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All Forum Posts by: Matthew Morrow

Matthew Morrow has started 50 posts and replied 416 times.

Post: REI and Development!

Matthew Morrow
Posted
  • Investor
  • Pennsylvania
  • Posts 421
  • Votes 159
Quote from @Jessica Carcamo:

I'm interested in connecting with like minded individuals who are also passionate about real estate investing and property development. I would greatly appreciate any advice you could offer on how to get started with buying your first property also Are there specific resources or strategies you found most helpful when you were starting out? If you know of any local groups, events, or online communities where I could meet others who share this ocus on educating yourself about the market and financing options. Books, podcasts, and online courses can be invaluable resources. Networking is crucial, so consider joining local real estate investment groups, attending meetups, or participating in online forums like BiggerPockets. Look for local events on platforms like Meetup.com to connect with others. Building relationships with real estate agents and joining social media groups can also help you find opportunities and gain insights. Good luck!

 To get started in real estate investing, focus on educating yourself about the market and financing options. Books, podcasts, and online courses can be invaluable resources. Networking is crucial, so consider joining local real estate investment groups, attending meetups, or participating in online forums like BiggerPockets. Look for local events on platforms like Meetup.com to connect with others. Building relationships with real estate agents and joining social media groups can also help you find opportunities and gain insights. Good luck!

Post: How to connect with local investors?

Matthew Morrow
Posted
  • Investor
  • Pennsylvania
  • Posts 421
  • Votes 159
Quote from @Nelisa Lee:
Quote from @Lane Mcdonald:

Being only about a year into my investing career I'm still very green and don't have many re investing relationships other than my loan officer and realtor. I hear and read time and time again that it is very beneficial to be in the same room as people that are where you want to be financially but I don't know how to make that happen exactly. First of all, my town and the ones surrounding are pretty small and don't have much for events for these types of people often enough to make a huge difference. I have contacts with a couple of bigger investors in my area that I would like to get in touch with, but I fear I have little to offer for their time. I'd like to think most people are kind and would give me the time of day but from their prospective I'm just some 19yo kid who's going to waste their time. Even if they did give me the time of day it doesn't seem very fair that I can't offer much to them in return. I know it's not all about the tradeoffs, but I also don't just want to be a leach to them. Any advice would be appreciated! :)

Hey Lane, my advice would be if your town doesn't offer any networking or events, I would encourage you to take matters into your own hands! Why not start your own? I've seen so many investors in my area start their own meetups... anything from breakfast meetups, lunch at a local restaurant, grilling out/firepit in someone's backyard, etc. If you're providing value, people will come. 

I would also continue to nurture those relationships with the bigger investors you mentioned you already know. I would try to find opportunities to bring to them that you could partner on with those investors. In the beginning of my investing journey, we did lots of partnership deals and learned so much from the process. 

Hope that helps!

Bingo. This is so massively powerful.   Not only to ensure the networking happens, but the benefits of being the ringleader are endless.  Its astronomically changed our business holding a local meetuo.  

Post: Building my home here in NJ possible?

Matthew Morrow
Posted
  • Investor
  • Pennsylvania
  • Posts 421
  • Votes 159
Quote from @Jonathan Rivera:
Quote from @Matthew Morrow:
Quote from @Jonathan Rivera:

Hey guys, I needed some advice on new construction here in NJ.

Me & my wife want to purchase a second home as our primary home but prices on houses are super over priced and just not worth it especially with inventory being so low & the market just all twisted.

My thought was to maybe pick the town I want to live in and potentially see if I can get vacant land to build on obviously.

I wonder if maybe it will cheaper to do this strategy instead of getting a loan for 600-700K home that still needs work and I’m not happy about it..


thoughts?



 Hey! It’s a challenging market in NJ. Building a new home could be a smart move, especially given the high prices for existing properties and low inventory. Exploring vacant land in suburbs or up-and-coming neighborhoods could offer you cheaper build costs and potentially lower taxes as well. Our team see this frequently state wide.  

Just keep in mind that construction costs can add up and timelines for building can vary. If you're considering this as an investment property, it's also important to analyze the potential return on investment and rental market in those areas. Ultimately, if you find the right land and feel confident in the building process, it could be a great way to create a space that meets your needs. Good luck!

Thank you! This will specifically be my primary home if we move forward with this 
Primary homes are a great way to start.  Just a suggestion- if it’ll eventually be a rental- build it as such.  Don’t go over the top on anything you won’t be long term living in yourself.  Save that for your forever home. 🍻

Post: Tenant couples requested rider agreement to lease.

Matthew Morrow
Posted
  • Investor
  • Pennsylvania
  • Posts 421
  • Votes 159
Quote from @Patrick Idowu:

Thank you so all so much! I appreciate everyone's response.  I told them NO and they agree to terminate the lease early and move out by the end of the month. I hope they do because they have been an horrible tenant. 

Good.  Defend  your lease.  Their issues are theirs alone.  👍

Post: New Landlord to W. Philly

Matthew Morrow
Posted
  • Investor
  • Pennsylvania
  • Posts 421
  • Votes 159
Quote from @Desati Nyanwleh:
I will be owner occupied but I can give more details after while. 
Thanks for your response. 
When are the local meet ups hosted and where. 
I'm typically free for Saturday & Sundays. 

