All Forum Posts by: Matthew Masoud

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*This link comes directly from our calculators, based on information input by the member who posted.

Tenants pay utilities. Major Capex items have been addressed in the past 12 months.

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*This link comes directly from our calculators, based on information input by the member who posted.

 Who said I can't perform? I got this property under contract with the full intention of closing on it and I probably still will. I'm just exploring my options.

I'm fairly new to wholesaling myself but from what I understand you must be the agent listing the property or have the property under contract in order to market it to sellers.

Pretty sure marketing property you don't own, are listing, or have under contract is one of the reasons wholesalers get a bad wrap.

Run your numbers and if it works actually place and offer and lock it up before you share it with your cash buyers. If you want them to take your offers seriously you actually need to have them.

Backstory: Long-distance investor/flipper with 17 units in Ohio

So I found a 4-unit in Ohio that I put an offer on. I did an inspection and it turned out this property was going to need a rehab before I could rent so I was able to negotiate pretty aggressively with the seller and get a huge price reduction.

As I'm setting up my schedule for next month, I realize I'm going to be a bit overwhelmed with all the projects in my portfolio.

So I thought hey, why not post it on local Facebook groups and see if I can wholesale this deal? I've never done a wholesale deal but how hard can it be?

I start getting interest in the property and people want to come see it. Now I feel kind of lost.

3 out of 4 units on this property are occupied so seeing the property can get kind of tricky.

Do I just tell my agent that I want to wholesale the property and need access?

Can I just schedule for all the potential buyers to come see the property at once?

What's next if I do find a buyer? We already started the paperwork with Fidelity Lawyer Title do I just let them know I'm wholesaling it too?

As I'm sure you can tell I don't know what I'm doing when it comes to wholesaling.

Any advice is appreciated.

Matt

 The reason I manage my own portfolio is that I’ve been through a handful of property managers that truly sucked. ever since I’ve taken over my own portfolio Ive significantly increase the Noi on all my properties.

So I purchased a 6-unit in January with the intent of BRRRRing it. Finally finished the rehab and got the units up to market rents.

Many of the new leases are 1-2 months old, is that going to be a problem when I refi?

Would the bank be concerned that most leases are only a few months old?

Also, this means that the NOI has jumped pretty significantly in the past few months.

Do lenders use new NOI or will they look at historicals?

New to commercial lending and looking to rely on the expertise of this subreddit.

I will be calling loan officers tomorrow for specific answers but I wanted to know what I should expect.

Hello BP community.

I have a 13-unit portfolio (Short-term and long-term) in Ohio that I've been managing from California. I'm building up pretty good systems where many of the issues take care of themselves (Basic repairs, rent collection, regular maintenance).

Many of my other friends that are invested in the area want me to manage their properties. I'm also moving there next year for some bigger projects.

Doing some research I discovered I need a broker's license in the state of OH.

Is there any way around this? Can I partner with a broker and work with him? 

I'd really like to take outside clients.

As always, any advice is appreciated.

The best state for rehabbing/flipping properties is the state you know the market the best.

I flip/rehab in Kentucky and Indiana because I know the markets there.

I would absolutely do that. It's the first thought I had once I read the first part.

If you don't want to charge them rent that's kind of you but you have the right idea. Take those steps to protect yourself.

I'd also add they need to leave the property in the same condition as the inspection (if you got one).