All Forum Posts by: Matthew Choi

Hello,

If you're reading this and looking to network and get started in real estate, you're more than welcome to join us in the REI Marathon MeetUp at the Yardhouse in Rio at 6:30 PM. This is a free networking event to meet like minded individuals, investors, brokers, and agents in the local area. Feel free to stop by and bring a friend!

Look forward to seeing you there!

Thanks,

I appreciate your candor on this subject @Mitch Coluzzi, and thank you for the words of wisdom. In your experience would you be able to lend any referrals that you know are reliable and trustworthy. Please let me know if you come up with any contacts that you would trust.

Thanks,

Hello,

Does anyone know any solid general contractors in the Des Moines, Iowa? I am hitting a wall and could use any suggestions from anyone.

Thanks,

Hello @Joe Scheffold

Congrats on finalizing your out of state markets because in the MF investing space sometimes you cannot invest in your backyard. When my business partner and I decided to move into the MF space we finalized 5-6 emerging markets that we thought were growing or had potential growth opportunities. There are a lot of things to look at when choosing a market like population, population growth, unemployment rates, employers, job diversity, and supply and demand. After you do your research and you find the best market that fits those criteria I think you will have a better idea on where you want to invest in and then from there you can focus on 1-2 of those markets to really double down on. 

I am sure you have heard of Joe Fairless, but if you haven't he is a MF syndicator and he has a book that really helped me in transition to the MF space, its called The Best Ever Apartment Syndication book. I would really recommend you get a copy of that because I know it outlines step by step every process that you should be going through to enter the MF syndication space. This book is not like others where it is shifting your mindset, it is more about tried and true methods to follow to be successful in MF investing. 

I know you are not in the syndication space exactly, but a lot of the methods are similar especially topics about finding emerging markets to invest it. I hope you found some of this information helpful.

Feel free to reach out with any questions or concerns.

Thanks,

Hello @Tucker Jones

Have you looked into using a FHA loan? The FHA loan allows you to put down as little as 3.5% down on a property under 4 units. So this includes duplexes and triplexes, the one thing you need to be aware of is it's an "owner occupied" loan. which means you have to live in the home for at least 1 full year before you move out. Once you do more research on the FHA loan, you will find out that you can move out early if you have a job relocation or an emergency occurs. I would highly consider doing your research on this type of loan because it gives you a better opportunity to get a property with a much lower down payment. I hope this information provided some value to you.

Feel free to reach out with any questions or concerns,

Thanks

Hello @Dana Moore II

Welcome to the BP community and congrats on making the start to your real estate business. If you need any book or podcast recommendations feel free to ask away because I was in your shoes not to long ago. It's an awesome feeling to get started in real estate because it can provide many opportunities, but it is also a lot of hard work that I'm sure you understand as well. 

Feel free to reach out with any questions or concerns,

Thanks,

Hello @Shea Nelson, 

It truly depends on the type of properties you are looking to invest in, if you are looking for multi-family opportunities then I would recommend using Loopnet because it is a good way to start out looking for potential multi-family properties. If you are looking for single family homes then I would recommend Zillow or any other realtor sites that will attract those kinds of properties. In addition, you may find some potential deals here on Bigger Pockets or Craigslist. In addition, I would recommend to first figure out which markets you are interested in investing in that have potential upside opportunities because this may make it easier to pinpoint which market you would like to invest in outside of NJ. Once you have your target markets in place, I would start to build out a team and relationships in those areas to get a solid deal flow from them.

Hope this helps!

Thanks,

@Brad Hoover thanks for posting on this forum and I will definitely reach out to them. Thanks for the connection. 

Thanks,

@Mitch Coluzzi thanks for the quick response, and it sounds like something you can assist with for sure. I will follow up with you in a direct message to see if it will be a good fit.

Thanks,

Hello,

Does anyone know any solid property managers in Des Moines, Iowa? I am hitting a wall and could use any suggestions from anyone.

Thanks,