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All Forum Posts by: Matt Crusinberry

Matt Crusinberry has started 2 posts and replied 308 times.

Post: How can I buy property within my own money?

Matt Crusinberry
Posted
  • Hollidaysburg, PA
  • Posts 327
  • Votes 350

@Ro Young, I would recommend reading "The Book on Investing in Real Estate with No (and Low) Money Down" by Brandon Turner. This should get you moving in the right direction, and good luck!

https://www.biggerpockets.com/...

Post: Military Active Duty investors

Matt Crusinberry
Posted
  • Hollidaysburg, PA
  • Posts 327
  • Votes 350

@Alissa Engel, That's a cool story... I wrote you a private message as I would like to keep some of the info close hold. Thanks for your input and stay safe.

Post: Military Active Duty investors

Matt Crusinberry
Posted
  • Hollidaysburg, PA
  • Posts 327
  • Votes 350

@George Walker IV, I do think you can do some amazing things in RE from the military's perspective. Being in the mil town alone will work in your favor. If you're stationed at a base where there are schools that soldiers have to attend, they all get paid per diem. I would be glad to give you some info, and what to look for if you want to move in that direction. Good luck!

Post: Military Active Duty investors

Matt Crusinberry
Posted
  • Hollidaysburg, PA
  • Posts 327
  • Votes 350

@Justin Tahilramani, You're like a contradiction of terms... You don't have time to argue the point, but have time to post that you don't have time (officer???). My initial post to this question was in regards to it being tough all over. Every single person out there is going to have an issue in one way or another. While you took it as a negative, I was attempting to present it as "It's more than possible and rewarding," with risk mitigation. Along with, "Hey reach out to me and I would love to give you pointers and show you the benefits." You're comments have added zero value, but thank you for giving them! Please feel free to PM me yourself, as I will make time to have this discussion with you. Thanks

Post: Military Active Duty investors

Matt Crusinberry
Posted
  • Hollidaysburg, PA
  • Posts 327
  • Votes 350

@Justin Tahilramani, I don't know what unit your in, or what past units you were in, but it doesn't work like that for SOF guys. I was in 5th SFG and I put 13 years in the community. We don't move around that much as reg. army, or so I'm told (or based off of your response). I also spend more time down range than I do in the states and continue to build my portfolio. So, please tell me how it works!

Post: Strategies on pulling equity out of current homes

Matt Crusinberry
Posted
  • Hollidaysburg, PA
  • Posts 327
  • Votes 350

@Matthew W., Usually banks won't count the profits from your rental either until after 24 months. The HELOC shouldn't affect your credit until you use it, and thus the juice starts. The way to use your money is to BRRRR. This will allow you to pay your HELOC off each time after use. The difficult part would be you finding a deal where you can buy in cash, repair using cash, and then refinance it into a long term loan. Thus you get all your funds back to pay off your HELOC, and you now have another property. You continue to do this until you hit the next road block. The bank is more inclined to invest in a deal that you own vs. a deal your applying for with 20% down. I hope this helps a little, and good luck in your future dealings!

Post: Military Active Duty investors

Matt Crusinberry
Posted
  • Hollidaysburg, PA
  • Posts 327
  • Votes 350

@George Walker IV, While I appreciate your service, your employment to the US Gov doesn't hold any more water than those that work other jobs and are doing deals. I will say, the one benefit that you'll have is the VA loan and your ability to use it for a house hack. You may want to search this strategy out first, as you continue to learn the ropes. PM me and I would be glad to give you some pointers as well as the benefits if you decide to have rentals in a military town, or you can search them out here on BP. Good luck!

Post: I want to take action but I have no contracts to do the deal

Matt Crusinberry
Posted
  • Hollidaysburg, PA
  • Posts 327
  • Votes 350

@Account Closed, You may want to search one out in the next city over. Good luck!

Post: How can I tell the "Market"?

Matt Crusinberry
Posted
  • Hollidaysburg, PA
  • Posts 327
  • Votes 350

@Damonta Samuel, There are several markets within each market (e.g. commercial vs residential). I personally believe you can buy in any market and be profitable; however, it falls into buying right. I'm starting to see most people seem to be playing the market in regards to appreciation, which in turn is essentially gambling in my eyes (although, some markets require it for a profitable outcome). While you may be able to identify certain thresholds within different areas, you're still increasing the risk. If you buy right and take appropriate precautions (i.e. risk mitigation), I don't think this will be an issue. As Joe Fairless talks about in his book: buy for cash flow, have reserves, and take long term debt.

I hope this helps a little, and I'm sure there are plenty of BP members that have extremely more knowledge than I do that would be able to give some further guidance. Good luck in your future endeavors.

Post: Cashflow Question whats a minimum to aquire

Matt Crusinberry
Posted
  • Hollidaysburg, PA
  • Posts 327
  • Votes 350

@Azzeaz Saleh, You could also do a rent-own with an option to buy. You may want to look into this strategy as well. On a positive note, you now have a property under your belt and you probably learned a lot. Also, there is no minimum amount, it's whatever your comfortable with. Although, I will say that you're not leaving yourself a lot of room with $63. 

In saying that, I don't know all the factors you have considered for this property in regards to pulling out expenses either (i.e. repairs, cap ex, and vacancy). And I don't know your market or the property's ability to appreciate over time, or the probability. These are some things you may want to consider as well, and good luck!