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All Forum Posts by: Matt M.

Matt M. has started 45 posts and replied 1869 times.

Post: Accept Pets or Too Risky?

Matt M.Posted
  • Specialist
  • Easton, PA
  • Posts 1,901
  • Votes 2,548

Amazingly enough, the next post I went to after this one was “pet odor in engineered flooring” 

Post: Accept Pets or Too Risky?

Matt M.Posted
  • Specialist
  • Easton, PA
  • Posts 1,901
  • Votes 2,548
Quote from @Bruce Woodruff:

Yeah. @Matt M. I just see no value in accepting pets. There is always that risk...and even if you get lucky and the pet is an ok one, you will still have extra cleaning and repairs.

Although I have tons of animals, so don't think I'm an animal hater folks, I just don't want them in my properties (that I rent).

Exactly. Just no value and not worth the risk. I’m seeing more and more landlords not accept pets, and people just don’t get it and get so angry about it. Well, when people aren’t responsible pet owners, it turns landlords away from accepting them. They don’t care about the odor and damage that is done to “some rich landlords” investment. 

Post: Accept Pets or Too Risky?

Matt M.Posted
  • Specialist
  • Easton, PA
  • Posts 1,901
  • Votes 2,548

@Bruce Woodruff and I usually find these posts and love to comment on them. 

I am 100% absolutely no pets. As a contractor for the last 18 years, and the last 12 or so primarily working for investors, I’ve seen and smelled it all. I’ve turned a few clients away from continuing to allow pets, and I don’t allow them in my properties. It’s not worth the risk of a few hundred $ more a year. And as for the renter pool being smaller, I’d rather lose a month of rent than have my houses destroyed and stinking.  My non pet tenants appreciate my houses that don’t have underlying pet odors, which non pet people can smell. 

Post: Wholesaling in New Jersey

Matt M.Posted
  • Specialist
  • Easton, PA
  • Posts 1,901
  • Votes 2,548

I’m going to 2nd what @Jonathan Greene said. 

Post: Thoughts on FHA 203k Loan.

Matt M.Posted
  • Specialist
  • Easton, PA
  • Posts 1,901
  • Votes 2,548

As a contractor, I have done one 203k job for a client. In my end, there was tons of paperwork, complete background check, etc. 

but at the end of the day, it went smoothly for me. I did get a down payment, when I was done they did send in someone to inspect my work for quality and the scope of work outlined in the contract. I think I was paid in 10 days. 

Post: It's not possible? 850 FICO for a RE investor?

Matt M.Posted
  • Specialist
  • Easton, PA
  • Posts 1,901
  • Votes 2,548

Wife and I have 3 mortgages, I have two car payments, she has some student loans, we are both above 825. 

Post: Asked to Develop 80 Units on Religious Property

Matt M.Posted
  • Specialist
  • Easton, PA
  • Posts 1,901
  • Votes 2,548

“The goal of the religious organization is to provide income to their organization from the rent and thus creating long-term sustainability for their organization. At the same time, they want to provide housing opportunities for their community.”

Tax free income.. 

 From a moral standpoint, I personally wouldn’t do them any favors. Actually I wouldn’t do a thing for them. 

Post: Ready to close on 4plex, tenant wont leave.

Matt M.Posted
  • Specialist
  • Easton, PA
  • Posts 1,901
  • Votes 2,548

If the seller was responsible for getting them out, let them know you won’t close until they are out. Or have the seller credit you money to live elsewhere until they’re gone. 

Post: Experienced Investors Who Have Hit the "Pause" Button Recently

Matt M.Posted
  • Specialist
  • Easton, PA
  • Posts 1,901
  • Votes 2,548

I bought two SFH off market in 2019. I've put one offer in since the pandemic. The prices here have been insane. So yeah, guess I kinda hit the breaks but still look every day, numerous times.

Post: My Thoughts on the Current Economy (Will I Upset All Parties?)

Matt M.Posted
  • Specialist
  • Easton, PA
  • Posts 1,901
  • Votes 2,548

I really really wanted to read all of this, and I tried, twice. It just made me feel less intelligent as I don’t understand a lot of it. Haha.  But I gave it a go, @Scott Trench, I respect who you are on here (and that you’ve liked a few of my comments along the way)