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All Forum Posts by: Tom Matousek

Tom Matousek has started 7 posts and replied 40 times.

Post: Property under contract and tenant won’t allow showing

Tom MatousekPosted
  • Rental Property Investor
  • Western NC
  • Posts 41
  • Votes 40

While the responses are entertaining, I think the bigger picture here is someone ambitious tried to pull the trigger a bit too early. After realizing he was over his head he naturally tried to capitalize on his efforts. Last I heard, mistakes are great lessons.

Post: Multi-family Fire Codes in NC

Tom MatousekPosted
  • Rental Property Investor
  • Western NC
  • Posts 41
  • Votes 40

@Jason E. Smith

Sorry for some reason I didn’t receive a notification about the responses and thank you! I’m in contact with a few licensed contractors at the moment. I agree with what you said. I don’t want to bring to much attention to it for closing purposes but would like to have it replaced correctly. For value and cost I think it would be better suited as a balcony. Any insight would be greatly appreciated!

Post: Greetings from the south

Tom MatousekPosted
  • Rental Property Investor
  • Western NC
  • Posts 41
  • Votes 40

I will be visiting New York City over the weekend and wouldn't mind utilizing the opportunity to network with a few fellow investors from up north. If you're free one evening and would like some personal insight on select towns in western and central North Carolina feel free to reach out! 

If this is not permitted, please remove.

Post: Need a Land Loan Lender in Western NC - Land costs more than home

Tom MatousekPosted
  • Rental Property Investor
  • Western NC
  • Posts 41
  • Votes 40

@Mark Huneycutt

What part of western NC if you don’t mind me asking? With that amount of land you should consider logging it to cover the purchase. I’m not familiar with the timber market currently but my neighbor recently received about 1.5 to 2k per acre.

Post: What would YOU do if you have a large sum of money?

Tom MatousekPosted
  • Rental Property Investor
  • Western NC
  • Posts 41
  • Votes 40

To be honest I'm not entirely sure. There's piece of mind owning something tangible. Perhaps go through the process of forming an LLC for whatever you decide to get into. Set up a bank account and operate through the company. The connections made along the way can avoid a lot of speed bumps when opportunity strikes. I just received the paper work for my first LLC a few days ago but wished I would've done it much earlier.

Again, take my advice with a grain of salt. I know I'm still naive. The only concrete advice I could give your friend is too seek the LLC. Definitely speeds up the learning curve and builds the team.

Post: What would YOU do if you have a large sum of money?

Tom MatousekPosted
  • Rental Property Investor
  • Western NC
  • Posts 41
  • Votes 40

@Jonathan Yeh

Just starting out myself but in that situation I would:

Network but keep quite about your resources

Keep my guard up

Educate myself about syndications

Learn how to vet a good deal in said market

Find a killer opportunity in your new circle that’s about to collapse due to funding.

Swoop in with a small percentage of of your resources.

Learn from the boat load of mistakes.

Uses those lessons to knock the next one out of the park.

Perhaps I’m regurgitating dozens of optimistic books but seems like you’re already headed in the right direction.

Oh and not get into the stock market.

Post: Multi-family Fire Codes in NC

Tom MatousekPosted
  • Rental Property Investor
  • Western NC
  • Posts 41
  • Votes 40

Working on closing my first four-plex in Western North Carolina and there's one issue I can't seem to find a concrete answer for. The top units have stairs that exit out of the back. In short they are functional but need a fair amount of repair. The neighboring units have blocked off that exit and removed the stairs entirely. Anyone familiar with NC fire-code specifically Burke county?

Post: I found the deal, presented it to a partner...now what?

Tom MatousekPosted
  • Rental Property Investor
  • Western NC
  • Posts 41
  • Votes 40

@John James

Working on my first MF as well so take my advice with a grain of salt, but selling out doesn’t achieve your goal. I’d say negotiate the best deal you can.

Post: Beginner Handyman tools

Tom MatousekPosted
  • Rental Property Investor
  • Western NC
  • Posts 41
  • Votes 40

Everything pex...

The 5 dollar harbor freight organizers for fittings

Repeat with every other category

Learn to do the work

Train someone else to do the work

Post: Green investor - Western North Carolina

Tom MatousekPosted
  • Rental Property Investor
  • Western NC
  • Posts 41
  • Votes 40

@Chris Reynolds

Welcome to BP. Seems like you’re on a similar path as myself. Nice to see someone else from the manufacturing field. Feel free to reach out!