Matt Simison
Palo Alto, CA (USA)
Role(s):
Founder/Owner/Principal
Simison Properties
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Startup
Location:
Palo Alto
Industry:
Real Estate
Year Founded:
1990
Number Employees:
1-10 people
Description:
I buy Real Estate for equity and cashflow. In this current economic downturn opportunity is huge, but only if I had capital I could catch millions in equity as the next wave hits and the market rebounds. I have bought single family homes recently for pennies on the dollar. I currently own about 6 million in real estate, with positive cashflow and poised for equity growth. I want to buy 20 more. I remodel all the properties myself with my own crew, we make the places nice and rent them for higher than market average. This is a huge opportunity in history to grab as many properties as possible and wait for the market to recover.
I have been doing this for 19 years and I have bought single family homes, multi family homes, commercial properties, foreclosers(real foreclosures), probate sales, tax sales, land, and apts. I can't get loans now because of the rule changes, I have over 10 loans, and the FHA won't len to anyone with more than 10 loans. It is not fair for the investors such as myself to be penalized because of all the residential loans that went south. I have always carried alot of loans for 19 years and have never missed a payment to any bank. But as a result I can't qualify for any of these great loans at 4.5% because of all the uneducated home buyers collapse. So I am seeking funds in anyway shape or form. I am even looking at hard money, but 12% is alot more than 4.5%. Well, that's my story and it would be amazing to hear from someone interested.