All Forum Posts by: Matt Rose

@Clare Cheney

The book is fantastic! Life changing book. So much so you prob will either not want to go back to your day job or quit it. It will shake up your beliefs. The topics in this threat are discussed.

Any thoughts on owning older homes or triplexes that are early 1900's? The goal would be to buy and rent out with the intention of having cash flowing properties once they are fully paid down.

Is this not a good plan since they will be so much older by the time they are paid off?

Any bids for buying newer or the older homes?

So I'm friends with a couple who want to go in on a triplex and we are thinking about going in on the this deal 50/50.

My question is about interest rates. I plan on living in one of the units after we buy this place. Is it possible for us to get a better rate when we purchase the property if I'm planning on living there for a certain period of time. Also, being that the home is under an LLC,...does this automatically make the rate higher or is there a loophole where I could live in it for a certain period of time under an LLC and get the reduced interest rate when we buy?

Any help or suggestions would be appreciated!

@Kam Mill I hate using credit

@Jacob Sampson I was kind of hoping to house hack and buy a triplex or better in the first run... would you not recommend this?

@Jacob Sampson so what you’re saying is don’t just buy an apt complex first? 🤣

@Scott Pearson thanks scott!

@Joe Villeneuve what about trying to time the market for a better entry. I was sort of hoping to catch the market on a lower point to enter. Everything is so expensive now and I don’t want to buy high. Would you wait?

I am envisioning myself with single family rentals, a multiplex, or complex in the next five years..Here’s the thing. I’m in this mindset that I should be saving money until I “have enough”. Is this the right strategy? Or should I be financing more? Basically I’m looking to put 20% down. Yet when I had a conversation about this with my “loan guy” he said I can get in with 5% down.

I’ve listened to many of these podcasts and more and it seems like many wait until they have 20% down. Is this a fuzzy number, does it matter at all? Should I be waiting for the market to turn down to find a deal on the front end? I have so many questions and so much ambition, but not sure when the time is right and how much I should have to put down and as a back up if I plan to use a property manager.

Sorry for the ramble. Feel free to speak to any part of this lol. -Matt

@John Moorhouse I echo all the above comments. I’m 34, in a dead end HR job after having a college and high school education. Income is good for my area though. I also have aspirations for real estate and to be a landlord of as many homes as I can buy. Yet, there are good stepping stones to get into place. And if there was ever one that was super important, it’s graduating high school.

Your aspirations and drive are to be admired but not graduating will only work against you in my opinion. In many unforeseen ways in your future.

You are young and have PLENTY of time. Do what I didn’t do and graduate high school and start RE investing in your 20’s instead of your 30’s.

Get that degree and then attack it. You’ll be rich but get the right stepping stones in place.