All Forum Posts by: Kenny Wolfenberger

@Dion DePaoli , thanks for the explanation, that definitely helps to clarify things.

Also, I should have said "what are some legal alternatives to this" - I certainly wouldn't be soliciting advice on how to legally break the law on BP :)

Thanks @Ned Carey . Just to clarify, if the lenders are passive (not working directly with the property) and they are accruing interest on the loan - would this be considered a security?

At a recent real estate seminar I attended the presenter said that it is illegal to commingle funds from different private lenders to purchase a property. The example he used was borrowing money from 2 relatives (50% each), sticking it into the same bank account, and then using it to pay for a property.

Is this really illegal? If so what are some ways to get around it? Any additional explanation of the laws related to this topic would be much appreciated as I haven't been able to find much Googling.

Thanks @Ramon Jenkins , I'll check those companies out!

@Zechariah Evans, I haven't thought much about getting my brokers license because to me it just seems like more than I need at this point. I'm pretty much just looking for a brokerage to hang my license at, and I'd be more than happy to give a portion of commissions for that. While I might want to represent buyers I know on occasion, my main purpose would be to make offers on properties to flip without having to go through another agent.

Hi all,

I recently passed my Wisconsin real estate agent test and would like to begin working with an investor-friendly brokerage in the Madison area. Does anyone have any good recommendations? I'd like to have the MLS access and be able to write offers myself to help my real estate business without having to commit to representing buyers/sellers full time.

Any ideas would be much appreciated!

Thanks for the welcome!

Hi All,

I'm fairly new to the real estate investing arena, but am looking to start dedicating a lot more time to it. This has been an intellectual passion of mine for years and I've devoured every form of media available on the subject of real estate; now it's time for action!

I've been working in Healthcare IT where I've acted as project manager for several multi-million dollar installs, but I'm realizing this is not the career path for me. I'm looking to make a change in a BIG way and am now preparing to make the jump into real estate investing full-time.

I'd love to meet some mentors who've been in the Madison market and are willing to chat about their experiences here, in any niche of real estate. My plan is to start out wholesaling, gradually get into rehabbing, and build a portfolio of passive-income properties over time.

Looking forward to getting to know the BP community!

One more tidbit on the Madison rental market--this was from an article in the Capital Times:

"Vacancy rates in Madison have fallen to 2 percent, the lowest level since Madison Gas & Electric began tracking them in 1995. The Tenant Resource Center notes that a recent Craigslist post for a sublet in downtown Madison drew 25 responses in the first three hours."

Read more: http://host.madison.com/business/biz_beat/the-lowly-renter-as-housing-bust-drags-on-state-rolls/article_6545590e-88dc-11e1-9231-001a4bcf887a.html#ixzz2ROOhkuic