Nyanwleh, MBA
Awesome. Owner occupied is a great way to start.  Our meetups are physically outside Allentown as our team covers Easter PA up to Wilkesbarre.  But we have remote / call in options if you prefer.  Let me know if you want more info and I can send it over. 👍 

Post: Questions For Previous Landlords

Matthew Morrow
Posted
  • Investor
  • Pennsylvania
  • Posts 421
  • Votes 159
Quote from @Denishan Joseph:

Hey all, I received an application from a potential tenant. What are some good general questions to ask the potential tenant's previous landlord? Want to make sure I am doing my due diligence in choosing the right tenant for my property.


 When contacting a potential tenant's previous landlord, consider asking about the tenant's payment history, whether they consistently paid rent on time, how they maintained the property, if there were any complaints from neighbors, and the reason for leaving. You might also want to know if they would rent to the tenant again. These questions can help you gauge the tenant's reliability and suitability for your property. Good luck!

Post: Am I creating a potential discrimination claim for myself?

Matthew Morrow
Posted
  • Investor
  • Pennsylvania
  • Posts 421
  • Votes 159
Quote from @Craig McCarter:

I have one rental property - a house that I used to live in for 5 years. Each of the past tenants have been great and I have been very transparent with them - we're looking for the right fit, someone that will take care of the place, not be a headache, etc. Basically out of all the people that were interested, I have chosen the people I liked/trusted the most. 

The unit is coming up for rent again soon and I'm wondering if I am opening myself up for a claim of discrimination with this process - where a tenant who is not chosen could claim that I rented to someone else based on their (fill in the blank of protected class)?

Any tips on how I should potentially navigate this differently? but also, I really like being able to hand pick my favorite from a pool of applicants. 


 It's great that you've had positive experiences with tenants and value finding the right fit. However, your concern about discrimination claims is valid. To navigate this, consider implementing a standardized application and screening process that focuses on objective criteria, such as income, rental history, and credit checks. This way, you can still have a personal touch in your selection but ensure that your decisions are based on measurable factors rather than subjective preferences. Document your process and the reasons for your choices to further protect yourself. If you have any doubts or questions, it’s always best to consult an attorney to ensure you’re compliant with fair housing laws.

Post: Would you rent to someone with a housing voucher?

Matthew Morrow
Posted
  • Investor
  • Pennsylvania
  • Posts 421
  • Votes 159
Quote from @Janice Chang:

I am in the process of renting out my property and screening tenants. So far the applicants that are coming in are unemployed but have housing vouchers that can cover 100% of the rent.

I am new to housing vouchers so curious what ppl think about this.

Appreciate any insight.

I've had quite a few tenants with housing vouchers, and it can be a positive experience if you screen them carefully. While it's concerning that the applicants are unemployed, housing vouchers ensure that their rent is covered, which can provide you with consistent payments. It's important to look at their rental history, references, and overall reliability as tenants. Additionally, be aware of any specific requirements or regulations related to accepting vouchers in your area. Overall, if they meet your screening criteria, it can be a good arrangement. Good luck!

Post: Interest in rental for group home

Matthew Morrow
Posted
  • Investor
  • Pennsylvania
  • Posts 421
  • Votes 159
Quote from @Jed Leviner:

Hello allI just had someone reach out about renting one of my properties to use as a group home or adult care home housing adult males.


Has anyone done this and what has your experience been?  Are there addition conditions I should consider if I do lease to them?


Renting to a group home or adult care facility can be a viable option, but it comes with specific considerations. While we don’t have direct experience with this, we have clients who do, and they usually report great experiences when zoning and other regulations align. You'll want to ensure that the lease clearly outlines the terms and responsibilities, including occupancy limits and any necessary modifications to the property. It’s also important to check local zoning regulations and licensing requirements, as these can vary significantly. Additionally, consider how this arrangement may impact your insurance and liability. Connecting with other landlords who have experience in this area can provide valuable insights. Good luck! 

Post: Would appreciate advice on tenant screening and a big inconsistency...

Matthew Morrow
Posted
  • Investor
  • Pennsylvania
  • Posts 421
  • Votes 159
Quote from @Kristine Lambert:

Hi all, 

I'm hoping someone more experienced can provide some guidance for me. My fiancé and I have a SFH that we just finished renovating to list for rent. While working on the house last week, a woman and her adult son stopped by to ask if we would be renting soon. We explained that we would be listing this week and allowed them to look around. In the course of talking with them, the son mentioned separately to both me and my fiancé that he lived with his mom, had done so for a while, and was planning to take the smaller bedroom. He also made comments about taking care of the lawn, etc.

We listed the house last night and the woman immediately applied.  We advised her that her son also needed to apply and she replied that her son was not going to live with her and was out of town through the end of the year. 

I'm not sure how to respond given that he was quite clear that he intended to live there. Our form lease forbids any adult from living in the house who is not on the lease, but am I just setting myself up for a fight later?  

Kristine 


 It sounds like you're in a bit of a tricky situation. Since the son clearly indicated he intended to live there, it's important to address this upfront. You can explain to the woman that your policy requires all adult occupants to be on the lease for liability and compliance reasons. If the son is indeed planning to live there, he will need to apply as well. This sets clear expectations from the start and helps avoid potential conflicts later. Just be transparent about your policies, and hopefully, they'll understand your position. Good luck!