All Forum Posts by: Aaron Macken

Hey WI people, I'm looking to do my first house hack next year somewhere around the greater Milwaukee area. If anyone has experience in this area, I'd love to chat with you about some potential locations I've been looking at.

I'm a web developer so if you need any tech related knowledge I'd be happy to be of service.

Feel free to send me a DM!

@Zachary Alexander lincoln that’s some good advice. I’m going to start shopping in January/ February time frame. I’ll try your strategy of having the brokers compete against each other and see how it goes! Cheers

@Zach Westerfield great advice. I’ll see what I can do about getting a feel for these areas then! 

Hey everyone, hoping to get some feed back on anyone's experience on this. 

I was browsing through zillow and started looking in some pretty random small towns. (Marion, IN for example). The rent is fairly cheap, but the home prices are even cheaper. After doing the math, on paper some of these small town homes look like they could be great deals. 

I talked to my Mom's landlord and he said he gets scared of buying in non metropolitan areas where the demand for housing is not very high. It's also hard to have faith in an area that I can't actually see. Has anyone had experience in buying in a smaller town like this? What has your experience been? Would you recommend it?

The general idea you'll hear is "getting out of the rat race". Or using your money to purchase something that makes you more money. By purchasing rental properties the right way, you'll be able to generate multiple streams of income. Gather enough and you'll be able to quit your job, or at least have the option of doing so! Flipping seems great too, but in my opinion, it seems more like a job. As soon as you stop doing it, you stop making money.

Marcus hit the nail on the head as well. I'm looking to get into my first owner occupied rental property pretty soon here. It seems like a great way to get your feet wet with everything. 

Hey guys, I was looking on zillow for a mortgage broker and instead found a lot of "mortgage corporations". Are these companies portfolio lenders? Should I consider working with one instead of inquiring for a loan at a bank?

@james 

@James Wise I’m going to do a conventional deal to start off with to gain some experience. The ultimate goal is to scale up with the brrrr strategy but I think I should get my feet wet a little bit first

@Marcus Auerbach Thanks for your feedback. I didn't know the strength of the lender made an impact in the sellers decision. What's the issue with the bigger banks, aside from the fact that you can only have a limited number of loans from them? Is it the turnover time it takes to get the loan approved? 

I'll see what I can do about reaching out to smaller local banks after I get a quote from this mortgage broker. Also I saw your youtube channel, great stuff!

@Luan Oliveira Thanks. I'll keep that in mind. I just started a new job which I know can have an impact on my ability to get a loan. But I just got my bachelors degree. I read in David Greene's BRRRR book, that if you have a college degree in the field you just started working, that could count as multiple years of paystubs. We will see what happens.

Also, did you know that you share a name with a famous pro skateboarder? I'm sure you already know! haha

Hey everyone, I'm looking to get pre-approved right now. I was going to go the route of calling up a bunch of potential banks and seeing what I could get. But I had a family member give me a referral to a loan broker recently. Sounds like he would basically take the leg work out of this process for me. 

What's everyones experience been with working with a loan / mortgage broker? Do they come with extra fees? Would I be better off looking on my own?

Let me know :)

-Aaron