All Forum Posts by: Nolan Baker

@Nolan Baker definitely a question for a lawyer. Where are your rentals? I grew up in Minocqua and went to school at UWSP. I enjoy hearing about people who own rentals in these areas.

A couple of quick things to think about:

1.) I think you can provide a value to the local landlords around you. Building those relationships can lead to more opportunities, growth and ultimately more deals. However, make sure you are always adding value to others.

2.) (This is not legal advice) If you have ownership, you should be allowed to manage... Depending on your relationship with these other investors, can you trade management services for partial ownership?

3.) Getting your RE Agent license is not very difficult. Why not get your license and sign on with a broker that will allow you to property manage?

Plenty of options for you. Just remember to always be providing value to others. Good luck!

Thanks for the reply!!!

It's a great area around here - I came for grad school and stayed for a girl =)

2. hmm that's an awesome idea, definitely something to discuss as an option with my lawyer!

3. I have thought about this as well! Not outside the realm of possibility at all!

Value, value, value. Love it!

So upon further review, it looks like it needs to be RE broker, not just n agent to be on the team and that requires two years of working under another agent/brokerage - bummer!

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Quote from @Philip Cook:

@Nolan Baker this sounds like a question for a lawyer.

Great idea, Philip. I do have a lawyer that I've worked with here, maybe with some of the suggestions that folks are giving here I'll be able to formulate a better plan to bring to her.

That's awesome you're out of the Point area, do you manage or who have you heard does a good job of management?

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Quote from @Bryon Andrews:

@Nolan Baker definitely a question for a lawyer. Where are your rentals? I grew up in Minocqua and went to school at UWSP. I enjoy hearing about people who own rentals in these areas.

A couple of quick things to think about:

3.) Getting your RE Agent license is not very difficult. Why not get your license and sign on with a broker that will allow you to property manage?

Plenty of options for you. Just remember to always be providing value to others. Good luck!

Thanks for the reply!!!

It's a great area around here - I came for grad school and stayed for a girl =)

2. hmm that's an awesome idea, definitely something to discuss as an option with my lawyer!

3. I have thought about this as well! Not outside the realm of possibility at all!

Value, value, value. Love it!

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We went back to wet-signing leases, because it is your only chance to educate tenants on what the lease actually says, what their responsibilities are, how to operate and maintain their property, what to call you for and how you prefer to communicate etc, etc

Thanks for the great reply!

Do you do PM for others?

Would you ever do e-signatures with a zoom call?

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Hi!

I am in North Central Wisconsin - I have 7 doors that I self manage and know of several others in this area who own/manage as well.

I am using Avail which allows for e-signatures. I know that in WI we need to have a realestate agent on a property management team if there are to be signatures which are not the owner of the properties, however, my question is if I start an LLC property management without a real estate agent, but have the LLC operators use the Avail app to post the property and they use avail in which the owner signs the lease through the e-signature, then would that "hybrid" option legally work? Obviously this would be an opinion.

Is there another structure of business which I should be considering to structure this under vs property management?

I have lined up trusted operators which I would be using to manage the property and reply to tenants etc. I am not looking to grow this into something massive, just provide time freedom for some owners and cashflow monthly for the operators.

Thanks!

1 Vote

All Forum Posts by: Nolan Baker

Nolan Baker has started 1 posts and replied 7 times.

Post: Wisconsin Property Management License

Post: Wisconsin Property Management License

Post: Questions on structuring LLC for PM using owner to e-sign lease and members to manage

Post: Questions on structuring LLC for PM using owner to e-sign lease and members to manage

Post: Questions on structuring LLC for PM using owner to e-sign lease and members to manage

Post: Questions on structuring LLC for PM using owner to e-sign lease and members to manage

Post: Questions on structuring LLC for PM using owner to e-sign lease and members to manage