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All Forum Posts by: Zach Matson

Zach Matson has started 12 posts and replied 32 times.

Post: Rental Analysis Data?

Zach MatsonPosted
  • Developer
  • Boise, ID
  • Posts 33
  • Votes 22
Quote from @Bill Le:

Hey Zach, 

I tried to look into this as well before and it's kind of all over the place. There's no true data source that aggregate all the data that you look for (at least to my knowledge). That being said, I'm a big fan of Zillow Housing Data. It will provide you with zip code level of market rents, rental demands per metro markets. I see that you're a developer so if you were to build apartments instead, you might want to look at data specifically for apartments instead of lumping in houses/townhomes. Zillow has all of that and it's free! 

https://www.zillow.com/research/data/

Wish I could say I'm sponsored by Zillow but sadly, I'm not. I am very impressed with the data that they provide though. 


 Great, thank you! I'll check it out! 

I did find some good data on city-data.com that I had forgotten about. And a PM friend of mine pointed me towards NARPM. But your info is helpful, I'll check that out! Thank you! 

Post: Rental Analysis Data?

Zach MatsonPosted
  • Developer
  • Boise, ID
  • Posts 33
  • Votes 22

I'm doing some diligence on a property that has an existing duplex, but I can build a small apartment complex on the same lot. Does anyone have some really good websites for accurate up to date data for vacancy rates, median rents, average household income, etc? Ideally broken down to the city at bare minimum, but even neighborhoods or zip codes would be even better. 

Post: Financing for an ADU?

Zach MatsonPosted
  • Developer
  • Boise, ID
  • Posts 33
  • Votes 22
Quote from @Mike Grudzien:

Zach,
Even private money doesn't like 2nd position.
My 2-cents,
Mike


 Yeah, was thinking more along the lines of close circle private money(friends and family). I personally work with private money a ton in my development deals and most are in 2nd or 3rd position but have lots of equity and established relationships. 

Just trying to see if anyone knows of another product out there. 

If it helps, 800 credit score and theoretically could build for cash...but cash is earning more and doesnt want to tie up the liquidity.

Post: Financing for an ADU?

Zach MatsonPosted
  • Developer
  • Boise, ID
  • Posts 33
  • Votes 22

Does anyone know of a financing option for somebody that wants to build an ADU on an existing property?

The tricky part to this transaction is the house was just purchased this year with a VA loan, so there is no equity. There will be equity(but not a lot), and cashflow, when the ADU is finished, but there doesn't seem to be any construction loan options that take 2nd position.

Is anyone aware of anything? Or is private money basically the only option?

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Boise.

Purchase price: $165,000
Cash invested: $50,000

4 bedroom home with a 1 bedroom apartment attached. Originally bought as a house hack. Currently live in and work out of, but will be moving out this year and renting both units as short term rentals.

What made you interested in investing in this type of deal?

Originally back in 2015 I was looking for a 2nd duplex that I could house hack and live in one unit while the other unit paid the mortgage. This one didn't quite do that, but the 1 bedroom apartment paid half the mortgage while I lived in the 4 bedroom house for $500 a month and fixed it up. I knew once it was fixed up and both units rented it could cashflow over $1000 a month.

How did you find this deal and how did you negotiate it?

On the MLS back in 2015, used an agent, before I was licensed myself.

How did you finance this deal?

Conventional Mortgage 5% down and 4% interest rate.

How did you add value to the deal?

Renovated it.

What was the outcome?

I ended up living here longer because I got into real estate full time and didn't have the energy to finish fixing up, but moved out a couple months ago and it's almost ready to rent out as 2 units for Airbnb's or mid-term. I'm currently doing a cash out refinance and taking about $300k in equity while leaving equity on the table still so that it cashflows whether it's rented out long term, or as an a short term.

Lessons learned? Challenges?

This was a really good buy back then and super glad I took the risk, even though I lost my job 3 months after buying. Still made it work and has been a good investment and the value skyrocketed. I'm now taking out cash and funding the rest of the fix up, as well as going to gain significant cash flow.

Post: Daily Schedule and habit/goal tracker for entrepreneurs

Zach MatsonPosted
  • Developer
  • Boise, ID
  • Posts 33
  • Votes 22
Quote from @Clara Arroyave:

This seems interesting as I am already have implemented the 12-week year into a Notion Template, but I feel that is not well integrated with my calendar and other systems. Happy to give it a try. 


 Sent!

Quote from @Sarah Davis:

Good afternoon,

I've dabbled in real estate investing, a couple of flips, a short term rental, etc. I just sold off my STR and was looking for other ways to invest. I found a great piece of property - off market. Perfect for a SFR. Not in an HOA community. I don't have the cash to build a spec home on it, but I could purchase the property and advertise it with a spec home for sale. I have a builder that is willing to do the build once buyer purchases. There are a few people in my area that do this. I wanted to reach out to a broader community and see what your experience has been with this and if there are any "Need to Knows" before I get started. Also, how profitable has this been for you?

