All Forum Posts by: Matthew Gentile

Well done Cam!

First step is always the hardest, but now the momentum starts to build!

Might not explain a large portion of the homeownership numbers, but I have seen friends who will buy property together now and all live there for a few years until one person buys the others out or whatever the case may be. 

What the charts you provided don't indicate is whether they represent individuals who have name on deed. Or just homes individually that are owner-occupied versus renter occupied. I could see a scenario where if it's based on individuals who "own" stake in a home, the numbers could be skewed upward based on multiple people buying homes together to solve the affordability issue. 1 Home, 5 Homeowners type of thing. 

I agree with Nathan,

Your insurance would never cover a vehicle parked on a public road. Definitely, have them call their auto insurance. Hopefully, the "act of god" doesn't hurt them here but protects you if the tree was maintained well. 

Not to sound like a broken record because everyone seems to say similar and be in agreement. 

But as you've stated you realize your error in the situation which is great. To have someone willing to give you that kind of money on nothing but "trust" is such an incredible opportunity you owe them everything and they owe you nothing, good deal or bad deal, not that I think this situation would happen again.

The unfortunate fact is that you had personal emotion tied with the money. Childhood trauma whatever the case is, they still lent you the money. I have never heard personally of a guilt 150k lend. Seems silly to me to put it that way but I'm not akin to the situation on the inside so I won't make a judgment.

The investment broker line is wrong, an investment broker buys investments on your behalf without ownership for a fee typically. You didn't buy anything on their behalf, you took their money and bought on your own behalf under your own name. Very different but like I said I'm late here and you've already acknowledged it which is great!

Happy you were able to come to a resolution with your parents and move on. Great to hear. As for the last post by Jeremy H, disregard that, that is uncalled for, everyone makes bad deals. We are here to assist and direct, not berate. 

Quote from @Daysi Tamara:

Hello, I am looking to connect and network we are very new to REI and are looking to grow.

We are in Westminster , MA. Do you have any meetups in this area?

Thanks 

 I sent you a DM Daysi!

Happy to help you however I can.

Quote from @Henry Clark:

My niece just passed on a deal for a new Airbnb deal.  Went thru a guru program.  Last second found out the Property tax estimate they used was wrong.  They used the gurus tax rate who is in the neighborhood.  Found out the new rate was 2.5 higher.  If she had bought it she would have been one of those people who paid to much.  Trying to get her into Self Storage so I can be the paid Guru and get a free lunch from her. 

Thank god she was able to identify the problem before it was an expensive mistake. Kudos on that one. 
I've always been curious myself about Self Storage, seems too good to be true from the street view. But I have done very little research on it so I'm sure it's harder than it looks.

Quote from @Account Closed:

Quote from @Matthew Gentile:

As an agent, I have been seeing insane numbers being offered on properties where there is no way the rents can possibly make sense.

I'm curious how people are spending so much on multi-family properties, especially in the current rate environment. What is the mindset or strategy when the offers are out of range from the absolute top ranges of rent that could be charged? Is it a hope that rates decline and then it makes sense? But how much damage will be done by hoping for the unknown and operating at a loss? Will rates come down enough to make sense? Are we hoping for appreciation in these situations? There are still deals to be had and things may not make sense for a couple of years at best, but some of these numbers just do not add up. Would love to hear some perspective on this!

They weren't around for the last downturn. They don't know what they don't know. ;-)

 Recency Bias is a hell of an anesthetic for people who don't want to believe it could go the other way =)

It is interesting to weigh the skyward appreciation model at these levels. I'm probably too conservatively minded to use that model myself, but then again my goals are consistent cash-flow and stabilized equity building properties. I'm not looking for crazy appreciation or overwhelming concerned in the event of a downturn because everything is structured in protection for and against. Does that limit me somewhat absolutely. But my drive is stability not making infinite money (not against it at all! Would love infinite money) but cash-flow to the degree my wife can work if and when she wants to is good enough for me for now. Happily take the appreciation if it happens but don't want to rely on it too much.

Welcome Rufino,

I also come from a healthcare background so it can be done. (I still work part time for the hospital at my W2). I enjoy real estate investing and agency waaay more than the monotony of the laboratory so I know where you are coming from. 

Ask questions, read the forums, everyone starts somewhere don't be afraid to put yourself out there. This is a networking business your team will mean everything for your success. 

Glad you're making the jump, let us know how we can help!

Great question @Jennifer Wood. You are absolute spot on when you say @Jonathan Pflueger should win an award that explanation was incredible, concise and very informative and powerful. Well done. 

I agree with everything that's been said but I'll highlight probably the most important aspect an investor-focused agent will bring is the network and relationships. It is far easier for someone actively working in the industry to be able to know and reach out to 100-200 people who are on their team or off doing like-minded operations to see who has a distressed property that needs to be offloaded quick. Some buy and hold investors may have outdated beat up buildings that can't be sold conventionally without repair and your flipping operation with the right agent may just happen upon that deal for working with that person. This is a network game, people make deals with people. Relationships are critical. And naturally the more you work with like-minded investors and agents, the more your network starts to expand and momentum is enormous in real estate. 

I'm excited for you! Keep us updated on how you're progressing.