All Forum Posts by: Matthew Masoud

As an out-of-state investor from SoCal I know how overwhelming it feels to pick a market across the whole country.

Looking for cheaper markets that can cashflow I'd consider Ohio, Indiana, Kentucky, and Pennsylvania. The weather can be a bit hard on these properties but they'll cashflow for you.

I personally started in Ohio and now I'm picking up property in North Carolina.

Once you pick a city, you'll need to build a team. Contractor, agent, property manager, ect.

Best of luck. 

All 3 of the markets you mentioned are going to be tough to invest in for $100k. Don't buy in D-class areas because you are too focused on price.

I made that mistake many years ago.

 Best way to start would probably be converting any existing short term or long term rentals to Mid-Term rentals. See what kind of demand your market has. I use Furnish Finder and Airbnb monthly search in my area to get an idea of what rates are.

1. I use a program called Hostaway.

2. I take mid-term rentals and fill the gaps with short term rentals. If i have two long reservations and a gap in the middle, I'll drop the price for those dates and get them rented.

3. See #1 Hostaway does it all. They're are many of them like guestly and hospitable. They are built for short term property but you can use them for mid-term as well.

Yes, this will absolutely increase your monthly debt payments. 

Many people are stuck on the "Refinance" part of the BRRRR because the deal does not cash flow at today's interest rates.

A BRRRR only really works when the deal cash-flows (DSCR>1.25) at the new debt payment after refinancing.

So I've fallen in love with underwriting. I can spend days inside a spreadsheet. I've created my own fairly detailed underwriting spreadsheet.

From the deals I've closed, my underwriting has gotten more and more accurate to what actually happens when the property is stabilized.

I'm thinking of offering to run the numbers on other peoples' deals and giving them a detailed report about how I believe the deal with perform.

I'm not selling anything I just want to get feedback on the viability of this business before I got out and spend hours trying to build it.

 We purchase in bulk and only add one female and one male razor. at $0.50/razor it only adds $1 per reservation in costs. 

 Check on furnish finder for the going rate for that unit size/amenities. Estimate a 90% occupancy rate and ensure you're still making money on that arbitrage. 

I think your best bet is going to be a combination of MTR and STR.

We operate all of our properties that way. We use STR reservations to cover the gap between two MTR reservations.

It's the balance we like between steady income while still collecting a premium.

I started out with managing my own property, The portfolio got big enough to hire a full-time person to help me out and a Virtual Assitant. 

After a while, I had operations DOWN and felt comfortable enough taking outside clients. All I had to do at that point was plug them into my existing system.

You need thick skin in this business but I think most of the money from it is made by creating a system that manages your own portfolio well, not other people's portfolios, especially in multifamily.