All Forum Posts by: Matthew Morrow

Ricardo, 
Heloc to to deploy the equity if your returns will justify the repayment...otherwise creative / seller financing would be a great way to break into the game. Door knock and find some motivated leads. Just curious- the crew of 4 men- are they laborers looking to help with a BRRRR/ flip style property?

Wholesaling can be a great way to break in. @Richard Clark- youre out that way, can you lend some advice?

 David, Our CPA is fantastic. She as well as all other descent ones are slammed this time of year but very well versed in and out of real estate. We send her thru a look yearly lol.

Paula Bitterman / Rapid Return

610-262-7538

Would love to see how this project is going. Any updates?

 Love the profile picture!!! Thats a great shot of Steelstacks.

We've had fantastic experience with Alpha Omega Plumbing / HVAC. 610-428-0826

Theve done numerous large scale jobs for us and several clients. 

 Hi Maura,

The Lehigh Valley is a very unique spot- especially now. Tons of competition in the 2-4 family space. However we are seeing some deals come thru that work if you're willing to be creative. Mainly going after ones that have been on the market for a little while, or taking on a building that needs to have utilities split. The most success has been looking at places that have been on market for 30-60+ days. Have to be careful tho because if the loan is FHA sometimes these may have some baggage.

We've helped several clients get into Bethlehem / Allentown area owner occupied 2-4 units in the last year- but many of them are looking at the equation differently.  To them- going from renting an apartment paying $11-1200 /mo, to owning a 3 unit with -$500 / mo net cash flow- its actually a positive 700+ difference. Once they move out of the multi unit, then you start to see more overall positive numbers.

One of the big issues around here is the inflated prices. We are routinely seeing multi units listed for 120-130K / door and well over the standard 1% rent rule, requiring atleast 1% of purchase price / month in rent. Its hard to break into the market with competition and prices like this, but opportunities are out there.

Id suggest talking with an agent in the area if youre not doing so already. If you need help with it, or want to chat more- please reach out. We are local and know the area very well. 

Aweseome. Hope it stays busy for you. Investors are the best clients and they're out like crazy right now. Never know who your next partner will be lol 

@Tim Adams in general - yes. FHA will allow you to use their products if you qualify pending you actually plan on living there for 12 months. Many investors use this to purchase assets with little cash out of pocket, stay for a year then rent their space out and do the same thing over and over. Once you hit 10 loans in your name however things change and youll need to consider an LLC or other entity. These are GREAT problems to have. Good luck!

These forums are the best place to network. Just search a topic, find a thread, and reply away. People come out of the woodwork- its amazing.
If you do your own post- it takes a bit to get tractions tho.

Many of us have smaller BP style groups in more localized areas to help in-person meetings. I host a virtual meetup to take advantage of the remote Investors and those with interest in Eastern PA.

Good Luck!

These forums are amazing. So many good people out there. 
S. Florida market is wild- are you a full time Realtor down there?