All Forum Posts by: Brock Y.

$60K rehab for a property that will be worth $30K when it's done is the big reason. 

@Tom R. Are the potential future deals still going to be 50/50 investment? If so, I would consider looking for different partners. There are many people with loads of liquidity that would be happy with the 10% interest. If this is just a trial to see how the partnership will go and he will be a 100% investment silent partner for future deals then I would take the current deal as he proposed. 

Your best bet is to find a private lender or partner.

I live in Chicagoland on well and septic. Other than the costs that others have mentioned it's not bad. Well pump, pressure tank, and filters/softeners as cap expenses. Around here iron and h2s is high. But no water/sewer bills! That's a bonus.

@Marcus Auerbach thanks for hosting this event. It was very unique and great to get your perspective as well those that attended. 

@Craig Carmichael as @Patrick Bertrandt mentioned, Racine and Kenosha are pretty different from one another. Racine has more crime, etc. Kenosha has some growth opportunity in my opinion with the industry thats coming in as well as lots of commuters to the northern IL burbs. Could also look at other communities around there: Salem, Pleasant Prairie, etc.

You can restrict newbies to only be able to start a thread in the newbie category (many forums do this) until they hit X amount of posts. They can post on other threads. This would make the average motivate person to use the search bar function and find people asking the same questions they want to know the answers to but can't yet post it on their own. Would consolidate tons of repeat threads.

All the above options would be what I would do. Other option is to look at private money or bring on another investor as an additional partner.

Personally I feel it would create more issues due to business owners having to select one candidate at $15 vs 2 candidates at $7.50. The process would be more selective therefore people with more qualifications would be getting those jobs. It would work against the people that it should be targeting creating more disparity. I've had conversations with people who have said they would leave their entry level office jobs making $30-$35K a year to go work at Starbucks for less work stress and basically the same pay if it passes. That would add another layer of candidates to the pool for that job. So it depends on your tenant base as to whether it's good or bad. If you are in lower income areas it might not be as good as you would think because you will have a few with more money and more with even less money. Middle to higher income areas may not be affected as much.

Tim Nelson just an opinion but well below market deals usually carry some inherent risk. Hence the deals of "amazing cash flow" talk here on BP of the D areas of Milwaukee. Smaller college towns have a more consistent and reliable rental base which makes it less likely to find the same below market deal but ultimately less risk. Not saying they are not out there but you will have to work harder.