All Forum Posts by: Matt Popilek

@Adam Adams - I actually got my deals for really cheap. The 14 plex was $10 and the 22 unit I got private money and didn't use much of my own money..I ended up with $18k of my own money at the end just to finish the project as I went over budget a little.  I would love to be interviewed on your podcast if you think your listeners would be interested.  Find me on FB and we can connect here to discuss further.

Based on basic view you would be bringing in Gross around $2200/month after rental of the one unit is increased and the other 2 bed unit is leased. I am not familiar with your location, but if I was looking to house hack I would want to At Least cover my mortgage payment with the rents.  That being said I would probably not buy this property as it doesn't cash flow. Even if you rented all 3 at the highest rents you will probably not cover the mortgage payment which to me makes this not a good purchase. I would be looking for something I could buy and create income day 1 rather than paying monthly.

@Belinda Lopez Thanks for the insight. Public Schools are for sure a concern! I will make sure to do the due diligence!

@j chad davis I will be looking for a MF for my first purchase and will get to know the local market before I get the next one.

@Account Closed - Thanks for connecting! Let's communicate through email so we can schedule a meet up once I move to TX! 

@J Chad Davis - My dream has been to live on the beach for as long as I can remember. The 14 plex I am renovating I am planning to sell, and reinvest the proceeds into a beach front property that I can Short Term Rent, and live in as well.  I really hate cold weather so I plan to move the family down to Texas, and open another company in Houston area...So I will be running an investment company in KC and Houston once I make the move...Hopefully this summer as long as everything goes as planned.

I did - My first property was a 14 plex, then a duplex, and last a 22 unit.  I really like the ability to scale, limit the risk on eviction and vacancy with higher numbers. 

@Dan Krupa Thanks! See you soon.

I don't have any smaller multifamily in my portfolio that is long term rental. If I was buying something that size I would negotiate the price such that I got those numbers.  If I wasn't getting those numbers I probably wouldn't be the Buyer for that property.

440 E Meyer Duplex - I AirBnb with an average Gross rent $4000/month with a 2k mortgage and tax bill each month $800 PM cost, $300 utilities - Rough monthly income of $900 on 2 doors.  My 22 unit is still new but that is expected $5000 net/month at $227/door