All Forum Posts by: Steve B.

@Sue K. Verbal agreements aren’t “illegal”. They are usually just unenforceable, especially when it comes to real estate.

@Merritt S. No, in Wisconsin a verbal contract can be binding, but just like everywhere else, no when it comes to real estate.

https://www.wra.org/WREM/July13/Writing/

@Cory Hinton real estate is fairly inelastic and thanks to big government it’s only getting more inelastic. This the number one driver of rents and prices in general is supply vs population as population is usually synonymous with demand. A declining population leads to a non-linear decline in rents and values. But yes, you can make money in a declining market. I wouldn’t try it, but it can be done

@Chris Elkendier NM I see you wrote STR, Than 1-2 makes more sense usually

@Chris Elkendier buy 3 , that’s a better option than the binary choices you mentioned

@Robert Hanson 600 fica is still pretty low. I’d aim for at least 640. Hours he average American has 700 and leasing a car takes at least 640

@Amalfi Duran “per their word” and real estate law don’t mix

@Mark Fries it gets better, a two week renovation that's is "little" as to not affect the tenants and it raises the ARV over 30%. I need to find a deal like that

@Eric P. Your CPA is there to make your life easier. If they stress you out then get a new CPA. To make your life easier in the future you should open a separate bank account with its own checks and credit/debit attached to your property. This will make breaking down your expenses much easier for you as money is flowing in and out of a lot of disparate sources

@Todd Ashley IMO dint think prioritizing the liability potential of earthquake affecting Portland should be a main criteria for analyzing a deal