All Forum Posts by: Calvin Ozanick

Thomas, investing in southern Wisconsin, we have dealt with a couple of evictions in our lower income areas. One of the things I came across is to not let it get out of hand. We stick by the standard of serving a 5 day notice once rent is considered late, and then following through with the eviction after the notice comes due. 

While it is never fun evicting someone, nor does it help our income, I find that making exceptions for other tenants or breaking procedure to help someone out only hurts in the long run. Tenants have an obligation to pay just like we have an obligation to take care of their unit. Once we came to this realization, it has made our development of further processes that much more important. 

Thomas, one of the best ways we have found in finding properties is contacting an agent and having them do a lot of the work for you. People like myself, or other property managers in the area are able to get a head start on properties for sale. They may also be excellent at finding off market deals through their local real estate connections!

Lucas, I use the current WRA (Wisconsin Realtors Association) This lease works well because it is updated yearly, and follows all Wisconsin guidelines to a T. 

I just went through this with one of our tenants. Unfortunately, it is illegal to collect any extra money because of a service animal here in our area. Service animals are not considered pets in Wisconsin, but rather necessities. We found that it is much easier to avoid charging for service pets. However, as a landlord here, we are able to request all documentation for the animal in question. Also, we can deny or charge extra for the animal if they do not have a disability that requires emotional support animals, or service animals. I hope this helps!

Does anyone need a property manager in the southern Wisconsin area??

@Andrew Johnson

Thank you for being so detailed. I am not, per say, apprehensive, but any investor wants to keep profit margins high. I am facing the dilemma in the fact that I wonder if starting now outweighs my patience and coming in to swoop up multiple properties when the time is right. I want to buy and hold and create a passive cash flow. It also makes it easier because of me working for a management company and I can bring the properties I bring in under that umbrella. I am currently leaning towards preparing for the future for a bit longer still and if it does not fall, then I am just more prepared. 

Do any of you feel that waiting until the market starts to come down is a much more effective approach for those looking to purchase their first deal? Or would you recommend that now is still a good time to get started. 

I am curious about any tips for property management. I live and work in southern Wisconsin and have just been hired as a property manager. If you have any tips or ideas about how to be more successful and create a great product we can offer to our management clients I would be very interested to hear them! Thanks in advance!