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All Forum Posts by: Philip Cook

Philip Cook has started 12 posts and replied 82 times.

Post: Homeowners insurance for first-time multi-family investor

Philip Cook
Pro Member
Posted
  • Investor
  • Stevens Point, WI
  • Posts 82
  • Votes 49

@Max Servais talk to C4 Insurance out of the Madison area. They understand our industry very well.

Post: Anyone have an STR in Nekoosa Wisconsin area?

Philip Cook
Pro Member
Posted
  • Investor
  • Stevens Point, WI
  • Posts 82
  • Votes 49

@Jordan P. might. 

Post: SE & Central Wisconsin Wholesalers

Philip Cook
Pro Member
Posted
  • Investor
  • Stevens Point, WI
  • Posts 82
  • Votes 49

I would check out the REIAs in the area. WiscoREIA has locations in Kenosha and Madison. I know there is at least one other one in Milwaukee, but I'm not sure the name of it. 

Post: Looking to start Real Estate Flipping

Philip Cook
Pro Member
Posted
  • Investor
  • Stevens Point, WI
  • Posts 82
  • Votes 49

@Ryan Hoganson there are a fair number of us active in Central WI. If you want to meet up in person, WiscoREIA meets at The Bar in Rothschild on the third Monday of the month at 6:30 pm. Feel free to reach out if you'd like to talk more.

Post: Want some market insight and networking opportunities

Philip Cook
Pro Member
Posted
  • Investor
  • Stevens Point, WI
  • Posts 82
  • Votes 49

Welcome to town! As long as the numbers make sense, it's always a good idea to invest. If you don't mind roommates, house hacking also works. Due to the university, the ordinances are pretty restrictive. In an owner occupied unit, you can have 3 unrelated individuals. Non-ower occupied you're limited to 2.

There are a few of us in town that are here on BP. There is also the Central WI chapter of WiscoREIA that meets at The Bar in Rothschild at 6:30 pm on the third Monday of the month.

Post: Starting the Journey

Philip Cook
Pro Member
Posted
  • Investor
  • Stevens Point, WI
  • Posts 82
  • Votes 49

Welcome @Jake Theis! I would suggest networking. There is a ton of knowledge here, but meeting local people is great as well. WiscoREIA has a group that meets in Rothschild at The Bar the third Monday of the month and has a Central Wisconsin page on Facebook. There is also an apartment owner association in town if you're looking at Point specifically. 

Post: Greetings from Wisconsin!

Philip Cook
Pro Member
Posted
  • Investor
  • Stevens Point, WI
  • Posts 82
  • Votes 49
Quote from @Steph Kemp:
Quote from @Philip Cook:

Hi Steph. I'm a little west of you in central WI. There are a bunch of us scattered all over the state. I known I've grown a lot by networking with other investors. I'll put a plug in for WiscoREIA. I finally talked Nicholas into joining me in Wausau a while back. There are meetings in Green Bay, Appleton and Sheboygan that would be a bit closer for you.


 Hey Phillip, thanks for reaching out!  Yes, I'm from Antigo (currently work in Antigo) but live closer to Green Bay now so many of those meetings could be easily accommodable!  Thanks for putting the plug in in,...I was trying to find a group to begin following (BiggerPockets was one;), but also a group where meetings where held, to begin networking.  WiscoREIA is great!  I'd be interested in attending the Central Wisconsin meeting, (I'm assuming those are in Wausau), only because I've made that drive a million times,...but open to the other locations as well!  Please keep in touch!


 The next meeting is 6:30 pm Monday the 15th at The Bar in Rothschild. It's the 3rd Monday of the month at the same place and time for the last couple of years that I've been attending. 

Post: Greetings from Wisconsin!

Philip Cook
Pro Member
Posted
  • Investor
  • Stevens Point, WI
  • Posts 82
  • Votes 49

Hi Steph. I'm a little west of you in central WI. There are a bunch of us scattered all over the state. I known I've grown a lot by networking with other investors. I'll put a plug in for WiscoREIA. I finally talked Nicholas into joining me in Wausau a while back. There are meetings in Green Bay, Appleton and Sheboygan that would be a bit closer for you.

Post: Starting New Handyman and Home Renovation Business

Philip Cook
Pro Member
Posted
  • Investor
  • Stevens Point, WI
  • Posts 82
  • Votes 49

Are you planning on covering the Stevens Point area? There is a huge need for people to do what you're talking about. Simply returning calls and not being booked out 9 months plus will keep you busier than you want to be. As others stated, finishing jobs with a quality product will make your reputation spread quickly.

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

Philip Cook
Pro Member
Posted
  • Investor
  • Stevens Point, WI
  • Posts 82
  • Votes 49
Quote from @Nolan Baker:
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? 


 I do love the creativity of the idea, but you need to not get torn to shreds when you come up against a good lawyer in court. I've talked to Attorney Andrew Schmidt in Wausau some and he laughs about how much he destroys the local PMs when he goes against them in court, and they don't even need to worry about defending their legal structure. 

I manage myself. There are a few PMs around, but I've never heard them referred to as anything better than okay. The only ones that I've heard that might be any better than okay are the ones that only do their own large portfolio.