All Forum Posts by: Matthew Smith

@Stephen Hundley, do you have a discount renovator, sweat equity, or magic?  How did you get all of that done for 15k?  It looks great!  Seriously, though.  Did you do anything special to get it done on that budget?

Thanks @Jack Butala!  I've found the podcast and it's quickly becoming my daily listen while driving.

I see I'm a whole year late to this party, but I use Sandra Germer as my CPA.  She's owned a brick and mortar business as well (restaurant).  I've had a quite a few conversations with her about RE and feel comfortable expanding into real estate with her services. 

Good Morning!

I'm one of the many Matt Smiths that you already know.  I grew up in a small dutch town in IL, eventually joined the Air Force, and found myself in Omaha, NE.  My wife and I own a brick and mortar business and have an extreme entrepreneurial bent.  Our eventual goal is to build a 4-5 unit commercial property to house our salon as well as enough residential units to "retire" in the next 10-15 years.  While I do not have experience applying what I've learned, I have spent a few years gathering knowledge about investing in real estate.  It's time to pull the trigger, build a local network, and start analyzing deals.

We are looking for cashflow after taxes and expect our first deal to be a relatively small single family property.  Eventually we will look to scale to larger single family and multi-family properties.  We are looking for a foreclosure/motivated seller for the first deal, and willing to wait until we can make the property give us the numbers we want.

Excited to hear from the community, please reach out if I can clarify or help in any way.  Let's get it done!

Josh Nix , thank you for the reply. I definitely thought that might be an issue. More investors show up than notes issued. I'm curious since you are in a similar market as me, what are some ways to reduce cash in? My small network is growing, but I'm hearing 15% minimum.

Hey Ya'll, New investor here. Saving capital for my first rental. I wanted to ratchet things up a bit and earn some money using tax liens. I have the benefit of living on the border of NE/IA, hooray two sales! What are the major things to watch out for? The way I see it you can go wrong two ways. 1. Acquire a lien on a dud. That could be an undevelopable property/condemned/0 value. 2. Risk too much money on one property. If the lien > 10% property value, stay away. NE/IA both use the random draw process with no bidding down interest rate. NE is 14% per year, while IA is 24%. Nebraska needs 3 years of non-payment for foreclosure, IA 2. Worst case scenario, don't get paid for 3 years and have to spend some money to foreclose. How can I lose? Matt