All Forum Posts by: Matt Powell

@David Dachtera I have read Think and Grow Rich.. it is good! And you (and the book) make good points about how much money it will make vs cost. I'm sure I've fallen into that thinking a time or two. I'm not opposed to reading books a second time if it has been a few years since I picked it up.. as I'm sure you know you can get different stuff from books depending on when and where in your REI career you are.

Any other books anyone recommend (Besides the ones listed above)?

Thanks,

-Matt

@Clint Williams .. I stumbled across this post and I may just have to read his book. I'm not a big fan to just about anyone or anything in politics, but I'm always up for a  good book read. Espically when it comes to Mind-set.

Thanks for the insight.

I don't think I can add anymore than what everyone else has already stated. But I would love to know the books he ended up reading or was it just the book Rich Dads for Teens?

Great story.. Thanks for sharing!

Hey Aaron, 

All the options you mention are valid. But I'd say the best option is having that money in the account would be best. And don't put down more than the 20%. I'm an investor in Bloomington as well. I have 32 Units and I am presenting at the local REI Club on Feb 14th. The topic is on buying Multi-family and i'll talk about financing options. I'd be up to chatting with you any time. Let me know. Good luck!

I'm an investor from the Bloomington / Normal area.. and I would love to make tonight. Unfortunately, it won't work out. I'll keep my eye out for the next one or add my name to the list if there is one.

Thanks,

-Matt Powell

Hello Mark,

I am a Buy and Hold investor in Bloomington / Normal (BloNo as we call it). I have 32 Units. I have come across a few houses that I could have fixed and flipped. I ultimately let them go since I really didn't have the time to invest in hiring and watching over a GC (I know how weird that sounds but still) not to mention it isn't my primary invesetment strategy.  There are some definite Buy and Hold deals going on and like with most areas I have investor friends that have done all types of investing here. So seems to be many possibilities. I'd be happy to help you out where I could. At 32 Units I'm about ready to start investing in other areas. However, if a great deal (not a good deal) comes by I'm usually try and make it happen.

Let's talk,

-Matt Powell

From an investor from Bloomington, IL.. this sounds like a good deal. Make sure you do your due diligence. Almost sounds too good to be true. In Bloomington it. Is hard to find a $50k duplex that doesn't need. $50k+ in repairs. With that said ask every realtor in the area which property management company they would recommend. It would be worth it to have a property management company deal with any issues. Not sure how much they charge up there but shop around. And good luck! 

Clayton you bring up an interesting point and I hope to see others post their comments here as well. What I have done for my properties if they don't qualify, I use that as an opprotunity to get them in my credit restore business. So I usually ask them if they want to sign up for that service. Some do, some don't. After their credit is in good standing I'll then rent to them.

for 15 years and 20% down I'm getting 3.8% sometimes. 3.5. 

@von welcome to BP! I am very new to BP myself. I am into Buy and Holds as well. I currently have 32 units in Central Illinois. I'd love to invest in the Central Tennessee Market if the opportunity exist. Maybe we van do some deals.. 

Welcome!