All Forum Posts by: Matthew Gilbert

Hi All,

My Name is Matt Gilbert. I've been a member of bigger pockets for a few years now. I have a goal of buying at least one property this year. I'd like it to be a multifamily as I have the capital and the returns are better. I don't know where I pulled these numbers from but I had the idea of buying a 4-plex for around $750k putting $150k down and generating $4000 a month in cashflow. I liked this idea because ideally I can buy another one in three years, and then in a year an a half and so on. I set up some keyword alerts and the first thing I've noticed is my numbers seem to be a pie in the sky fantasy. I am now trying to figure out some realistic expectations of ROI.

I suppose if anything had a 33% ROI my rollover time table would work, but netting $1000 a month in cashflow would make the long term goal take much longer. I know this is asking a lot but is there a table or a guide that would show if you invest X your cashflow should be Y. I'm trying to figure out for example if I invest $150k what should I shoot for in monthly cashflow. Conversely it would be interesting to know how much I would have to invest to get say $4000 in cashflow. I know location plays a huge part in the equation, I am just trying to make sure when I run numbers I know if my deal is good or not. I know I look at things weird but I'm trying to make it all make sense and get a good deal.

Right now I live in Orlando, FL but may be moving to Gainesville soon. In checking listings in both those areas there isn't much that seems fit what I'm looking for, so I would be willing to invest in other parts of the state.

I also need to find a mortgage broker that as experience in lending to investors. Any recommendations would be great.

Thanks for the help and guidance.

Hi From Florida 

I know this question in some form or another gets asked frequently but I haven't found the answer I'm looking for so I figured I'd just ask it.  I'm looking to get my first property soon and I want to put it in a C Corp. I want to do this for two reasons: one is liability protection I have a business partner that has a decent net worth and a lot to protect and it would be good to shield her in this business. Secondly I don't want the income to be in my name. I have a reason for this, its not nefarious or illegal, I just want to keep the money in the business and don't want it on my personal tax return.  So the question is how to get it there.  I know I can't just simply transfer it because that would trigger the due on sale clause. Would any mortgage lender allow an already existing corporation purchase the property with a personal guarantee from my self and my business partner? would the personal guarantee for the note then make us more liable for any lawsuits that could arise from the property?

Any advise would be great. Thanks BP Community

Hi Bo Welcome to BP. I'm also a newbie in Orlando looking to get started in investing soon. Joining a local REI club can help with local networking, finding a local mentor, and learning about the local market, etc. Some offer classes with membership as well. I'm sure there are member of the REI club that aren't on BP and vise versa, it just helps cast a wider but local(er?) net. I look forward to hearing about all your adventures in real estate.

As far as I know you can, however you need a registered agent that lives in the state you are forming the LLC.

Thank you for the warm welcome everyone. I've watched a bunch of videos on the BP Youtube page and listened to many podcasts and read a lot of posts already, I have learned so much. I'm so happy I found this website that when looking at properties for my first deal I figure in a Pro membership in the expenses. 

Hi All,

My name is Matthew Gilbert. While I'm new to actually investing in real estate, I've been reading books and listening to audio programs on investing for years. I've only found Bigger Pockets a week ago and I've already learned so much.

I graduated law school a year ago and have been looking for a job in the legal field since. I've now started looking at real estate investing as another source of income while I look for a legal job. I've looked a 30 - 50 properties in the last week and found one that the numbers work really well on and I'm looking to make an offer sometime next week.

Feel free to ask any questions and any words of wisdom are always appreciated.