All Forum Posts by: Matt Zoch

Good advice, thanks Drew.

Does anyone one have a recommendation for a Property Manager in the Palm Bay, FL area?

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $229,000
Cash invested: $57,250

3 br 2 ba 2 car garage. 1,400 sq ft living space. 7,400 sq ft lot.

What made you interested in investing in this type of deal?

Solid SFR in a good neighborhood.

How did you find this deal and how did you negotiate it?

Was a primary residence and then moved.

How did you finance this deal?

Conventional financing with a local Mortgage Broker.

What was the outcome?

Great buy and hold SFR. Do not plan to sell it. Mortgage will be paid off in 2032.

Investment Info:

Single-family residence buy & hold investment in Vancouver.

Purchase price: $170,000
Cash invested: $34,000

SFR 3bd 2 ba 2 car garage. 1,500 sqft living space on 7,500 sqft lot.

What made you interested in investing in this type of deal?

Always wanted to get into rental homes as an investment from a young age.

How did you finance this deal?

Conventional financing through a local mortgage broker.

What was the outcome?

This has been a great buy and hold property, I do not plan to sell it. It will be paid off in 2032.

Lessons learned? Challenges?

Never rent to family, haha!

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Mark Schaller at HomeStreet Bank in Vancouver WA is a great lender that works with investors and has a fair fee schedule.

Great breakdown and details. Thank you for sharing your experience. Do you mind sharing house specs to get an Idea of house compared to rent?

Bedrooms:

Bathrooms:

Garage:

Sqft:

Also, do you mind sharing sho you are using as your PM?

Thanks!

Hi BPers!

My name is Matt Zoch, I live in McMinnville, OR. I found BP about a month ago and registered as a free member about a week ago. I currently have 2 rental properties (SFR), they are both in Vancouver, WA. My first rental was purchased was in 2003 which is 1 of the rentals I only have 2 rentals because of a bad series of events that went down with me and my old partner in the financial crisis. My rentals are in Vancouver because I lived there from 2000 to 2012 and wanted to start out locally.

Even though I have 2 rentals and did a lot of lease options and even owned some multi-family and an a small RV park back during the crisis I still consider myself somewhat of a newbie. The reason I consider myself still a newbie is, although I have some experience and lessons learned, I do not have a group of successful Real Estate folks that I know that I can network with, learn from and talk to. Now that I'm interested in getting back in the game I found BP, the Northwest REIA and will be attending the Salem, OR meeting in February.

I'm 40 years old and have a good day job. I'm looking to continue to buy and hold SFR on the side as part of a retirement plan. Since my strategy is buy and hold I heard a podcast on Turnkey, which I had not heard of before (I've been out of the game awhile, I know), and liked the idea for someone like me looking to do buy and hold on the side. This took my research over to turnkey-review.com where I listened to a few podcasts and started doing more research on Turnkey providers. I'm not sure if turnkey is for me but I'm going to continue to research.

BP is such an amazing resource (shout out to @Joshua Dorkin and the BP team) with a great strategy of networking Real Estate folks and monitoring for "gurus" and the like who are looking to just take advantage of people and remove them from the site. In just reading through posts on the site, it is truly amazing to see experienced professionals helping out the inexperienced folks looking to get started or helping out in their early journey.

I'm looking to build my network of knowledgeable, successful Real Estate folks. I do not have a lot to offer other than a listening ear and a heart eager to to learn from folks with experience. I look forward to the connections and conversations here on BP. I wish everyone great success in their Real Estate ventures and dealings.