All Forum Posts by: Matt M.

I bought two off market in 2019. Drew up the 3/4 page contract myself from forms I found using a google search. Mine was as-is properties. We both signed and I handed it off to the title/abstract company and they did the rest. Super easy!

2 Votes

Newark, New Jersey

I’m 10 mins from NJ (grew up in NJ) and won’t invest there even if I had that kind of money.
maybe people are tired of the taxes and taking 6 mos to evict? :)

2 Votes

I don't know why everyone is so eager to set up LLC's. It's really unnecessary. Get high limits on your landlord policies and an umbrella policy.

2 Votes

I sure did! It was about 12 years ago, I definitely paid taxes but not sure about fees.
I did very well on that house that my ex wife’s 401k bought me :)

0 Votes

San Diego, California

Quote from @Samuel Kissick:

Hello!

One of my tenant's recently asked for an invoice for their upcoming rent payment. They have been renting from me for 6 months with zero issues and have never asked for this before, so I thought it was odd. I provided an invoice without asking questions because I like to be as "hands off" as possible. A few days later they informed me that I would be receiving rent from their employer via check (we usually collect rent through an online service although we are flexible). Should I be concerned? In what situation would this occur? Should/can I ask them details about the circumstances of this? They have been a great tenant so far and passed all of our screenings with flying colors so I would like to keep a good relationship.

Thanks!

Maybe your tenant was short this month and the boss offered to help them. If rents being paid, don’t worry about where it comes from

2 Votes

Indianapolis, Indiana

Find a deal And do a tax free live-in flip! Fix it up and wait 2+ years, sell, and do it again! I could never rent rooms in my house, even when I was single. No time for others bs where I live.

4 Votes

Quote from @Bruce Woodruff:

@Christine I. It would be great if it pencils out. The bottom line of course is - will you achieve significant ROI on the money that you put into this? OOS might be better, but it is admittedly sexy owning a beachfront house in Cali....

I’d rather own a big multi with that kinda money out of pocket. 20 or 30 units to me is more “sexy” than some fancy beachfront in cali. But, that’s probably because I’m a blue collar guy.

1 Vote

File an eviction now. By me, it costs under $350 and takes 41 days start to finish. Get them out, clean up the property and get it on the market

1 Vote

If Eden is similar/same as section 8, you won’t get a dime from them. Best thing would be to report what the tenants did and they will likely be removed from the program

2 Votes

Cleveland, Ohio

Unnecessary. Get high coverages on your landlord policies, a $mil or two umbrella policy. I don’t have an LLc for mine. And neither do clients of mine with 20, 30 properties

1 Vote

Little Rock, Arkansas

All Forum Posts by: Matt M.

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

Post: How to close off market deals without realtor

Post: Is the NJ forum dying out?

Post: When Do I Set Up a Single Asset LLC?

Post: QDRO 401K for down payment

Post: Why is my tenant's employer suddenly paying their rent?

Post: QOTW: If you had an average income, but don't want to househack..

Post: Investing in High End RE for STR

Post: Tenant Uncooperative and will not pick calls

Post: Turnover question, tenant left property is poor condition

Post: When to start a business? (LLC)