All Forum Posts by: Matt N.

@Ashley Glinka

I've always accounted for these items up front. Then all gross income goes into an operating account. All bills and expenses get paid out of that same account. Using your monthly statements you can compare and make sure you are hitting your cashflow number. You will likely make more than you expected if you estimated your expenses conservatively up front. Then sit back and watch the account grow! 

@David Chen

I agree with @Joseph Cacciapaglia and @Drew Sygit 100%

Check out my BIO. I have all the connections, from wholesalers to lenders, to PMC. When you're ready to work with an investment agent I am here for you. Happy to share/help. 

Best of luck!

Matt

@Peter Coles I might be able to help you get a construction only loan, since you own the land. But you first need to find out what it will cost to build your project, the timeline, and a true ARV value. If you can get me that info I'll shop this around to my lenders.

You will either sell or refi at the end of the project, pay back the lender, retain 100% ownership. But first, send me the info I mentioned above. 

Good luck!

Matt

Hi @Justin Moser

This is all I do. Full time investor here! Let's connect on this. Some background on me:

Buy and hold investor since 2013. Recently left my 9-5 job, living off rental income, got licensed so I can help others do the same thing!

- Are you looking for off market cash deals?

- Are you looking to finance deals?

- Are you looking to BRRR, buy turnkey... etc.

Talk to you soon brotha! 

@Justin Moser

I only buy in C or B areas and can definitely help you. I don't want to spill all the secrets here, so reach out please. I specialize in analyzing rentals and long term buy and hold investments. Remember, It's block by block in Philly. So what @Marc Knipe is saying, buying close to areas that are developing is key. Buy in the path of development and you'll get the appreciation bump. BUT never count on appreciation. ALWAYS buy for cashflow and hope for appreciation as a bonus. LMK if you want to discuss more. 

@Donald G Longenecker

I have a great guy for you. He's not on BP so I cant tag him here but send me a message and I'll connect you guys. Currently he's doing my taxes on a flip where my partner is in another country. He loves creative/different tax situations. TTYS. 

@Vashist D.

Hi! The short answer is YES.

Everyone is 100% correct here. Neighborhood and even the block matters. I've been investing in rentals for 9 years now in Philly and I live in the city. I am happy to help you out determining where and when, and what price to pay. Reach out to me if you need an agent who knows the rental market and the city very well.  

As far as the 50 year outlook on Philadelphia: Philly is the cheapest big city in the northeast if you exclude Baltimore. Compared to NYC, DC, Boston, etc Philly real estate is sold at a huge discount. Investors from those markets are pouring in, I work with them often. If there is a balancing of wealth in the northeast, Philly goes up, those markets go down. Its that simple. Its attractive for that reason. Initially you may have some trouble, but the city is appreciating very quickly and the neighborhoods adjacent to "nicer" areas are also becoming nicer. I want to say that Philly will be a better rental play than flipping. But that's just a hunch I have and is why I buy and hold as many as I can here. Hope this is helpful! 

@John Cervera

I am an investor turned RE agent and I certainly can help you find deals in this price range. Over the past 9 years I've been connected with TONS of wholesalers and they are a great resource. I'd be happy to share deals that I cannot pull the trigger on. Typically if I am mid-flip or low on cash I have to pass on deals that look great... and my friends are too bashful to get into flipping or buy and holds. Let's connect here. You're in a good position with your knowledge of trades, and with cash to purchase the ugly house. 

@Oliver Pilco. I own a building that I would like to add a billboard to. Who should I talk to? Ideally I would let a big company do it all and just pay me rent. This would be smaller, along a city elevated subway line.  

@Kevin M. Thank you! I was scratching my head! Why did they need to call it a CRS who thought that was a good idea haha.