All Forum Posts by: Matthew Masoud

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).

Not familiar with GA's laws but state laws always supersede a rental agreement.

Hello Theodor,

If you are not living in the property and it's used for investment purposes, you will be required to bring the 20-25% to the table, no matter who the lender is.

If you can't provide the funds yourself, your best bet is to partner with someone else who can provide the funds. You can find these individuals on bigger pockets, meetups, your local church/mosque, etc. Most capital partners will show interest but won't commit until you show them an actual deal.

Also, capital partners are hesitant to invest with someone that has no money in the deal. So save up and get some skin in the game.

Seller financing is hard to find but a blessing when you do.

Best of luck.

The market is certainly slowing down due to rising interest rates but there is little evidence that a bubble is coming.

People have been saying a bubble is coming since 2016.

Make sure you have a thick profit margin because we are expecting another rate hike during the upcoming fed meeting which will affect home prices even further.

Best of luck.

If you've had only 5 showings and no applications in 10 days, you may need to reconsider your price point. (unless you are in a low population area or you are not marketing effectively).

For my properties that are in landlord-friendly states, I don't mind month-to-month because I can charge a premium in rent (Market rent +$100) and I can get them out if I need to. Surprisingly they typically still stay for 12+ months

For my rentals in tenant-friendly states, I always go 1-year lease or longer.

 It was a great read.

After the past few weeks of looking for large multifamily I'd feel comfortable purchasing, I'm fairly discouraged.

I'm going to have to start focusing on off-market deals or potentially start looking at other kinds of assets as you mentioned. 

Hello BP community,

I'm starting to look for larger multifamily properties.

A common (surprising) trend I'm seeing is that people are selling their properties based on future (proforma) NOI.

How does that make any sense?

Here is a real example I'm looking at now:

A 10 unit property has a current NOI of $84,000. After some upgrades it will have an NOI of $100,000.

Sellers will price the property at the $100,000 NOI rather than the current $84,000 NOI. How am I supposed to make money on a value add property when they are selling the property at the price I'd get after adding the value?!

Is this common or am I just seeing this because this is an on market deal? Should I expect them to sell at current NOI or somewhere in between?

Thank you all.

Received a letter in the mail for a 6-unit I just purchased saying there will be a hearing against valuation?

The property taxes are high so I'm hoping this is a way to reduce them.