All Forum Posts by: Matt Fisher

I used to attend a meetup in Davenport when I lived in Iowa City... It's worth checking out, you should be able to make good connections! It was a huge benefit when I first started thinking about RE.

Welcome Rose!  Where are you located?

I think the best first step is to have a discussion with your local bankers. As soon as you have a sense for what you'd like to do (i.e. What types of RE, how you plan to rehab, etc.)  Schedule a brief meeting and see what the can offer and suggest.

Your hometown bank likely offers good financing options to those reinvesting in the community. My first meeting with the bank gave me a huge boost in confidence and knowledge!

Good luck! Wish I'd done the same at 26!

I'd be happy to take a look at it sometime-PM me.

The bath fan into the attic could do what you describe.

Scott,

This could be condensation. Our weather has been cold enough that it would be conducive, however over the last month, its posdible Rain could have intruded... any evidence of ice dams? Is the home humid?

Pics would help. Where are you located?

Regards,

Matt

I recently got a lead for a property that will go to sherrifs sale in a couple weeks. The homeowner owes back payments... How does one structure the back payments ito a Sub2 deal?

As a new investor, this hasn't been a strategy of focus, or I would have done more research. Its an urgent situation and advice would be most appreciated before I speak with my tax and legal folks.

For some reason the "@ Mentions" never want to work right for me... Really glitchy! PLEASE SEE MY ABOVE POST!

@Dev Horn

@Jonathan Godes

@Austin Faux

@Luis Vazquez

@Michael Pease

@Meghan McCallum

@Kenneth E.

So, I just found my BP notification in my junkmail...  Sorry for late responses and thanks for the replies!

@Dev Horn : Your advice about the buyers list is well taken.  I think I need to start to accumulate this... I grew up in rural Iowa and know that even small towns have a handful of folks that buy lots of local houses as Jonathan mentioned.  I am NOT using adwords to find these leads, but some SEO 'trickery'.

@Jonathan Goodes : Before I moved to Des Moines, I worked in Muscatine and had hoped to invest there.  I will let you know if I get eastern IA deals.

@Austin Faux : If you know of people doing rural wholesaling, I'd welcome an introduction. They seem hard to come by (and I was hoping I'd find a few by posting this!)

@Luis Vazquez: I think you need find a good attorney.  They can do this work for you or put you in touch with who they use.

@Michael Pease, @Meghan McCallum and @Kenneth E: I used to attend "Country's" Real Estate Investor Meetup in the QC and was surprised by the number of people working there!  I recently got a deal in Davenport, and worked with an old contact there.  I'd hoped to invest there when I lived in North Liberty, but alas, I'm now in DSM.

Corrugated Metal Roofing is designed for sheds where an occasional small leak won't destroy drywall and cause mold...  It is not acceptable for homes because the small rubber grommets on the screws are the only thing between water and your home's interior.  At least one of the thousand installed will be overtightened, which leads to cracking.  You will have a hell of a time finding a leak and repairing it.  I've encountered this numerous times...

Shingle-like metal may be another story, but I am still leery.  There is a reason that asphalt has been so popular for so long. It's a great product that's easy to install and creates a tight exterior envelope for a long time (if installed properly).

My friend recently set up some online marketing for me that is starting to develop leads from across the state of Iowa (I'm located in central IA/Des Moines).  This has happened much more quickly than we anticipated. Now I have to figure out how to assess these remote properties' condition and value! 

My original plan was to lock them up with a contract and then find local realtors to help find a local buyer and split profits (or something).  There aren't a lot of wholesalers in rural Iowa either FYI.  I'm not keen on putting something under contract that I don't think will sell. IMHO, its rude to the homeowner. I'd like to find a way to provide them a quick response regarding my interest, then get to work trying to sell it.

I would like to get other's opinions about this approach and hear from those who do remote wholesaling (or other 'true' investing strategies).  Likewise, I'd like to hear from realtors-how can I approach this respectfully and so that I can make the most of their time.

Thanks in advance and regards,
Matt Fisher