All Forum Posts by: Eric Siebert

Why are you looking at Kimball? Seems that in such a small community you may have a hard time keeping the place rented. The population looks like it has had a slight but steady decline over the years. Just something to keep in mind.

An excellent story and an inspiration to my wife and I as we begin a journey that will hopefully be as successful as yours.

I'm going to have to disagree with Brent Smith on a couple of things in his post. First, I wouldn't necessarily worry about what is going to happen in 4-5 years. You can build up quite a bit of equity in a short time if you are playing it smart. Having renters in your home can be fine. If they are friends or acquaintances it will often be fine. Lay out the expectations and make sure that each roommate understands them. If you are a type A personality, then I would say no. You need to be a bit flexible and allow others to live their lives. While values are not "Skyrocketing" in Nebraska, we have enjoyed steady growth and prosperity for a long time and that doesn't look to be changing any time soon. The $150k houses seem to allow you to get a good value for your money. If buying a house and renting to your friends seems like its a fit for you, do it.

That was my plan. I won't have any partners, aside for my wife, so it is pretty straight forward in Nebraska. Then I will register in Wisconsin. I may pay cash initially and then refi so that I can free that cash up again. At that time I would transfer it to the LLC.

We are ready to put an offer in on our first investment property. We are in Nebraska and the property is in Wisconsin. Would it be beneficial for us to form an LLC for the real estate investments or is it not worth the effort until we get more properties under our belt?

I'm not worried about the appreciation side of a deal so much. My concern is only cash flow. I can pay off most any home that I am looking at in a short amount of time if I am looking to roll the cash flow back into the mortgage. I'm looking to scale this into 5 houses by the end of 2018. I would think that the fact that Manitowoc has had a bit of a hard time makes renting look much more attractive to the population.

Does any one have an insight as to the market in Manitowoc Wisconsin? I'm from the area originally and was looking to purchase some out of state property. I'm in the market for a multi family. There are quite a few houses on the market that I feel would work well for me. They cash flow if, and here is the rub, if you can get tenants. It seems that the population is shrinking which is creating a lot of available housing. From what I understand, it's a lot of month to month and nobody really wants to sign a lease. Here is the link to the worksheet. I would love any insight into this deal. The other thing is that there is probably 0% chance of appreciation in this or any home there.  Thanks

https://www.biggerpockets.com/calculators/shared/3...

I was wondering what you all thought was the best online payment option for collecting rent?  I'm looking to purchase my first rental that is out of state and I would like it to be as efficient as possible.

Thanks Everyone. My job as a professional firefighter helps me to understand many of the areas in the city that I do not want to own in. This property looks good on paper. It's just off of a busy street and across from an elementary school. There is a house a block away on the busy street, not as nice, that is renting for 65% of what Zillow says the rent for this one would be. If it was 20 blocks South, this would be a no brainer for me. 

How accurate do investors feel that Zillow is on their Zestimates? I've been analyzing a number of properties and looking at Zillow to get an idea of what rents might be but I am not always confident that their numbers are accurate. I was specifically looking at a property in a C area and they were saying that it was $1500 for rent per month. I know that I wouldn't pay that to live in this area but others may.