All Forum Posts by: Jake S.

Hey All!

We are getting a larger Apartment Building under contract in Milwaukee shortly and are in need of a solid property management company referral!

Any help is appreciated

Hey Hannah!

I do both. I usually get referrals, but I'll also do my own research and reach out without any formal intro

I do the same, I use a HELOC to make stronger offers (or I did, but I have since ventured into multi family syndication and raise money with my investors)

Use a HELOC to make a strong cash offer, generally buy the property for below market value, build equity into it, and then refinance and repeat!

@Matt Maurice I'll send you a message right now

Hey Tom!

Explain to him all of the benefits. It'll provide him with long term passive income, maintenance free living and a financial peace of mind.

If you do get it, since it is owner financed (or will be), negotiate at least a price of 80-90% ARV, so just in case anything happens, you already have built in equity to go in and fix this place up with.

It can be a HUGE win win for the both of you, just be sure to stress all the benefits to him about it.

ALSO, can you charge enough rent (for your area) to make sense?

I also have a SFH rental in KC by the way!

Hey Brett, Im not QUITE at the stage of needing an intern for this, but im currently syndicating a large apt complex in Wisconsin but have you checked out all the resources on BP as well as @Michael Blank book on "Financial Freedom With Real Estate Investing" ? Itd help you tremendously!

Your choice I guess! A smart lock box sounds nice though!!

Hey Dave, I could be wrong about this and although he is not local to NC, @John Woodrich might have a definite answer

But is your LLC a sole member pass through? If so, I dont see any problems. I am currently doing the same thing with one of my properties and it didnt cause any tax implications

Hey Evan,

I wouldn't recommend leaving it in stocks as those fluctuate a lot especially for the short term.

You could put it in a money market account or a high yield checking account that earns 2% interest or more.

You just dont want to put it in something that fluctuates too much or is not liquid enough

Yup! Do a lock box somewhere on the property, it is pretty standard.