All Forum Posts by: Matthew Morrow

Hey BiggerPockets crew! 

I’m Todd, the newest addition to the real estate circus. 

Why I'm Here:

I’m here to learn, share, and maybe even drop a few dad jokes along the way. If you see me asking questions like, “How do I unclog a toilet with a shoelace?” or “Is it legal to build a treehouse on a duplex roof?”—just know I’m serious.

Goals:

Short-Term: Survive my first property acquisition and placing a tenant. 

Long-Term: Own enough properties to build a monopoly board. (I call dibs on the “Boardwalk”!) 

Looking Forward:

I can’t wait to connect with fellow investors, landlords, and anyone who knows how to fix a leaky faucet without summoning a plumber. 

Feel free to drop me a message, share your wisdom, or challenge me to a property-pun showdown!

Cheers

-Todd

Just

Recently I've seen a massive increase of homeowners rolling up their sleeves and taking on DIY projects either on their primary homes or on their rental properties. Maybe money is tight, maybe it is the summer and people are feeling more inspired to make the recurring Home Depot runs, or maybe people are taking more initiative to round their skills on Youtube University. 

I am certainly guilty of biting off more than I can chew when it comes to taking on projects that I was not skilled enough to properly move forward, and have used professionals on a few of the projects to get me to the finish line. There are things I know I will never look at doing myself: plumbing, electrical, roofing, installing hardwood flooring, bathroom remodel, and I'm sure many more! At times, I wish I hadn't even touched certain things as it cost me more to hire out a contractor to fix my mistakes, and other times I have saved myself a few hundred dollars on maintenance costs. My biggest mistake was thinking that I could lay down new LVP on the main floor of my last house hack, 1 month out of shoulder surgery and I quickly pivoted to a local professional. My inability to understand the time it would take doing it myself at the pace I was moving the project forward set me back a few weeks at best; slowing down the turnover and listing it later than I expected. 

What are some projects you have been able to move forward that you did not expect you could do?

AND

What are some projects you have turned over to professional help after you realized you couldn't do it? 

I am an experienced real estate professional who is expanding into investment properties. My role involves raising capital and collaborating with investors interested in leveraging my business to facilitate their acquisitions. I am currently seeking funding and establishing partnerships with agents who are knowledgeable in alternative financing and real estate investment strategies.

I have some properties in mind that I think would work well (both short and long-term) but I don't have money for down payments. Advice on getting started? Two properties already have tenants and the other has a strong short-term rental history with property management already in place. One property is in Charleston, another is in Fort Worth and the other is local to me in Maine. The one in Maine is a 3-unit while the other two are singles.

Hi there, my name is Aram, I'm a financial advisor and a newbie real estate investor! I'm currently moving my investing activity to a different area and working on building my power team in that area. 

I've come across this real estate "consulting" company. Initially I had thought that this company only does property management, but as it turns out they help the investor from A to Z, when it comes to finding appropriate agents, lenders, contractors, handymen, managing rehabs, management, providing advice on the best investment strategy, etc. 

I've interviewed the owner of the company and he is a real estate investor himself and clearly knows what he's doing. 

From an initial impression, this makes the process of long-term investing much more convenient, and the only fee (apart from regular agent/lender commissions) is the property management fee!

My struggle is the prospect of potentially giving up control, having the choices of team memebrs made by this company for example.

Obviously, at the point where I see the potential members of the team to not be suitable anymore, I can definitely look for others, but i'm still finding it to be uncomfortable.

What do you guys think of potentially partnering with this type of company, and what would you do if you were in my shoes?

Thanks!

Aram

Any calculator or rental calculations that you recommend for Duplex or SFH to analyze if they're worthy of buying for positive cash flow?

For example, there's a 1950 duplex for sale (West Palm Beach, FL) for $500k with each tenant (MoM) paying $1,500 = $3k/mo

The mortgage is $2.8k/mo

Would this be a bad investment because you would have to factor improvements and possible vacancy?

If so, what would you recommend would have made this deal better as an investment?

Really apologize if this is a stupid question, but I’m new to RE investing so I hope to get some help with this basic question. 

i recently went into contract for my first rental property out of state (PA). I'm going to be forming an LLC in PA to hold the property. My question is, can I open a bank account for the PA LLC in my home state of New York?

Hi there!

I'm a private landlord, new to the Philly market, and I'm eager to connect with another experienced landlord who can guide me through this thriving market. I'm open to phone calls, FaceTimes, and meetups—whatever works best!

A little about me: I'm a two-time combat veteran with the US Air Force. Looking forward to connecting and learning from you!

Best, 

Mr. Desati "Des" Nyanwleh, MBA (STEM)

Hello Everyone,

I am Collin Reichelt and I am a military officer with over 20 years of  service in the U.S. Coast Guard, specializing in Federal Law Enforcement and Emergency Response. I commissioned in 2019 after 14.5 years in the enlisted workforce. I have served across the U.S. and overseas, developing expertise in strategic mission planning, operational leadership, crisis management and strengthening global partnerships.

I am now eager to meet and collab orate with business professionals to start building my real estate portfolio. I am excited and ready to listen and learn everything I can to be successful. 

I am especially interested in learning to master the BRRRR method, but also ready and willing to use traditional methods to build my portfolio. My 10 year goal is to build at least $20,000 a month in passive income in order achieve some financial freedom, but I also see real estate investing as my true passion post military. I am looking to make this my second career (what i really want to do when I grow up) and I am excited for the future business relationships and friendships that are certainly to come. I am currently in business school at the University of Southern California and plan on getting my real estate license once I graduate in May 2025

I am humbled by the experience and wealth of knowledge that is on this platform and I look for forward to getting started with your help

Hi there, 

My husband and I both purchased properties in 2019 before meeting each other. I rented out my condo (short term - midterm) to move in with him, and now he is ready to rent out his single family home (long term).  We are considering renting a home in the neighborhood we are interested in buying in, to test it out for a few years. By renting out both of our properties, we will generate enough income to cover the rent of our new home.  We both also have full time jobs.  We have $50k set aside for emergencies related to our rentals.  

Is this a unique form of house hacking, where the rental income from our owned properties covers the rent of our new rental home?

Are there any potential issues with this plan?  Thanks all for the help.