All Forum Posts by: Jack Medford

@Mike L. Unfortunately, no. I got that data off the MLS. It is one of the unfortunate things about the real estate industry, data is locked behind a paywall.

I'm not adjusting my underwriting yet, since the level of overall inventory remains historically low. That said, I am becoming more and more careful to not overextend myself. I am still investing, but I am also consolidating some of my capital to make sure I am in a good position, no matter what goes down. 

Hi Mike, nice to meet another investor from Mount Horeb!

I did a quick search on Multifamily (MF) for Dane County as well as Madison to see what the numbers say. Here are the 30 Day Averages for Daily Listings, going back to 2018. 

We appear to have that V recovery so many talked about at the beginning of the shutdown. We see a steady rise in Daily Listings since the beginning of June. In the last 2 weeks, we've seen yet another spike in Daily Listing. Madison appears to be driving this surge, compared with the surrounding area driving the previous surge.

I wouldn't get too excited just yet though. We are still within the normal range for new inventory, at least by 2018 & 2019 standards. 

If you're interested in learning more about specific locations I can zoom the data in a bit for you. 

I am following some individuals working to bring wealth to their communities. Ayesha Selden is someone I follow who has done a lot for herself and is now educating others. There are others I follow who say, "We have to be our own solution."

I would say if you want to help solve the racial disparity in homeownership, get to know the people you want to help. Be a member of the community you want to serve. 

I've done some investing in the Milwaukee area. I also know a few investors who focus on the southern part of the state, Janesville and Beloit area. Good cash flow and high enough population for there to be good management options. 

Since you're already pre-approved, I'd recommend agent shopping. Definitely talk to a few and get their input on the lender front. They may have recommendations that can be tailored to your situation. 

Keep in mind that an agency agreement works differently than getting pre-approved. So don't sign an agency agreement until you feel really good about your agent. 

I'd buy 15+ acres of land near one of my surrounding towns and build a simple house along with extra garages and storage sheds. I'd live on the back of the property and have the storage up front where I rent out to people in the community. I'd pay cash for everything so it is all owned outright and I'm debt-free. 

Based on prices around me, I could accomplish this and still have around $250k leftover. I'd use some of that to ramp up my marketing and get a higher deal flow going. 

The rest would be split between real estate deals, stocks, private lending and btc.

Hi Elise, welcome to BP! We've got a nice local scene of investors here, which includes a bi-weekly meetup put on by a couple BP members. 

I do a lot of local property data crunching, so let me know if I can help in the numbers department at all. 

You should get a new tool for every house. Golden screwdriver. Golden saw. Etc. Finally, a golden toolbox to hold it all. 

That way your partner can feel real fancy as he uses the golden tools to fix the place up. ;)

I agree with @Wade B. about looking for the next house hack. 

I'm guessing since you focused on paying off your mortgage you aren't really a fan of debt? That means you'll grow your portfolio slower then if you were to leverage up, so sticking with house hacks will probably provide the fastest way to scale.

That said, it somewhat depends on what your goals are. What are you looking to get out of real estate long term? Is it a way to replace your W-2? Just planning for it to be part of your larger investment portfolio? 

Hard to give solid advice without knowing what you really want for yourself long term. 

@Teresa Thomas I own properties with @Dave Corfman in Milwaukee, but have yet to make the jump to Rock County. Just wanted to chime in to say that he is a great resource. Also reach out to @Garrett Davis as he handles the main PM duties (as far as I understand it) for Dave's rentals in Rock County.