All Forum Posts by: Mat Canada

Hi,

I have a couple questions I would like to run by a lawyer regarding financing for a second home.  Anyone know a goo lawyer I can speak with?

Thanks,

Mat

@Kenneth Hynes

Thanks Ken.  I plan on using the same model for the next purchase.  I made two offers on the property before it was accepted.  The property had been on the market for awhile so after the seller rejected my first offer they waited a few weeks before we started conversations again.  

@Angel Rosado

I financed traditionally through a bank.  20% down, 30 year fixed to maximize cashflow. 

Awesome, I'll definintely check it out.  Thanks Scot!

Brandon, first thing to do is figure out your strategy. I am interested in buy and hold so I was focused on maximizing cash flow. I focused my search on areas I know well - downtown Chicago. I created an investment analysis spreadsheet where I could quickly analyze properties based on selling price, HOA, taxes, rent, and other assumptions. From there I had my broker pull all the listings that fit my criteria from the MLS and filtered out any "bad" deals. I visited the ones with potential and wrote an offer on my property.

Since I was focused on hitting a certain cash flow number, it was easy to decide whether to write an offer on a place or not.  If I wasn't going to make money, I wasn't interested.  

Getting the first one out of the way felt great!  Hope you decide to take the leap soon.

Hey BP,

I'm looking to connect with downtown Chicago area investors.  I would love to grab coffee or a beer and talk shop.  I live in the west loop and work downtown.  I would like to grow my network and meet some interesting people who share a passion for investing.  If you are interested in connecting let me know!

Cheers,

Mat 

Hey BP,

I'm interested in investing in Minneapolis but don't have any contacts.  I'm looking for a mortgage broker to finance my next deal.  Anyone on the forum have an excellent mortgage broker that does condo/townhome second homes?

Thanks,

Mat

Hey Everyone,

I'm extremely excited to share that I am an official Real Estate Investor!  I recently closed on my first investment property.  I was able to get a renter in 10 days early, AND was able to charge a higher rent than what I originally modeled.  I'm hooked!

On to the next deal....

Cheers!

Mat

Hey everyone,

I am a new member starting out in Chicago downtown. I am interesting in networking with Chicago area investors. I'm relatively new to the market and extremely excited to get started.

Please feel free to reach out, I would love to connect.

Best Regards,

Mat