All Forum Posts by: Joe Matthews

@Kevin Sobilo I did intend to sell it, but when the market changed, it didn’t make sense to sell it. I would’ve lost all the money.

HELP!!!

I just finished my first fix & flip and I truly caught a falling knife. I closed last July just before interest rates rose and prices dropped.

I’m at the end of my Hard Money Loan term and I need to find financing for the house before August 1st.

My problem is this I believe it will appraise around $170,000 but I owe $151,575 on it which does not meet the banks LTV ratio.

We just signed a lease at $1,700 per month starting July 1st.

Is there anyone out there in the community that knows of some alternatives to get the financing done??? This is really hurting me right now and I need help.

I’m looking to refinance my first investment property in Chicago, IL What is the best way to shop the interest rates to ensure I get the best rate?

I just got my first investment deal under contract in Chicago. Who do you all recommend for Insurance on a fix & flip?

@Matthew Crivelli thank you, trying to get this ball rolling!!

I'm looking in multiple states to buy "flip & hold" . I want to buy under an LLC but have come to realize they are state specific.

How would I go about setting up an LLC so I can search and buy properties in several states under this entity? My states are Connecticutt, Ohio, Indiana, Wisconsin & Illinois.

When going through an out of state rehab whom do I look to oversee the day-to-day processes? Am I 100% in charge of overseeing this or should I be contacting and paying a Property Manager or would a Realtor be the one to oversee this.  I'm almost positive its a property manager I would need, but I just want to make sure.   

Thank you!!

I’m in the process of applying for a loan for my first investment property.

A lender just told me that Fannie Mae/ Freddie Mac require their loans to be under my name personally. They explained in order to purchase under an LLC I would have to do so under a commercial loan. Otherwise I could do a quit claim deed 6-8 weeks after closing and change the ownership to an LLC. I am new to this process and my question is what route do investors typically take when investing a property under a LLC.

The area is in Milwaukee if that matters in any way.

Thank you,

Joe Matthews

@Jonathan Klemm I have searches set in 60 counties in the US and the Midwest is where all my results to achieve my desired cash flow is coming from. I feel like Florida is great for appreciation but I’m out for cash flow which I’m finding is not as great in Florida compared to the Midwest

@Marcus Auerbach

Thanks!! I will take that advice!!