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All Forum Posts by: Matt Stricklen

Matt Stricklen has started 39 posts and replied 217 times.

Post: ACH Options for Older Tenants?

Matt Stricklen
Pro Member
Posted
  • Investor
  • Austin TX
  • Posts 224
  • Votes 152

If your bank has a branch where they live, you could also give them some deposit slips and have them go to the bank and deposit right into your account. 

Post: New Construction in Austin

Matt Stricklen
Pro Member
Posted
  • Investor
  • Austin TX
  • Posts 224
  • Votes 152

If you are going to put 20% or more down, you can indeed cash flow. Additionally, if you live in the property before turning it into a rental, you'll satisfy the more particular builders requirements for owner occupancy. 

Of the builders we have visited, there is one that is consistently welcome to investors from the start. I don't think I'm supposed to name names on the forums, so you can message me if you want to talk about that more.

Post: I'm a Real Estate Investor, but my Degree is in...

Matt Stricklen
Pro Member
Posted
  • Investor
  • Austin TX
  • Posts 224
  • Votes 152

Check out this answer from 1957! This valuable forum post has reminded me of a passage from Conrad Hilton's great little autobiography, Be My Guest:

<<Instead of Dartmouth, I now entered the New Mexico School of Mines...what I learned at Socorro has been invaluable to me. I learned really to understand higher mathematics. I'm not out to convince anyone that calculus, or even algebra and geometry, are necessities in the hotel business. But I will argue long and loud that they are not useless ornaments pinned onto an average man's education. For me, at any rate, the ability to formulate quickly, to resolve any problem into it's simplest, clearest form, has been exceedingly useful...I found higher mathematics the best possible exercise for developing the mental muscles necessary to this process.       In Later years  I was to be faced with large financial problems, enormous business deals with as many ramifications as an octopus has arms, where bankers, lawyers, consultants, all threw in their particular bit of information... but in the end someone has to pull them all together, see the actual problem for what it is, and make a decision- come up with an answer.                                           A thorough training in the mental disciplines of mathematics precludes any tendency to be fuzzy, to be misled by red herrings, and I can only believe that my two years at the School of Mines helped me to see quickly what the actual problem was- and where the problem is, the answer is. >>

Post: Deciding between 2 markets - stuck in analysis paralysis

Matt Stricklen
Pro Member
Posted
  • Investor
  • Austin TX
  • Posts 224
  • Votes 152

Read through this thread and other posts from @Seth Teel to gain insight and excitement for San Antonio.

https://www.biggerpockets.com/...

Post: San Antonio Real Estate Meet-ups

Matt Stricklen
Pro Member
Posted
  • Investor
  • Austin TX
  • Posts 224
  • Votes 152

@ericruiz has been hosting a quality meetup.

https://www.biggerpockets.com/...

Post: 1% rule, 2% rule are BS...

Matt Stricklen
Pro Member
Posted
  • Investor
  • Austin TX
  • Posts 224
  • Votes 152

I think one of the most underappreciated benefits of these rules is that they help newbies to pump the brakes while they are getting their education. Thousands of would be newbies are scouring the MLS right now looking for 1% deals and it's going to help them work through the numbers, understand the nuances, and dig deeper into what it means to invest in real estate before flooding into a market while others of us move forward.

Post: I'm a Real Estate Investor, but my Degree is in...

Matt Stricklen
Pro Member
Posted
  • Investor
  • Austin TX
  • Posts 224
  • Votes 152
Originally posted by @John Sharpe:

My undergrad was in Geography and I haven't finished my master's.  I can't say Geography has been super helpful, aside from understanding some climatology or demography aspects.  Others in my program went on to study urban planning or environmental issues so those would be more useful paths.

@John Sharpe if your geography degree includes some GIS work, I think you are hugely marketable to other investors!

Post: I'm a Real Estate Investor, but my Degree is in...

Matt Stricklen
Pro Member
Posted
  • Investor
  • Austin TX
  • Posts 224
  • Votes 152

My bachelor's degree is History, and I have an M.Ed. Not specifically related to real estate, but as a teacher I'll say that a quality general education, including problem solving skills and critical thinking are priceless to every person in the world as well as to my REI.

“For me, I am driven by two main philosophies: know more today about the world than I knew yesterday and lessen the suffering of others. You'd be surprised how far that gets you.”
Neil deGrasse Tyson

Post: My plan for investing $400k

Matt Stricklen
Pro Member
Posted
  • Investor
  • Austin TX
  • Posts 224
  • Votes 152

Couple of thoughts:

1) Don't be scared by people who say you can't cash flow in Austin. Be glad they are too scared to compete with you  and come find your success.I'm happy and blessed with my cash flow here and my wife slaps my hand when I think about selling the great duplex we have to go somewhere else.

2) Watch out for the swarming vultures! You've said " I have 400K and I'm new." You may now have the most email solicitations of anyone in the history of BP.

Post: More of your money to evaporate at closing

Matt Stricklen
Pro Member
Posted
  • Investor
  • Austin TX
  • Posts 224
  • Votes 152