Edited to add: I am also a licensed real estate agent and sell real estate full time

Thank you!


 I've sold spec homes off renderings when the market is hot. I haven't really attempted since rates increased, but I'm about to on a few homes. It's tough because people don't have very good imaginations. So your renderings need to be on point. When I did it the first time we paid $3000 per house to have photo-realistic renderings made that incorporated all the finish selections we made. If you just put plans up with no good renders, plan on sitting on it for a loooong time. 

Post: Daily Schedule and habit/goal tracker for entrepreneurs

Zach MatsonPosted
  • Developer
  • Boise, ID
  • Posts 33
  • Votes 22
Quote from @Jen Menchaca:

Hi Zach, I’ve recently purchased a planner that is very similar to this. I’m just beginning my investing and goal setting journey. I’d love your digital version if you wouldn’t mind sending. Thanks for creating and sharing!!


 You bet! Shoot me a message with your email address and I'll send it to you. 

Post: Daily Schedule and habit/goal tracker for entrepreneurs

Zach MatsonPosted
  • Developer
  • Boise, ID
  • Posts 33
  • Votes 22
Quote from @Justin Brickman:

You killed it with this spreadsheet! Could you email it to me as well? Would love to try it out - Will DM you my email!


 You bet! Sent!

Post: Daily Schedule and habit/goal tracker for entrepreneurs

Zach MatsonPosted
  • Developer
  • Boise, ID
  • Posts 33
  • Votes 22

I've created a daily schedule and habit tracker that fully aligns my daily habits and tasks with my longer term goals. I'm able to start with my annual goals and break them down quarterly, then into monthly and weekly tasks, then down to daily habits and tasks. I've been using this for years to some extent, but this version is and will be multitudes better at helping me achieve my goals. Every time slot during the day has a purpose... even if that is just free time, social time, family time etc. A few of the principles I've learned over the years that have contributed to this set up:

1. Time blocking - The calendar is set up in 15 minute periods, but most of my day is blocked off into large chunks of these periods. 

2. The One Thing (book by Gary Keller). - What's the ONE most important task you can accomplish during your day that has the largest impact? I assign my daily tasks (1 business and 1 personal) to account for 50% of my task points for the day. I'm a busy entrepreneur so I always have many things on my plate, hence the multiple tasks, but I can feel good about my day if I check off those 2 things.

3. Psycho Cybernetics (book by Dr. Maxwell Maltz) - One underlying theme in this book is that our subconscious mind is a powerful force. But, it also doesn't distinguish between positive and negative statements. So, if I want to get rid of habits, it's more effective to create good habits to replace the bad ones. If I want to eat healthier, I assign more points to the positive habit I want to focus on, but also reward myself for NOT doing that bad habit. Or, if I want to STOP using Facebook wastefully, I make it a goal to maximize my social media use to grow/build my business and give myself points for that intentional use. Another principle is
that you can train your brain to work for you while you sleep. Reading right before bed can not only be relaxing, but also lets your brain go to work for you while you sleep. I also write down positive phrases I want to repeat throughout the week, as well as a bible verse I want to reflect on. 

4. Goal setting: Lots of different sources - using the well-known S.M.A.R.T. goal system for setting goals. And, most recently adding a method Brandon Turner introduced to many people for organizing thoughts and brainstorming goals(Outcome goals), then breaking those down into habits and actions(process/action goals) to accomplish those outcome goals. It also incorporates all the major life areas, so you can build your life to achieve your goals in all areas of life. I took what I learned from Brandon's goal setting seminars and applied them directly to this daily calendar and habit tracker. 

5. The 12 Week Year (book by Brian Moran)- I just recently listened to this as an audiobook, but realized that this calendar already very much aligns with the system they talk about in the book. This calendar is gamified(points) and has a system of tracking those points. The one modification I made to this schedule while listening to the book was to write down my quarterly goals on the daily tab instead of my annual goals. I still have my annual goals and everything is focused on achieving those, but they are broken down further into quarterly goals and once the quarter is done we reset and start on Q2 goals.


I'd love to share this with anyone who is interested. I've already begun emailing it out to people in my circles that were interested, and I'd love to find 1,000 people or more this year that could really benefit from it. It's totally free, and you'll receive instructions on how to set it up the first time, as well as reset and plan your day each day in less than 15 minutes. I also plan on creating a phone app this year that further simplifies the sytem. If you'd like the download shoot me a message with your email address and I'll send it with the instructions. I'll also start creating some videos on how to best use it in the coming weeks.