All Forum Posts by: Matthew Masoud

 Took me about 3 years. I was refinancing and flipping deals. For example I bough a 3-unit for $100k in 2020, fix it up, got market rents and sold it for 9 months later for $190k, took that and snowballed. This is just one example but I did this 3 or 4 times and kept rolling the money forward into better properties

Evenutally I had to partner with my brother -in-law to take down the 10-20 unit deals since the downpayments were large ($500k+) and I needed help qualifying for the debt

 Most of our unts are 1bed/1bath because we are so close to the hospitals we been focusing more on nurses than insurance companies.

Yes insurance companies typically prefer larger units but they still use our 2 bedrooms if they cant find a larger solution for the family. (beats getting two or three hotel rooms),

 Furnish Finder, Airbnb, and VRBO are great for under 10 units but eventually, you'll want to start building a relationship directly with insurance companies, hospitals, construction companies, etc to get direct bookings and keep your occupancy up. 

 Thanks my man. The biggest one would have been to go bigger faster. I spent a lot of time on the duplexes, triplex, quads. Not because I didn't have the funds to scale but because I was scared of getting into the "commercial" side of multifamily.

I find clients on Airbnb, Furnish Finder, and just now start contacting directly with insurance companies to house their clients in the case of a fire/flood/etc.

Thankfully evicting in the state of OH is fairly easy but we also take preventive steps to protect ourselves. Traveling professionals have to show documentation that they work for the company they claim and are on a traveling assignment. We also collect a security deposit.

This forum has done so much for me and I felt a bit guilty this afternoon for not giving back. 

Scaled to 48 Mid-Term Rentals in 2 years OH, hired a property manager and maintenance person. Quitting my job next week and moving to North Carolina to grow a portfolio there.

So Ask me anything, Mid-Term Rentals edition.

Most cases it's gross unless it's some kind of profit sharing.

This is the time to start considering your state's eviction laws. Difficult tenants make you spend more time considering the worst-case scenario. 

So in January, I purchased a 6-unit for $220,000 in the midwest. It was an all-cash purchase.

Rents were WAY below market at $450/unit. (that's why the low purchase price, NOI was garbage). Units needed upgrading before rents could be raised.

Spent $30,000 in total getting all the units rehabbed and brought units to market rents at $775. I also brought down expenses through operational efficiency.

As a result, I SUBSTANTIALLY raised the NOI.

Bank appraised the property at $340,000 and I withdrew the $250k I invested

The interest rate is a bit high at 6.05% but the property will still cashflow nearly $1,500/month after all expenses.

I essentially purchased this property for free $ 0 left in the deal.

Also under contract for a 10-unit that I plan on doing the same thing. Scared money don't make money!

I moved from SoCal to the midwest to do this so it feels good that sacrifice pays off.

We property manage short-term rentals in Kentucky and Cincinnati. Schedule a call.

Pretty sure they are just gonna run AirBnb or medium-term rental on your property and pocket the difference. You'd probably make more doing it yourself with a med/short-term property management company.