All Forum Posts by: Matthew Morrow

That sounds like a solid strategy! I’ve been exploring similar opportunities on the East Coast, where solar development is also picking up. Land banking in the path of renewable energy projects could definitely pay off, especially if you choose parcels with the right zoning and infrastructure in place.

While my focus has been more on the East Coast, I’d love to hear how things are shaping up in Kern County. Are you in the early research phase, or have you already identified some promising areas? It’s an exciting space to be in for sure!

It sounds like you're diving deep into the numbers, which is great. Finding the true appreciation rate for specific towns can be a bit tricky, but you can start by looking at historical sales data, talking to local realtors, or even checking out some online tools that track market trends.

If the condos you’re eyeing aren’t meeting the 2% rule, it might be worth reconsidering or at least getting a more detailed breakdown of potential long-term appreciation and other benefits, like tax advantages or rental demand growth in the area. The fact that you’re not seeing positive cash flow for a few years is something to weigh carefully—sometimes a slightly better cash flow deal in a different area might be worth considering. Just make sure your data input to the calculator is accurate.

If you're investing in NJ, we actually have an investor-focused team out here and would be happy to assist or give you some more specific insights on the areas you're looking at. Just let me know if you'd like to connect!

Hey, welcome to the community! It’s awesome that you’re jumping into real estate at such a young age. House hacking is a great way to get started, especially in Utah. Tons of helpful people and resources here, so you’re in the right spot. Best of luck with your first deal—looking forward to hearing how it goes! Feel free to reach out if you ever want to chat or need advice.

@Matthew Sarro - 

It sounds like you've got a solid handle on your finances, especially with no major debts hanging over your head. If you're thinking about seeking a loan, having a personal financial statement can be super helpful, but it’s not always a dealbreaker. (im not a lender and never pretend to be lol)

Front our experience, Lenders usually look at your credit report, income, and tax returns to get a sense of your financial health. So, your credit report and Fidelity's Full View might be enough for them to get the info they need. However, a personal financial statement can give you a clear picture of your assets, liabilities, and net worth, which could make the loan process smoother and quicker.

If you’re not in a rush, you might consider setting up a simple personal financial statement in a spreadsheet. It doesn't have to be fancy, but it’ll help you keep everything organized, especially if you need to provide more detailed information down the line. Plus, it’s a good habit to get into for your own peace of mind.

Many of the answers here are very solid. BP had a great network to bounce things off of. If you need some local resources to the LV, we can chat more on our call.

Nice! Keep at it. This is a long game that requires persistence.

Make the money when you buy. Best of luck!

Quote from @Adam Pervez:

Hi all - 

I am looking to expand my portfolio in LV and was wondering what people were buying in how the market is today. Thinking of doing another MFH purchase but was curious how SFH do in LV.

 Adam,
Things are highly subjective to what / where / condition. Give me a call, would be happy to go over the more finer details and answer more questions. We help clients close numerous multifamily deals in the valley each month and have good pulse on what's happening.

Matt

@Matthew Sarro - 

Thanks for sharing your journey—it's clear you've got a solid foundation with your experience in REITs and hard money loans. Transitioning into hands-on investing is a great move, especially as you aim for more freedom and independence.

I’d love to chat more about how our team of investor agents operates here in Allentown. It can get intense at times, but that's part of the excitement! While job shadowing is a bit unique, we’ve done it before for those seriously interested in the industry. We specialize in working with real estate investors, and I’m confident we could help guide you through this transition if you're considering it.

Feel free to shoot me a text or email, and we can discuss how to support your goals and get you started on this new path.

Best,
Matt

Quote from @Jed Leviner:

@Matthew Morrow and @Colleen F.  Thank you both for your responses.  I was getting a lot of pressure from the prospective tenant to move fast which raised some red flags.  I did some digging and they had been operating for a long time and had numerous complaints filed.  I felt like I needed time to handle it properly and they didn't have the time.  I think it worked out for the best.

Glad you found out before they became your tenant. This is a good thing, and hopefully you get someone in there soon!

Quote from @Vivek Kumar:

Quote from @Matthew Morrow:

Quote from @Vivek Kumar:

Well I am not doing Airbnb. The person leasing it wants to do Airbnb. I am leasing them for the year

Ah ok, I misunderstood.  This is your current tenant with yearlong lease and they want to sublease / airbnb? 

Well my property is empty but someone reached out to me to lease with that intent 

Gotcha. It all comes down to what you want with your property. Are you desperate for cash flow?

if you were looking for security and stable tenants, waiting for a long-term may be your best option. 

there are prospective tenants who would be great using your property within their own business model, but just make sure you understand the insurance and liability implications of this. Some building insurance companies may not allow this because it is essentially free rein on use of the property.

either way, do what’s best for you.  

Quote from @Vivek Kumar:

Well I am not doing Airbnb. The person leasing it wants to do Airbnb. I am leasing them for the year

Ah ok, I misunderstood.  This is your current tenant with yearlong lease and they want to sublease / airbnb?