All Forum Posts by: Calvin Ozanick

Something I have found is that if a tenant is providing fake pay stubs, their employer may not give the best review. When I contact a work supervisor, I am able to get much more information than verification of employment. I find that if you ask questions about tenure, punctuality, workplace disputes and other things of that nature, you are able to get a better feel of the tenant.

Also, when I interview tenants, I would simply ask them questions about the pay stub. Hours worked per week, hourly wage, etc. This way, you can verify if the numbers add up or not. 

I am wondering about the opinions of the bigger pockets community on this one. I recently had someone ask me, why do you feel someone should invest with you, as opposed to working with a company that will do the investing for you and handle all of the issues? I would like to hear your opinions on this topic. Do you feel that if you hire the right property manager, it would be more beneficial to invest in the properties yourself? Or do you think large syndication is the way to go. Obviously, both hold their own risk, however, I am curious to see how the BP community views this topic!

It looks like a great deal to me. Best of luck as you move forward with it. The benefit of this would be allowing the other tenants to pay for your ownership. Moving forward, you can continue working on it and get your loan paid down. In the future it could be a great cash flowing property while being a perfect buy and hold. 

I have had this issue in the past with my Section 8 tenants. It is often nerve racking because you might go without hearing from them for very long periods at a time. I would consider posting notice on the door of you entering the unit within the stated time mentioned on your lease. Then, I would inspect the unit to make sure everything is okay! Best of luck. I am sure you will not need to call the police however. 

@Melissa Kirchhoff

Melissa, as I mentioned for Tim, the same goes for you. If you are interested in learning more about the rental market in southern Wisconsin, I would be happy to meet up and share some knowledge. We currently manage for people around the country and they have found great success in the area. Some of our landlords are getting returns between 14-20%. Please dig into some of the numbers and see if you would like to learn more! Best of luck on your goal, I hope you can get to that complex very soon here!

Tim,

I think this is the perfect place for you to be sharing something like this. I enjoyed reading your plan. Being the relative proximity between us, I would be happy to meet somewhere in between any time you might be interested. I too share your passion for real estate. As to where you purchased your first property, I started a property management company. This has allowed me to learn in a hands-on style from the time my company started. I have since partnered with real estate agents in Janesville, WI and my personal mentor is a local broker. I feel that we could help you greatly because if you were interested in working with us, you would not need to relocate. We work with multiple clients who live on the west coast, and we also have a client who lives in Australia, so distance is no issue. Being that Chicago is so expensive, you could look around on BiggerPockets in order to find deals around the country. Looking around and finding good property managers can allow you to really begin to expand your portfolio and find deals all around the country. Feel free to reach out if you have any questions! Best of luck, and thank you for sharing your plan with us!

Rachel, you actually do not need to file for an eviction either. In the case of the lease being a month to month, you can end the lease as long as you give notice as required in the lease. While disability often creates more hoops to jump through, unless you signed paperwork stating otherwise, you can move on from them as tenants. That is the beauty of a month-month lease. I wish you best of luck on this issue! I have had this issue with some of our tenants in Beloit, WI. We manage multiple multi-family properties and they have occasionally needed to take advantage of our month-month lease. 

Bob,

I currently manage rental properties in Janesville, WI. This is about 1 hour 15 minutes to the west of Milwaukee. If you are looking in the Wisconsin/Midwest area. I would highly recommend moving west of the city. This is simply because costs typically run much higher in those areas. If you would like to see some sample deals of ones we have recently done in Janesville, please let me know!

Kyle, I am a local manager in Janesville, WI. I am glad you hear you are taking the leap and looking to get into real estate. Should you be interested in learning more, please reach out as we have helped many investors get their first start. Otherwise, as Ben stated, keep reading and listening. The more people you can surround yourself with make things much easier. I wish you the best of luck!

Kyle, should you still be looking, we have had great success in Janesville. We are a full-service property management company in Janesville, WI. Cities like Beloit and Janesville have been excellent for our out of town investors. Both towns are on a significant upswing as far as outside involvement and interest in developing the areas. If you have any more questions, feel free to send me a message or reply here!