All Forum Posts by: Matthew Masoud

So in January, I purchased a 6-unit for $220,000 in the midwest. It was an all-cash purchase.

Rents were WAY below market at $450/unit. (that's why the low purchase price, NOI was garbage). Units needed upgrading before rents could be raised.

Spent $30,000 in total getting all the units rehabbed and brought units to market rents at $775. I also brought down expenses through operational efficiency.

As a result, I SUBSTANTIALLY raised the NOI.

Bank appraised the property at $340,000 and I withdrew the $250k I invested

The interest rate is a bit high at 6.05% but the property will still cashflow nearly $1,500/month after all expenses.

I essentially purchased this property for free $ 0 left in the deal.

Also under contract for a 10-unit that I plan on doing the same thing. Scared money don't make money!

I moved from SoCal to the midwest to do this so it feels good that sacrifice pays off.

We property manage short-term rentals in Kentucky and Cincinnati. Schedule a call.

Pretty sure they are just gonna run AirBnb or medium-term rental on your property and pocket the difference. You'd probably make more doing it yourself with a med/short-term property management company. 

Hey James. I'm an investor from SoCal investing in the Cincinnati/Dayton area. Closed 17 units in the area with 10 more under contract. Let's connect.

I have a contract I can send over to you. We have a management company that works exclusively with short-term and medium-term rentals property. Let me know.

 I'm not away of any special ordinances in that suburb.

If you're looking for property management, hit us up. https://suprcap.com/superior-m...

We have Airbnbs and also manage tons of Airbnbs in the area. There are no specific ordinances limiting short-term rentals in Dayton, not yet anyway. 

So I made an offer for an off-market 10 unit property.

We've been able to come to an agreement for a purchase price of $600k but the seller wants to net $600k.

This is my first off-market deal, how much should I expect to pay in closing costs so that the seller could net the $600k.

I have estimates and rules of thumb for on-market transactions but don't know where to begin for off-market.

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*This link comes directly from our calculators, based on information input by the member who posted.

Tenants pay utilities. Major Capex items have been addressed in the past 12 months.

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*This link comes directly from our calculators, based on information input by the member who posted.