All Forum Posts by: Matthew Wright

That is an option. They can be turned to condos at anytime. There’s no town involvement when it comes to condo conversions. But i plan to hold and rent.

I currently have a property with a 4 unit on it. I can build 12 more units. I’m torn between building 6 duplexes or a bigger building instead of multiple duplexes. Has anyone had recent experience in this or recently seen the numbers on which is more cost effective? Also, It can’t be subdivided and the duplexes won’t be able to be sold off individually. All 16 units would have to remain on same lot/deed forever (so in terms of value, I can’t capitalize on the duplexes being sold to conventional non commercial buyer) think financially it would be nice to phase it out one duplex at a time. But seems efficient to go with a 12 unit or 2 six unit buildings. Maybe the construction costs would end up being the same no matter how it’s done, but I haven’t done much new construction last few years, I’ve just been buying existing stuff, so I just don’t know. 
thanks!

@Drew Sygit hi drew, 65 doors… it does sound like it’s more of a headache then it’s worth…

@Nathan Gesner thanks Nathan, what app do you use to charge? Is your application emailed to them or is there a link in your ad?

@Andrew Syrios thanks Andrew, my applicants do pay, but via apartments.com but I’m more curious if anyone has their own system where they put a link in their ad and applicants pay for app and payment goes to landlord directly and the landlord uses their own app rather than a 3rd party.

How do you currently accept payment from applicants?

I’m hoping there’s something more efficient than me emailing applicants pdf application and then they Venmo me or something, I’d prefer better automation.

I’ve never charged for an application, I use 3rd party, such as apartments.com. I’d like to start charging for applications, and screening myself, any suggestions of best way to do that?

Is there any RE funds out there that has a minimum buy in of less than 100k, that are reputable? Im looking to park some SDIRA funds in a syndication, the good ones like Brandon Turner, Michael Blank, Rod K all have 100k minimums (last I checked). I Have 80K and Id like to put it to work, but looking for trustworthy syndicator with less than 100k buy in.

Thanks!

I plan to just hold the property long term. It’s only 80k that I have in my ira, and it’s a really good deal on the land. I haven’t found many other good opportunities at that price point…

I’m looking to buy land using my SDIRA. The seller is going to finance about 50% of it. Is there anything I need to keep in mind in order to make this transaction work? I read that you can’t personally guarantee it on the mortgage side, so I’m expecting this to cause problems when it comes to drafting the mortgage, and the language there. Is there a good way around that piece?