All Forum Posts by: Matt Heerwald

Thanks @davidthompson that was a really informative piece you sent me. I learned a lot! I guess the next step is analyzing several deals to get comfortable with the lingo!

Thanks @miledymski, I’ll take you up on the deals that you’ve passed on. I need experience analyzing them so that I can get familiar with the financing, terms, etc like I am with SFR’s. I am not necessarily tied to the local area for the long term, but I know this market better and thought I’d find local investors to start with. This is new territory for us, so we’re looking forward to getting started!

Hi! My wife and I have just sold a piece of one of our properties and have a significant chunk of cash to invest. Our goal is to maximize our Cash on Cash return and to hopefully put ourselves in a position to replace my wife’s income($55k/yr after taxes) in about 18 mos. We like the idea of investing in an apartment complex but to this point, only have 3 SF rentals and lack the experience of undertaking such a large project. We would be interested in partnering with experienced investors with a good track record of syndicating value add MF deals. Anyone have any recommendations of other investors looking to do a syndicated deal? Thanks! Matt

@Whit Ewen it was great meeting you last night too, and everyone else!  It really was a mixed bag of investors, and aspiring investors and I got a lot out of the discussion.  Having talked with the city, builders, bankers, attorneys and cpa's, I think if we go the build route, we would get the plans, submit those to the attorney who would draw up a condo regime, and then secure the financing to build.  If we are able to clear $500K in profits before capital gains kicks in, then I am much less concerned about selling it before our 2 years of occupancy in it over the past 5 years runs up.  And to your point of being able to cut and run by selling it as is, yeah, we wouldn't have to get our hands dirty and spend a year developing the property and realize a significant profit thats not far from what we would get from the build out.  I also would value the process of doing the build, it would be a huge learning experience and I'd meet people from all sides of the process, so that is also not lost on us either... 

Thanks for the advice, and we'll talk soon,

Matt

Thanks John-yeah, we will be needing some financing for sure!  We will also be looking at private money for the rest of the loan.  We're going very high end to maximize the potential of the property, and that ain't cheap!  Thanks for your info!

Great advice Ronald!  I'll check that out.  I'm meeting with a couple different architects/builders this week and I'll make sure that they are covering all the bases, but they do these projects all the time in this location and I think they will have their ducks in a row!

Hi fellow investors!  My wife and I, in our spare time, have started a small sf real estate business over the last 2 years.  We have 3 properties and are looking to scale up so that we can afford to quit the rat race.  Our first property is a 780sf house in a really hot area and its sitting in the back corner of a 1/4 ac.  We are exploring the idea of setting up a condo regime, and building a large(3,000sf) condo and selling it(or refinancing and renting).  However, having never built and having a limited amount of cash on hand, we are trying to figure out how to finance the deal and how to choose an architect and builder.  Any advice or connections is extremely appreciated!

Thanks!

Matt & Mary

Hi Eric, I plan to attend on Thursday with my wife, assuming her schedule permits.  We own a 1/4 acre in 78704 with a 780sf house and room to build a large condo.  We're hoping that this property could give us a large(to us) profit that will allow us to scale our real estate business.    Looking forward to seeing everyone there!

Hi, My wife and I just had an offer accepted on our second rental house and we'd like to set up an Llc for them. Does anyone have any recommendations for an Attorney?  An investor/CPA would be great as well!  Thanks!  Matt

We had an offer accepted on a little 2/1.5 in the area.  There are still big plans for the development of the area adjacent to the street.  We're going to do a little work to the place and hopefully get some young and vibrant renters in there soon!