All Forum Posts by: Sky Mikesell

Hi @Trina C.  as we like to always say if the deal is good enough the money will come.  I have worked with a number of private lenders simply by negotiating hard to find the right deals.  Some lenders have been just lenders and some were joint venture partners when i was just getting started. 

happy hunting.

Solid Investment Property in high demand University Area.  This is an excellent area in a neighborhood full of home owners.   House is in great condition and comes with tenant and property management. 

Purchase Price: $129k     ~    Already Rented for $1175.00 per month

The NUMBERS....

Principal & Interest Payment:$519.37    (assuming 25% down & 5% interest)
Property Tax: $128.36
Insurance: $45.00
Property Management: $94.00
HOA: $35.00

     Total Expenses: $821.73/MO

NET CASH FLOW PER MONTH: $353.27

CALL 704.622.3326     or   Email   [email protected] 

 For those of you not familiar with AON  and their Rent protect program it was basically insurance that protected the landlord in the event tenant went into default, in which case AON would step in cover lost rents and assist in eviction costs.  Sweet deal! 

About a year ago i believe AON quit offering Rent Protect Policies. 

They are gone now does anyone have any knowledge of another company doing something similar to this operating in the United States? 

any feedback is appreciated. 

thank you 

Sky Mikesell

Hello Tim

My name is Sky Mikesell i am based in Charlotte NC and our winters here are nothing compared to wisconsin ... however my experience is the type of properties i buy tend to attract families and families generally arent moving during the holiday months.   That being said i have rented plenty of properties in the months of december bc i didnt have a choice.   When doing so i would be the new tenants on a short term lease (6 months) so their lease was ending during a time of year i would not struggle to lease the property. I always assured them i would be happy to resign their lease in june/july for an additional 12 months but could not go over 6 months at this time... This always worked beautifully bc it was rare anyone was ready to leave just 6 months in... which means i got another 12 out of them... and i was on a annual renewal cycle i was comfortable with. 

good luck and take care

Sky Mikesell

Hello @Eugene McLaren

   my name is Sky Mikesell based here in Charlotte, NC...  it is not easy getting across borders between canada and U.S. like it used to, i also have notice the scrutiny when i have travelled to and from canada.  

i have worked with a fair number of international clients...  if you are looking for something more permanent The EB-5 visa program is a method of obtaining a green card for foreign nationals who invest in America.

here is the criteria..

To obtain the visa, individuals must invest either:

• $1,000,000 in their own business anywhere in US and create 10 jobs, OR
• $500,000 in a targeted employment area, pooling money into an investment and also creating 10 jobs

Regional centres provide investments for people to qualify under the US Government guidelines, which a green card achieved within 6 months.

An investment of $ 1,000,000 or $ 500,000 in a rural area will provide the right to claim a green card, thus providing the investor with permanent residency and permission to work in the US.

good luck and happy investing.

sky mikesell

Invest in debt    by Jimmy Napier

man...lost rent is tough... it can never be recovered.   all of us landlords have had properties that dont rent quickly for one reason or another.  when a house is vacant my patience runs thin...  

in my experience with my own rentals if i have checked comparable rentals in the area and i know i am at or near market and my house is showing to the best of its ability inside and out then i have no choice but to start adjusting rent down.  I do this because i would rather get $25 less per month rather then lose 3 months of rent only to satisfy myself that i got a higher rent... if i have 2 months of less vacancy (ie in your case $1350) $25 bucks a month less is not a big deal. 

in some cases when i have taken less then i wanted due to time of year i was leasing out the property i will sign the tenants up and disclose to them the introductory rate of _____x___  and inform them this is our winter special and rent moves up in the spring or summer or whatever you want... I make sure the rental rate is moving up during a time of year it is easier for me to lease out the property.   

everyone has their approach, this one has worked for me for the 14 years or so. :) 

Hi Andrea

 i use infusion soft for both... and they actually have a CRM built in which is actually a great CRM and their email broadcast / auto responder system is very user friendly. 

Not the least expensive but one of the best i have used... i have used aweber and jangomail and constant contact... the CRM was the selling feature for me or i probably would have never switched over to them. 

welcome @Joe Derilus...

what are you looking to do in this wide world of investing ? 

I have consistently worked off various spreadsheet based on whether i am investing in a property as a buy and fix and sell    and different sheet for buy & hold. 

only you know what numbers will work for you.  

my cpa always tells me make more then you spend... that seems to be a pretty good starting point for building a spreadsheet.  

If you have no idea what to put into a spreadsheet a software/ app like the one @Lucas P.
recommended is a good starting point.