All Forum Posts by: Mike Lauer

@Tom Ott Thanks very much! I'm excited to be here. I see you're from Cleveland -- that's where I did my first primary residence rehab! 98th and Detroit, just east of Lakewood.

Hello BP Community! 

My name is Mike and I live in Shorewood, WI, a small suburb in the north shore area of metro Milwaukee. I am new to the world of real estate investing, but have spent the past 10 years or so dreaming about it. I'm FINALLY taking action and getting myself educated, connecting with others in the area, running numbers on potential deals, and generally obsessing about my plans. This community has been the single best resource for my education (and inspiration), and I'm really excited to build some relationships with local Milwaukee peeps!

My goal, simply stated, is to cash flow $20k+ per month from rental properties 10 years from now. I think that means 60-75 units, but I'll do whatever it takes. I want to invest in multi-families, starting with duplexes, tris, and quads. I have a good job that pays well which I plan to keep until I realize my REI goal, so I'll be doing my REI on the side. Beyond the income, I want what most RE investors want -- financial freedom, and stability and security for my family.

While buy/hold is my ultimate strategy, I want to flip houses this year and next year to accelerate my capital base so I can jump-start my purchase of multi-family rental properties. 

I've been completely immersed in books, BP podcasts, and these forums for months, and I'm now itching to connect with other investors, wholesalers, agents, and contractors. I'm hoping to get some advice on the best ways to network, both here on BP and out in my local community. Here's what I'm wondering about:

1. What is the best etiquette for introducing my self to other REI pros? By now I've read that I should include a note with a bit about myself, but beyond that I don't really have a feel for it. I've started winging it a little, but I'm not totally confident that I'm "doing it right."

2. Is it appropriate to post a topic when I'm looking to connect with particular types of people? For example, if I want to find wholesalers to work with in Milwaukee, do I just cast a wide net on the forums here at BP? What other ways (other than google) would work for connecting with like-minded investors and pros?

3. Is it worthwhile to meet up with local banks and conventional lenders while I'm in the exploratory phase, or should I wait until I find my first deal? I'm hungry to learn from others, and to see what opportunities are out there in terms of financing and credit, but I don't want to annoy or waste anyone's time.

If you've read this far, thanks! This is my first go at really putting myself out there, and I'd appreciate any and all comments and thoughts!

Mike 

@Jay Hinrichs all good points -- I think you've summarized my own hesitation in working with them. Thanks.

Following this thread. I'm looking into working with them for my first fix and flip. Some really negative reviews out there about their business model, but it also seems like those who had bad experiences either didn't produce good enough deals to meet their underwriting guidelines (true for any lender), or didn't really understand the terms of the program.