Matthew Gould

Decatur, GA (USA)
Role(s):
Founder/Owner/Principal

Hold'em Properties

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Location: Decatur
Industry: Real Estate
Year Founded: 2006
Number Employees: 1-10 people
Description: Hold'em properties is a real estate holding company set up by myself and a college friend to purchase, hold, manage, and ultimately sell real estate. Originally set up to purchase and resell real estate options and in 2007 had revenues of $700,000+. With the collapse of the real estate bubble the company has been on hold for the past year. However, recent low prices at the very bottom of the real estate market (in the section 8 rents category) has encouraged us to start the company up again. We are seeing historic prices at these levels with solid returns above 10% (after taxes, depreciation, maintenance, management) without accounting for capital apprecaition. At this point we are looking for financing to take advantage of the unprecedented opportunities in real estate. We are interested in debt participation. For debt participation, we are looking for traditional cash out investor real estate loans and or purchase and construction money. Essentially we are looking for private money lending b/c the mortgage lending market is experiencing unprecedented tight conditions for investors right now. We recently purchased our first rental property asset in December 2008, a 3 bedroom 2 bath home in the Decatur, GA area as a proof of concept and hope to put several more properties under contract within the coming quarter. Just for a general idea of the discounts we are seeing in this market, and why we see this as an investable concept, the house we just acquired we purchased for $21,900, it sold in 2007 for $154,000. After construction costs, and looking at taking a low rental rate, we will still clear 14% returns from the rents, and believe that capital appreciation could push these yearly returns above 25% in a 3 year period. Although that may not seem that much compared to some internet startup companies out there, these are huge numbers to see in basic rental real estate. Furthermore, we have the experience and ability to scale the company up to manage upwards of $10,000,000 quickly, and have already identified $1,000,000 of properties ready for aquisition. Both myself and my business parter are former mortgage brokers, and I am a real estate agent in the state of GA.