All Forum Posts by: Matt Schreiber

@Nathan M kiefer Interesting, I've looked into Ocean Lakes. Just curious how come you're so down on the oceanfront condos?

@John Underwood Thanks for your input, I assume a beachfront house is going over 1 million in that area right?

I've been noticing a lot of inventory for beachfront condos in Myrtle Beach and North Myrtle Beach. It also seems like a lot of the condos sit on the market for 3 months or more. Just curious if anyone is doing STR's in that market and what kind of results they're seeing.

@Greg Kasmer @Nicholas L. I appreciate the responses from both of you guys. This is kind of what I was thinking as well in the current market. I hear Dave Meyer sometimes talking about Green Bay, Wisconsin and a few other markets on the podcast where he's saying you can go on Zillow and find some deals that are cash flowing. When I think about cash flow, I think at least $400 per month. I've heard people mention Rochester, NY and Cleveland, OH. I've just been trying to figure out if there are ways to cash flow in real estate right now. I know of all the benefits that come with real estate but it seems like if you break even with 20 percent down, those are similar returns to just putting that money in the S&P 500.

I know this is a common question but wanted to hear specifically from investors or realtors that are seeing MLS cash flow for 2-4 unit properties. I've only invested in STRs and was looking to get into small multi-family but haven't seen anything that made sense in any of the markets I invest in so was curious where people were seeing good opportunities.

@Rahul Kanani hey it’s in Tobyhanna and not even in the best community but still does well. It seems like it just has to be lakefront 

@Garrett Brown I don't think this is an up and coming market at all but I've found the lakefront houses in the Poconos to do really well. I own one house there and I personally don't really love the area to go on vacation but a nice 3 bedroom house on the lake can do over 100k without it being exceptional and those properties are still available for under 600k. I haven't been able to find another current market with those types of returns. 

Yes fixed rate 

@Rick Borgo They said it was no points but I'm sure there was some sort of origination in there. I didn't get the full loan estimate from them yet. 

I ended up finding a pretty good credit union that covers New York, Pennslyvania and New Jersey. Its called Municipal Credit Union. They had 6.1 percent for 10 percent down second home loans yesterday.