🔶 Buying Multi Family Properties Using City Websites w/ Matt Davis 🔶

TL;DR

Matt Davis discusses how networking at real estate meetups helped him kickstart his career in real estate investing.

Transcript

you know i met a number of people who were my age  had a very similar background and you know they   already had two three properties and i said that  they can do it there's there's no reason i can't   so you know what was i was constantly waiting i  thought i needed to know more information before   i was ready to approach an agent and asked  to l... Read More

Key Insights

• ❓ Networking at meetups can provide valuable connections and opportunities for real estate professionals.
• 🥺 Building relationships with potential investors and constantly communicating your passion and progress can lead to successful partnerships.
• 🤝 Taking the time to understand the specific closing process and requirements for each deal is crucial for a smooth transaction.

Questions & Answers

Q: How did Matt Davis get started in real estate investing?

Davis found his passion for real estate through books and podcasts. Attending meetups and networking with professionals helped him take the first steps towards investing.

Q: How did Davis raise funds for his first real estate deal?

Davis had been priming his network of family and friends for years, sharing his interest in real estate. When he found a good deal, he pitched his investment opportunity to them, highlighting his knowledge and the potential returns.

Q: How did Davis navigate the lengthy closing process for his deal?

As the property was being sold by the city of Lowell, the closing process involved various approvals and coordination with government entities. Despite the 15-month timeline, Davis remained patient and proactive in ensuring the deal progress.

Q: What challenges did Davis face in tenant screening for his property?

Davis hired a property manager to handle tenant screening, but he was actively involved in the approval process. He prioritized running credit checks, evaluating income verification, and using Google searches to gather additional information about potential tenants.

Summary & Key Takeaways

• Matt Davis, a recent college graduate, got into real estate investing after discovering his passion for it while studying mechanical engineering.

• Attending real estate meetups and networking with professionals in the industry helped Davis gain valuable knowledge and opportunities.

• Davis successfully closed a 15-month-long deal to acquire a six-unit property from the city of Lowell and raised funds through his network of investors.