All Forum Posts by: Kira Voden

This is a great list. Not much to add other than I have found real estate books a lot less applicable since they are written for a broad basis. I would suggest reading some mindset or human behavior type books. My favorites would be Influence and How to win friends and influence people. Great for thinking about how to find deals and negotiate with sellers/tenants/banks anybody really.

Great take, and I think its sitting on my book shelf waiting to be read!

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Quote from @Charles Carillo:

@Kira Voden

Here are my favorite books:

Multifamily Millions by Dave Lindahl

The ABCs of Real Estate Investing by Ken McElroy

The Complete Guide to Buying and Selling Apartment Buildings by Steve Berges

Commercial Real Estate Investing by Dolf De Roos

Trump: The Best Real Estate Advice I Ever Received by Donald Trump

Tax Free Wealth by Tom Wheelwright

Commercial Real Estate 101: How Small Investors Can Get Started and Make It Big by David Lindahl

Raising Private Capital: Building Your Real Estate Empire Using Other People’s Money by Matt Faircloth

The Definitive Guide to Apartment Marketing by Josh Grillo

Investing in Apartment Building by Matthew Martinez

Crushing It in Apartments and Commercial Real Estate by Brian H Murray

The 7 Secrets to Successful Apartment Leasing by Eric Cumley

2 Years to a Million in Real Estate by Matthew Martinez

Burn Zones: Playing Life’s Bad Hands by Jorge Newbery

Commercial Mortgages 101: Everything You Need to Know to Create a Winning Loan Request by Michael Reinhard

It’s a Whole New Business!: The how-to book of syndicated investment real estate by Gene Trowbridge

Amazing, I'll be reading for a while! Thank you for such a thoughtful list!

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For your tenants that are struggling it may be worth while to see if they qualify for any aid.

I've recently jumped in to help a friend(read tired landlord) who had never raised the rents for a tenant in a side by side that was in the unit for over 10 years. Throughout the years the unit has been updated-new paint, new kitchen cabinets, new carpet, new furnace and water heater. We've been raising her rent $100 every year, it will take us 6 years to get to todays market rents. I'm sure it was a bit of a pill for her to swallow, but I told her the intention was to get her up to market rents over time and I've given her 4 months notice for the increases(we're on year 2 now). She's a great tenant who hasn't asked for anything and taken excellent care of the place- its worth while to keep her.

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I just picked up Landlording on Autopilot by Mike Butler from my local library and so far I've found it has a lot of little gems.

I've also looked into and taken classes at my local Tech college, an introduction to property management class ran about $300, but was worth the investment and time!

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Just checked out Landlording on Autopilot from my local library and really enjoying and getting a lot out of it. Wondering what your favorite real estate investing books are?!

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Tough situation. If you've asked for her to not park in your space and they comply I would just chalk it up to growing pains, they are young. Its only been a week but if you're not comfortable with the GF being there 100% of the time bring it up. If you want to add her to the lease rent goes up. If she's been loud/disrespectful maybe time to part ways. Hope you can figure this out and be back to your ideal living situation soon!

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Seattle, Washington

I prefer layout of A2. Only thought- could you combine entrance for both units? Entry would move where your closet/bench is located, if enough sqft could move closet to across from entry. With entry removed could be enough room for dining table.

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Quote from @Marcus Auerbach:

@Kira Voden you can buy a duplex with owner occupied financing every 12 months. FHA is an option, but does not work so well with our 100 year old housing stock and sellers know that. We have a lender who does 5% down no PMI for OO buyers with good credit.

For a 300k duplex (which would be the average between West Allis and Wauwatosa, but more than you need for Milwaukee) you need $15,000 down payment, $18,000 with closing costs and inspection. So the question becomes how can you save $1,500 per month?

If your W2 does not pay enough, start a side hustle, flip couches, learn how to run Google Ads for small businesses or paint rooms for old ladies...

Once you have your second duplex that should get easier, because now you are definitely living rent free. With 3 duplexes you should see some positive cash flow, which makes buying the 4th one easier. Once you have 4 they should generate enough down payment every 12 months for the 5th without you having to side hustle. That's the point when your houses start having babies ;-)

Any chance you'd be willing to connect me with your lender? I would love to hear what they have to say. I recently reached out to a SCORE mentor and he advised that I have a group of professionals to work with consistently(accountant, lawyer, realtor, lender) that know my end goal.

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Milwaukee, Wisconsin

Quote from @Erickson Sainval:

Read up on HELOC see if you have the ability.

If you have lived into he property for a year or more you can look at getting a primary home using FHA or finding a lender that does 5% conventional.

You can ask your circle of family and friends, create a nice pitch deck of what you did with this duplex, and pitch your idea to them so they can give you capital to do it again.

If you have other assets such as stock you can look at taking a loan against, or liquidating them.

Just a few ideas to get you going. Do your due diligence, and work the numbers.

Thank you so much for the thoughtful response! Some great ideas, can't wait to get going. Really nice to have this platform as a resource!

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Milwaukee, Wisconsin

Hello Everyone, I'm a novice investor wanting to grow my portfolio in the Milwaukee area. I currently own one duplex in Bay View (I occupy one unit and rent the other). Does anyone have any advice on how to use my current property to finance my next? Or really any advice at all would be greatly appreciated.

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Milwaukee, Wisconsin

All Forum Posts by: Kira Voden

Kira Voden has started 3 posts and replied 20 times.

Post: What are your favorite real estate books you've read?

Post: What are your favorite real estate books you've read?

Post: Raising Rent Woes

Post: Looking to expand my Property Management knowledge...

Post: What are your favorite real estate books you've read?

Post: Tenant seems to have immediately moved GF in, despite only him being on lease

Post: Which Floorplan and why?

Post: Growing Portfolio Dreams

Post: Growing Portfolio Dreams

Post: Growing Portfolio Dreams