All Forum Posts by: Matt Owens
Matt Owens has started 7 posts and replied 17 times.
Post: Is investing out of Market smart for a new investor?

- Posts 17
- Votes 21
This is all really great feedback, Sounds like its all about the right deal and quality team.
Post: Is investing out of Market smart for a new investor?

- Posts 17
- Votes 21
I am interested in some markets outside of mine. I live in the Northeast and deals are certainly tough to come by right now. Naturally, that has led me into looking at some different markets. The Philadelphia, Savannah GA, Ohio to name the few.
I have been recommended to find the best team in market- REA, Contractor, etc. What would be some recommendations for this process?
Also with that I am looking to go the HELOC route on my primary residence. Whats the general thoughts?
Post: More info about Philadelphia/ Wilmington DE markets?

- Posts 17
- Votes 21
Are there any seasoned RE agents/ REI that have experience with the Philadelphia/ DE markets. A few factors are drawing me to them but would love some insight from those currently in those markets.
For me its realatviley close to my primary location which I would like to be in decent driving distance for out of state investments. Also entry prices are intriguing as well. I am looking for a small Multi family rental. Appreciation is my primary focus but open to a cash flow market if the numbers make sense. .
Post: Does anyone have experience in Wilmington,DE? A mentor of mine has recommeded

- Posts 17
- Votes 21
I am looking for out of state investment opportunities. I have been doing research on markets that others have brought to my attention, Ohio market, Arizona, etc.
I was interested in some opportunities I have come across in Wilmington. Appreciate any insight from those experienced in that market,
I am looking into small multifamily units.
Post: How would you recommend allocating gross rental income?

- Posts 17
- Votes 21
Quote from @Gino Barbaro:
You would need to give more info. What market are you in, what is the age of the asset?
You should have an understanding of what the per door expense is in the market, and then take into consideration the age/condition of the property.
If you don't know what to reserve, have a few conversations with property managers in the market and talk to community banks who lend on the asset and ask them
Gino
Great Advice!
Post: What has been the most productive service for mailers/ contacting potential sellers?

- Posts 17
- Votes 21
Thank you! I am going to take a look into them.
Post: How would you recommend allocating gross rental income?

- Posts 17
- Votes 21
As a new investor I am working to find the right balance of allocation towards Vacancy, Capex, Emergency, etc. I currently sit anywhere in between 6-8%. I like to be aggressive with these numbers as cash flow is not my main focus now. I am interested to see what seasoned investors find to work best. Mostly small multifamily properties.
What is your breakdown? Thank you in advance!
Post: What has been the most productive service for mailers/ contacting potential sellers?

- Posts 17
- Votes 21
@Ahmed Omran great advice. I’ve had success with QR codes in other businesses. I think that’s a great approach.
Out of interest, What do you use for your landing page from the QR? I’ve been mulling over the best options for that.
Post: What has been the most productive service for mailers/ contacting potential sellers?

- Posts 17
- Votes 21
I have been looking to up my marketing and extend my reach. In efforts to contact houses that fit our criteria but having issues finding the best service for mailers, post cards, or traditional hand written letters.
Looking forward to any recommendations! What has worked for you?
Post: Have heard good things about Grand Rapids, MI for Multi Family

- Posts 17
- Votes 21
@Randy Charboneau
Really great insight. Thank you for sharing this. It gives me a great lens to look at this market through.