All Forum Posts by: Matt Musser

I am available to do a variety of odd jobs in Abq. If it's outside my skill level I know professionals that can do it. For non-local investors, I will take pics/video and go through the scope of work with you. PM me for more details.

Thanks, Matt

A lot of these lower income properties have higher cap rates because you have to deal with the problems that historically come with lower income tenants. As long as you are prepared for these issues and have a process in place the numbers look good.

It all depends on your long term goals, but if it was me, I would definitely get a mortgage on the property. You can get a 15 year if you want to be more aggressive and make sure you get a loan with no early payment penalties. That way, if you decide to pay it off after 6 or 7 years you don't get penalized.

A quick nickel is better then a slow dime... 

Nick,

I think another topic the podcast can hit on is the benefits military members can add to a team. Specifically, the RE market around bases, overseas RE investment opportunities (tons of potential) and the skill sets military members have. With only 1% of the population having served, the general population may need a refresher on how easily leadership skills transfer to the private sector. If anyone wants more details, PM me.

Tyisha,

I get on the county assessors website and find out there name to personalize the phone call. Its amazing what you can find on the Internet...

Steven,

In my experience, the time spent dealing with banks could be better spent finding owners that are looking for creative ways to sell their house. The trick with driving for dollars is to find the properties before they get to that point.

Bruce,

I'm currently active duty AF and recommend a 1031 exchange to consolidate your properties. This will help you be able to purchase a larger multi family in the area you are looking for. I think it's great to stay in a market you know.

Nic,

Getting to yes is my favorite book on negotiating. It goes through mistakes people make and ways to maximize both parties values.

Matt

Wendell,

I had a rent to own contract signed on one of our properties for 3 years and after 2 years the payments stopped and had to ask them to leave. After 3 months we finally got them out. Things I learned: Have at least $5,000 as the down payment and charge a premium on the "asking" price. Make it VERY clear in the contract what happens if they don't pay. I would also only execute rent to own contracts for a year instead of 3. These are mistakes that we made. 

Matt