All Forum Posts by: Matthew Becker

Well, if you work in HVAC, you probably know other trades.  Lots of guys will do side jobs.  Find them and pay them more then there wage to hep you.  

I grew up close to Madison and know it well enough.  I live in a college town in Idaho, similar to a little Madison, more like the small college towns.  I would focus on value ad close to downtown and campus.  It can be as easy as buying an old house or turning a dining room into a bedroom.  I finish a lot of basement by tearing out the old HVAC systems that make it so you can't finish the basement, finish the basement and, add mini splits.  

I believe they are in the process of making new rules based on a little research.  April 2nd city council is discussing.  That will effect a lot.  You should be able to watch online 

Quit Claim into LLC. If you want to refinance, all you have to do is Quit and claim it back into your name. Refi and then Quit claim again.

Garn St Germain Deposity Institutions Act 1982. It allows you to put in a trust, which is better than an LLC, but no bank calls notes when you put in the LLC either. You can move back and forth and it will be fine.

It is very simple I have done it many times.  

 Yep have mom be a guarantor and run her credit as well.  

I would set up a separate trust for your rental. I hope this makes sense. Set up a WYO trust, Have your current Trust own the WYO Trust, and have each property in an LLC that the WYO Trust owns. This s mainly so no one knows who owes it because it is revokeable.

There generally would be no reason to have your LLC file as an S Corp in the rental world. But there might be if you sell the property your owner-occupied property to an S Corp, you can take the tax-free gain and then depreciate. Other than that, I can't think of a benefit.
I am not an accountant, but I have a really good one. If you need help, I can refer you.  

 Me too,  rates are low now they are below 7% you can make money all day at 7% if you buy right and work a deal.  

Local community banks

find one that has money they need to lend. 

It is dependent on their balance sheet.   Do they want to lend or are they not really interested

you can talk to one, and they will say 8, and the other will say 6.5

Try asking them about swap rates

Interest rates are not high.  Most people are not looking at data.  I just closed a commercial 1M at 6.25.   There was a very short period of time when rates where to low.  It made a lot of people who think they understand real estate money.  Now they can't make a deal work?   There are tons of deals out there that cash flow.  You don't need rates at 4 percent to make money. 

Quote from @Austin Wolff:

Quote from @Matthew Becker:

I build about 10x the rentals that I buy, and if I buy a rental, it is only because I can build on it.  You do get instant equity, and you don't have to fix anything for 10 years.  I build a lot of duplexes with 12 bedrooms and a common space.  Each bedroom is the size of a studio with a kitchette.  Not sure why I don't see anyone doing this.  

I am just finishing a 28 studios built in 2 deplexes.  Here is an example and I stack these 4 or 5 stories tall depending on zoning.  Full basement plus 4 with a flat roof keeps me under 40 foot 

 Thanks for sharing. Does that mean each unit per duplex has 6 bedrooms, 6 baths, and 6 kitchens?

 Buy Cose it’s only considered a bedroom. It has a kitchenett. In order to have a full kitchen you need a oven we put in convection, burners and auto fryers

So technically, they don’t have kitchens, but they do.  They’re very simple to build very cheap. You don’t need sprinkler systems. You don’t need separate metering. I can build them for about 100 bucks a foot.  So $40,000 unit and get $1000 a month in rent