All Forum Posts by: Kevin Stein

Long layover at the airport so I'm catching up on some BP reading and looking into getting my real estate license.  I'm finding a lot online regarding training options and classes but was just wondering if any fellow Wisconsin BP members had advice on the best ways to go about getting my license.  Thanks in advance!

Thanks for your feedback @Jon Holdman 

I should have also mentioned that I too have been very lucky with my month to month leases.  My current tenants are 2+ years and 3+ years.  That probably skews my opinion.  If I get burned by a couple short termers, or get left with a property in the middle of a Wisconsin winter I might be singing a different tune.

Hi all,

I'm just starting to get back into the RE game.  I currently have a duplex in addition to my primary residence.  I'm working with a realtor now to add another rental.

One of the things I feel pretty strongly about from my experience renting my duplex (since 2008) is that I am a huge proponent of month to month leases.  I am of the mind that if a tenant does not want to be in my property then I don't want them there.  This seems to fly in the face of most opinions on this site.

So obviously turnover could be higher, and that turnover could come at inopportune times (December), but is that really enough for me to reconsider my philosophy?  Isn't the hassle of a messy eviction at least as bad?

Thanks!

Thanks for all the warm welcomes everyone!

Just a quick update on my end:

I've been reading as much as possible on the forums, and elsewhere.  I've also run through about 8 BP podcasts in the past 5 days so I'm doing my best to ramp up ASAP.

I have a couple inquiries into some local banks, etc. to see what kind of traditional financing options I'd be approved for.

And I'm planning to check out a couple open houses this weekend. I'm not expecting to find a place to buy as I'm sure these MLS homes listed with agents aren't going to give me the numbers I need. But I do want to start getting more familiar with what kind of inventory is available, prices, rents, etc. I'm sure a lot has changed since 2008 when I bought my first rental.

Thanks again everyone, happy to be part of the "team"!

@Bradley Benski you must be a pilot.  Judging by your pic and reference to Oshkosh this week.  It's a very busy time of year right now with the EAA Air Venture in full swing.  Too bad you couldn't come up to check it out this year.

Hello BP world!

My name is Kevin Stein and I just joined the BiggerPockets community over the weekend.  How did I not know this place existed?  You guys rock!

Anyway, a little about myself:

I'm 32, married, with a 1 year old daughter at home.  We've lived in Oshkosh, WI our entire lives and don't plan on moving.  Since most probably don't know where Oshkosh is, if you draw a line from Milwaukee to Green Bay, Oshkosh is right in the middle.

In terms of real estate, we own our primary residence and I have also owned and rented a duplex since 2008.  I purchased the duplex to live in and have the other renter offset some of my mortgage payment.  Needless to say, I did not buy because of the "numbers".  I bought it because I liked the place, the location, and I could afford the mortgage payment.  Luckily it has been very good to me with great tenants and very little turnover.  I'm not getting rich on it, but it pays for itself and kicks off a little extra cash each month that I'm able to stock away for any big maintenance issues that might come up.

Moving forward I would like to accumulate additional residential rental property to hold and rent.  BUT, now that I have a little more experience (and a great support group like BP) I intend to be much more picky on the finances of the properties.  Ideally I want to start with properties in my area and I'd rather pay a bit more for a nicer place...even if that means a little less cash flow.  I just like the idea of less maintenance, higher caliber of tenant, etc.

Initially I plan to be very conservative.  If I would purchase 1 property a year I think that would be knocking it out of the park for me.

So, thanks for having me in the group!  I plan to do a TON of research and hope to be ready to buy another property by the end of the year.