All Forum Posts by: Matthew Swisshelm

@Anthony Cosgrove, I would agree with @Justin Fox . 

It all depends on what your needs are.

If you decide to take the lump sum by selling, you will have a much larger fund for portfolio expansion if that is your goal. 

On the other hand,

If you are looking to build long-term wealth and you don't need the CF then by lowering the duration of the loan and paying it off quicker, increasing your net worth shouldn't be difficult. Plus, you get a little extra cash out of it after the REFI that you can use to expand the portfolio in a slower fashion or enjoy with your family for now.

@Matthew Brand - Hey my fellow Matt, It's nice to see you active again!

There are a lot of factors that come into play here when deciding what you want to do for future growth. Your cash flow numbers don't look very forgiving of future expenses/unknowns. Also, I think we really should factor an additional cost just for managing at a distance. You mention one property already has been having maintenance issues, it will more than likely continue having them. 

@Andrew Wydra, I think you're correct in the Omaha market being pretty hot right now. Speaking to other investors and agents they are all in agreement on that one. If you were going to sell Matt, this would probably be one of the easiest times to do so. 

@Ethan Hamilton is a good resource as well, I know he was a big help when I first moved to Omaha, NE and continues to be a resource today.

I hope things go well!

-Swiss

@Esteban Salazar - They are the third Monday of every month. The next one is this upcoming Monday, actually. First timers fee is $10. After that its $20/m unless you become a member and then it's $60/year.

Here is the link to their website:

http://www.omaha1reia.com/home

They are also on Meetup:

http://www.meetup.com/OmahaREIA/events/226529881/

I hope to see you there!

@Aaron Impens - I'll be attending Lincoln's meeting next month as well!

-Swiss

Welcome to BP @Kerrie Batchelder!

This place is a wealth of knowledge. You can check out the podcasts they have done with successful wholesalers to get good ideas.

Welcome to the party, and good luck!

-Swiss

The 2/50% rules are more like easy to remember guidelines that a lot of people like to use, they are NOT rules that are set in stone. Some markets they really can get these types of numbers. Real Estate being such a localized thing your area may not be able to support them. Like @Antonio Esquivel mentioned about the bad areas in Omaha. You could make them happen, but you would pay for it through other means I'm sure. It really comes down to knowing your market and creating your own set of guidelines. If you know that houses in the area you like will only rent for 1% of their purchase price, but it's in a great location that you really like, and it works for your business model then your rule would be 1% not 2%.

I hope this helps @Matthew Brand!

-Swiss

@Jared Olson - I would have to agree with @Dennis Tierney on this matter. I was originally looking for MFRs to house-hack when I first moved up here and had to settle for an SFR with roommates. It's worked out great, but I've kept my eye on MFRs in the area.

-Swiss

@Ryan Lawson - Welcome to BP. Omaha is a great place to get into REI. With your experience as a property manager you will definitely have a leg up on most when starting out.

I can't wait to see what you accomplish, keep us posted!

-Swiss

@William Strong - unfortunately, I missed the meeting on Monday, but I've been to quite a few of them over the last year. 

I completely agree with what @Kyle Godbout was saying about the just getting started in wholesaling crowd. Depending on what you're looking for there are plenty of other investors who specialize in different areas. You just have to work the meeting and find them.

-Swiss

Hey @Account Closed

Welcome to BP! ((in my head that actually rhymed))

This is probably the best single resource you could have found for RE Investing. Congratulations!

What kind of investing are you looking to get into?

-Swiss

Just wanted to thank everyone for coming. I know I learned plenty and personally took away much more from Wednesday's group then I thought I was going to!

-Swiss