All Forum Posts by: Phillip Davis

@Mike Spica is my go to guy for insurance in Michigan! He has helped me out many times in more than insurance too, highly recommended

I have not attended in a while but Madison real estate investor club usually meets every other Wed and had a great group of people 

It may be a little out of your way but I have had a great experience with Marcus Meiklejohn of Meiklejohn CPA in Janesville, WI. 

Hey, Austin sounds like you are on the right track. I always suggest going to the multi-family house hack route when starting out. 1) when starting out you are usually younger and it's much easier to house hack without a big family, not impossible to do with a family just a little harder. 2) Multi-family in most scenarios helps you save on housing cost, if not live for free, which helps you save even more money for your next deal. 3) This starts you out with more doors right away and jump-starts the investing path, not to mention it's really easy to get a single-family and forget your investing and treat it too much like your forever home by over rehabbing. Hopes this helps but sounds like you are already headed for success!

Great subject and an interesting question. I think like with anything in life there are multiple factors contributing. I personally think a major factor we are starting to see the ramifications of the 2008 housing collapse. Many very good builders got wiped out and no longer in business, this caused new home builds to fall way off the previous paces. So the population has continued to grow and new construction decline since 2008 and we are starting to see the aftermath of all this. Once again not the only problem, combine all the other mentioned symptoms and you start to see the lack of housing.

It is very hard when first starting out, but always think long term view, believe me, your future self with thank you for it. Attack any possible maintenance issues so you don't get that unexpected call later from a tenant plus it is always cheaper to repair the problem before it becomes a bigger problem!

Blackhawk Credit Union works well with investors as well as Penfed is always a great resource

Hey BP peeps, anyone that uses the BP app what is your experience? What value do you receive from it? I had it a while back and didn't like it, wondering if upgrades have been made. 

I am a firm believer that anytime is a good time to get into real estate but I will caveat that by saying not for every type of real estate or without help. I think with proper knowledge around you with mentors, lenders, agents, and experienced investors you can almost always make a good investment with a buy and hold property bought at a discount. I do think that flipping does have seasons though, and unless you are already experienced and have a great team you should probably be treading lightly right now with the housing market and financial markets being so spoked. Just my two cents, no one knows where this will go we all just have to study history, see the trends, listen to much smarter people than ourselves, and make our best-researched plan!

Hey all, I am looking for a business line of credit. I have exhausted all my options with personal line of credits but have 3 deals that are ready to close now and need capital. I have 5 properties that I have cash-out refi under my LLC and is titled under llc all of which are over 1 year since refi and have equity in them. I have an oo duplex I just purchased less than a month ago as well. I have a 750 credit score but have a higher amount of debt due to investing and have quite a bit of inquiries on my credit report. Would like to stick to the business side of credit with using property as collateral.