercial are terrible buys in my market.

I listened to podcast 55 and took the guest advice on calling local lenders to evaluate next steps for growth. One lender at an institution I’ve done 4 conventional deals with offered me a $250k credit line!!!

My question to you experts is how best to deploy that money assuming the terms are reasonable. I’m leaning toward a direct mail campaign and brrrrr as many SFRs as possible. I can up a 3/2 at around 60-80k.

Thanks!!!

Of course the answer is very market dependent.  The big thing to watch out for with condos are the home owners associations.  HOAs can be very controlling and make decisions that negatively affect your investment.  Generally, you own what is inside the 4 walls, but the rest of the building and associated policies are beyond your control. I wouldn't rule it out completely, but do your due diligence.

You certainly can factor the principle and increased appraisal value into your ROI equation. Just know that the metric of determining a good deal going in is the projected cash on cash ROI after factoring in net rent. At least that is what I tend to use. I target 12% +. Also, look into return on equity calculations to determine how well that original investment can perform for you over the long term. Once you get about 40% equity in a property, a good strategy is to do a cash out refinance to recoup your original investment and utilize it toward another property. Hope this helps!

Hello BP friends,

I'm planning on creating a local meet up for investors in my area in the near future.  Do any of you have suggestions on the structure/timeline/agenda on how these meetings should go? I'm a new investor myself and want to ensure that my event is not a waste of time for anyone! Thanks for the help!

Brent,

I’m not well networked in the community yet. It’s a big focus item for me in 2021. Keep in touch and when Covid calms down, I’ll organize a local meetup.

I currently have 2 rental properties and am hoping to scale in the central North Dakota region over the next 5+ years.  Does anyone have any CPA/CFP/Legal recommendations who specialize or are knowledgeable about real estate investing? I am located in Minot. Thanks in advance! -Matt

@Tyler Franca I have 2 SFRs

@Tyler Franca Sweet! I landed one today near Oak Park. Where’s yours?!