All Forum Posts by: Matt Hanson

My business partner and I are considering investing in a MFH. This is our first purchase as a partnership and neither of us own our own homes. As a result, our credit scores are good (we both have an excellent history of paying our bills on time) but not great (due to a lack of installment accounts and insufficient mortgage information.) Both of us have good income streams from our jobs, but cannot afford to buy homes near our jobs in San Francisco.

If we purchase a MFH as a partnership, will banks require more than 20% down due to our lack of home-buying experience? And if we do buy the property, will our individual credit scores benefit from the on-time mortgage payments on the property?

I looked for the answer to this question in the forums, but could not find one that fully answered it. If anyone has a link to such a forum post, please comment with the link. Thanks in advance!

In State / Out of State?

Open to both. I would prefer to invest in-state but outside the Bay Area. Ultimately, I am more interested in making smart investments than in making convenient investments.

Strategy?

I am still in the education phase and hope to speak with many different types of real estate investors at this event.

Type of properties?

MFH income-generating properties. I am also interested in learning about subdividing and rezoning SFH properties.

Looking for?

A chance to network with local investors. My business partner and I are beginning to understand how many specialties exist within the umbrella of real estate investing; we want to talk to as many investors as possible in order to get a sense of which niches are a match for our goals and constraints.

Can offer / knowledgeable about?

At the moment, I can offer hard work and technological expertise. I am working a full-time job, but I am spending an additional 25 hours a week learning as much as I can about real estate and business. I will be able to contribute more and more as I work towards my first purchase.

Looking forward to this event and to meet you all.

Matt

@Ben Leybovich : Thank you! I look forward to speaking with you on the forums.

@Brandon Turner : It was one of your articles that turned me on to BiggerPockets. Thank you for that and for the introduction!

@Robert Musallam : Thanks, you too!

@Account Closed : Good luck to you as well! My business partner and I are both just starting out. We meet up several times a week at coffee shops to teach each other about what we've learned; let me know if you ever want to join us or if you want to borrow any of the books that we've picked up.

@Joel Owens : I want to become well-versed in SFRs and then begin the process of trading up to MFRs and ultimately commercial. Thank you for the introduction and I look forward to speaking with you on the forums.

@Joshua Dorkin : Thank you for the kind words! I have started listening to the podcasts during my commute and they are already proving valuable.

@Andrew Fingado : That sounds fantastic, I'll make it if the timing works out. Can you post a link with event details?

I am a young professional living in San Francisco, but I would strongly prefer to buy my first property somewhere other than the Bay Area. I know that there are bargains to be had near where I live, but many of them require down payments that I either cannot afford or are not justified in this boomtown economy. I am young and green, but the more I read about real estate investment, the more appealing it becomes to me. REI began as a curiosity, is currently a passion (well, the research is) and I hope to make it a career one day.

My business partner and I are looking to exercise our creativity in the real estate market - I could not be more excited about an online community than I am about Bigger Pockets. Thank you in advance for all the advice, mentorship and resources.

Matt