All Forum Posts by: Matt Bishop

@Ryan Mulder, you may consider engaging with a great, professional property manager who represents your interest. I think you will find them to be worth every penny.

@Ben Cochran, recession? I believe we are in for prosperity.

@Shane Pico, negotiate better loan terms and follow through with the purchase is an option. Refinance in two years if you can get better terms. I would hate to miss out on the opportunity to purchase a house.

@Benjamin Schwartz, you may want to also weigh which cities are growing and are attracting fortune 500 companies with lots of high paying jobs. Keep abreast of what our Billionaire business leaders think (Elon Musk) are planning. I believe most of the upper income earners are more and more going to be living in large, fast improving, growing cities with a bright future, not the American Midwest. Appreciation and rent rate growth are, in my opinion, the true path to wealth.

@Vanessa Hammonds, do I understand you are about to go into the new home construction business? In Dallas, TX? Then sell the home once it's built?

@Joshua Melendez, I get the feeling at best, he is not working for your best interests. He has divided loyalty.

@Sammy Brooks, I would hold on. If you sell now, you will only net about $40K after taxes and that would be all spent before you know it. You have a great interest rate on your mortgage. You will regret giving up your mortgage. Rents will rise. In four years, you will be way, way ahead if you stay the course.

@Dillon Brooks, I believe you should stay and enjoy living in SoCal if you love it there.

I have been buying new construction Single Family 4/2/2 brick homes from a nationwide builder when they announce a Grand Opening. Example : I purchased two 4/2/2 19000sq ft, rents are $2800 /mo. Put down $10,000 refundable deposit and signed $330,000 purchase contract on February 1, 2021, closed on completed house April 1, 2022. ( same model in this subdivision on closing date is was selling for $430,000. Gonna lease it for $2800 per month for two years and then decide to sell it for $600,000 or raise the rent to $3200 and keep it two more years and see what the market guides me to do. I have done similar scenarios multiple times over the years. This plan seems to be a better use of my time than fix and flip. No unexpected surprise costs or hard work on my part. As a matter of fact, I purchased the last one in Hilton Head from my home in Texas with my cell phone. Docusign and wire transfer. I'd love to hear your thoughts.

@Jay Hinrichs, I believe just about any real estate is a good plan. Gosh - darnit, I love it!