All Forum Posts by: Corina Eufinger

Northern Georgia, North Carolina, Michigan, Wisconsin, Missouri. 

Locally Mach1 Capital and Milwaukee Hard Money are the best options.

@Marcus Carr, when you are looking to invest from a distance you need to build a team that makes sense for you and how you like to do business.  Just because someone is recommended as working well with OOS investors, doesn't mean they will work well for you.  Since you aren't going to be there in person you need to find someone who's easy for you to talk to and have a similar communication style.  They should be someone you feel at ease communicating with.  Just because they come recommended doesn't mean they should be your first choice as an OOS.  

@Jordan Alexander It's all about networking locally.  The best way to find the best insurance agents, realtors, pms, and contractors is to ask around and see who people are using in local groups.  If you haven't done it yet, check out some FB groups locally there are at least 2 good ones I can recommend.  When you are at a disadvantage distance-wise, you need to be sure you are building strong reliable local relationships.  Because you rely on them more you have to get along personally.  I like to call it the "have a beer test".  If someone approaches me to work with me I make sure they're a person I would call to grab a beer and just converse about life, etc.  This way I know we won't have any problems in communication style, etc. 

Hit me up if you need any help finding connections. I have a pretty big rolodex 

There are two schools of thought to this....if you are wanting to become a real estate agent to serve others the era of being successful as a part-time agent is coming to a close. To really be successful in your career as the market becomes less of hunger games free for all, you have to be able to 100% focused on real estate.  The last thing on earth you want is to spend $3000 in the first year and only close on 1 property (that analogy is based on WI expenses for becoming a realtor).

If you are looking to do it to write your own offers in CA, then yes it makes sense IF you will produce the volume that offsets the expenses (i.e. monthly MLS fees, annual Realtor dues).

Once you get an idea of who much it costs to start up AND then continue as a Realtor in CA you may be able to make a more sound decision.

@Jody Sheehan I recommend Mach1Capital (you can find them on FB).  A decent secondary option is Milwaukee Hard Money.  

I think you need to look into your state and city's ordinances and statutes regarding rental properties.  There are other cities and states to invest in that are considerably more landlord-friendly (more equally balanced in rights) than Illinois is. You will find that Wisconsin, Indiana, and Iowa are some of the states that are better.  

As for managing remotely, it is critical for you to start building your trusted local team BEFORE you look at properties.  Start connecting with PMs, realtors, etc to be sure your decision isn't rushed.  If you don't find a good support system in one market, move on to the next.  Once you find the network that feels right, start finding properties they can help you purchase and own. 

My recommended states are Wisconsin, Iowa, OK, KS, and Indiana.  It really is a midwest boom right now.  Steer clear of Illinois and Minnesota (IMO).  

I would definitely do some research on how the programs operate in each city you are considering. Enforcement and rules can vary dramatically even though it is a federal program.  I.e. Lake County Section 8 holds the landlord responsible for everything including tenant damage. I once had a landlord who had to PAY SOMEONE to clean an OCCUPIED apartment because it failed housing for cleanliness and Lake County placed the responsibility on him.  In Kenosha County they remove the liability from the landlord for tenant damage and cleanliness. I've had tenant damage that they require the tenant to fix or pay us for within 30 days.  Some Housing Communities can be more of an ally to you than others so research other people's experiences in those areas.  

AirBnb cannot "police" local ordinances, the sheer overhead of that would drive up their costs exponentially.  Those listings are breaking the rules.  It is your responsibility to set up your AirBnb profile so it meets the requirements of the local ordinances. Whether that be the duration of stay, disclosures, etc.  

And I'm don't agree with the advice that if they can't be bothered to return your phone call they aren't serious about enforcing it. That's a sure-fire way to get into trouble.  You already know the ordinances are there, they are passed they are 100% enforceable regardless of whether they return your phone call or not. Since the Dells is a huge tourist destination it may simply be they are incredibly overwhelmed and understaffed.  Start out by following their guidelines to the best of your ability based on the ordinances.  If you find yourself gaining their attention at least then you would have an open line of communication and in my experience if you serve honey, nearly any municipality will work with on their first contact with you.