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All Forum Posts by: Derric Johnson

Derric Johnson has started 3 posts and replied 12 times.

Post: chain o lakes rei meet up

Derric Johnson
Pro Member
Posted
  • Fox Lake, IL
  • Posts 13
  • Votes 4

this will be our second meet up as long as the weather is nice ill be on the deck. hope to build a great meet up 

we do have a facebook page with all info and it is chain o lakes rei meet up 

Post: Fox Lake Illinois Waterfront Short- Term Rental

Derric Johnson
Pro Member
Posted
  • Fox Lake, IL
  • Posts 13
  • Votes 4
Quote from @Brandon Kurdziel:

Anymore insights on the area or experience? @Derric Johnson you say you can't do it in Johnsburg but it looks like they have an ordinance and it is allowed: Johnsburg Airbnb Ordinance Click Here . There are some restrictions, but looks like it is allowed. Thanks!

i was just reading over it and looks like you cant rent it shorter than 7 days and looks as thought it needs to be zoned b1 and up but anyway in my opinion str wont make any money in the area the occupancy rates just aren't there to cover the costs. i mean if someone what's to do it by all means have at it but im out.

fox lake is limited to i believe 60 rentals at any given time but again if you look at the Calanders of the existing listings they're just not booked very much 


Post: Real Estate Investing Happy Hour and Meetup

Derric Johnson
Pro Member
Posted
  • Fox Lake, IL
  • Posts 13
  • Votes 4

I really wish I didn't miss this.. my brother and I are looking for meet ups to attend. do you have any others coming up in the future?

Post: Fox Lake Illinois Waterfront Short- Term Rental

Derric Johnson
Pro Member
Posted
  • Fox Lake, IL
  • Posts 13
  • Votes 4

@Shawn Good I live in fox lake. From my understanding it’s not easy to do it here. I know johnsburg you can’t do an str at all fox lake and lake county yiu need permits. Which isn’t a bad thing. Since you’re not looking for a profit it might work but probably won’t rent in winter. I know the neighbors around here aren’t much fans of short term rentals so you man have an issue there.

Post: Northern WI / Eagle River

Derric Johnson
Pro Member
Posted
  • Fox Lake, IL
  • Posts 13
  • Votes 4

hi kyle, i was wondering if you did purchase a str up there my wife and i are looking to purchase one soon and had a few questions was hoping maybe you could help with. mainly where or how did you find a cleaner there 

Post: Short Term Rentals - Risks of Regulation

Derric Johnson
Pro Member
Posted
  • Fox Lake, IL
  • Posts 13
  • Votes 4

@Keith Schulz

I am looking in Vilas county or iron county. I like Vilas county I thought they were pretty easy with them but I knew you have to go through the health department I’m looking at a place in Boulder junction. I know of a good amount of them up there. I was going to really look into it a lot more hence why I’m here researching.

Post: Short Term Rentals - Risks of Regulation

Derric Johnson
Pro Member
Posted
  • Fox Lake, IL
  • Posts 13
  • Votes 4

what part of northern Wisconsin are you in? I am currently looking for property there and haven't heard anything about it being heavily restricted. I currently have a str in the upper peninsula and there are zero restrictions in my area there. I am looking to get three more next year in Wisconsin  

Post: Wisconsin Cabin STR

Derric Johnson
Pro Member
Posted
  • Fox Lake, IL
  • Posts 13
  • Votes 4

Matt. Castle and green lake. Will do well in summer but not so well in winter. You’ll want northern counties to be able to rent year round. I like Vilas county but iron county and sawyer counties are also good. I am currently looking for a property up there now. I own in the upper peninsula in white pine and it does great.

Post: form that tenants fill out when buying a property

Derric Johnson
Pro Member
Posted
  • Fox Lake, IL
  • Posts 13
  • Votes 4

hey guys I can't remember what thew form is called that you have existing tents fill out before you close on the property to state what is theirs and if they're owed any money or not I'm sure someone here will have the answer for me thanks guys

Post: What they don't tell you about cheap rental properties

Derric Johnson
Pro Member
Posted
  • Fox Lake, IL
  • Posts 13
  • Votes 4

@Marcus Auerbach thank you. I am a new investor and actually want to invest in Milwaukee. What you just explained was my first thought. Now after more research and hearing this exact same thing from a few others I am not going for the super cheap. I am also going to start coming to the meet ups and learn way more about the area