All Forum Posts by: Phillip Davis

@Evan Koehler An owner-occupied property 2-4 unit home with an FHA 3.5% down payment is an amazing tool to get started especially at your age, it's easier without a big family, although not impossible! If you have a good enough credit report and some savings why wait to pay off student debt? You could be saving a ton of money in housing costs and apply the extra to the student loan, killing two birds with one stone!

@Jamie Labrec YES! Thank you for that! I have been spinning my wheels for a while trying to figure it out!

There are so many forums and searching through them is a challenge. How do you find Wisconsin local forum? Any help with the search features for all forums would be a great help as well, Thanks and be blessed!

Congrats @Jacob Sheets on the new place! Wealth is built by the simple consistent steps more than the extraordinary ones, keep the focus, and be blessed!

Hello Abigail and welcome to Wisconsin! There are many questions in your post that leads to more questions lol. You don't need an established insurance policy, Property management should be fairly easy for you if you work with one and also there are many options around the area. Most people would suggest 6-12 reserves, or rent payments to have a healthy starting point. Do you own your home now? House hacking is an amazing strategy for starting if not and allows only a 3.5% downpayment, (20% min if not). Also what market are you in? There are different price points in different areas.

@Kyle J. I am in no way an expert in all the laws being incorporated right, my thoughts were exactly what you referred to as replacing a tenant because of end of lease vs lack of payment, which again not being an expert in new laws, might be a loophole giving us the landlord a little of the power back on our investments.

Hey friends, this is completely me thinking out loud through the forum and seeing what others think. With all the current regulations being implemented to stop evictions around the country, has anyone thought about trying to modify current leases or start new leases on month to month terms instead of long term so that landlords would be able to remove tenants not paying and not be locked into terms without being able to evict? Just a passing thought that I was thinking about going forward, suggestions? Thoughts?

Hey peeps, I hope you all are doing well and getting through these strange times! I have investment properties that I have purchased all through the MLS and a realtor. I started a driving for dollars campaign as those leads have dried up and have had good luck so far and have come to an agreement on one of the properties from it. I have not experienced closing an off-market deal without a realtor but would like to learn as I anticipate more deals this way. My assumptions are I sign a purchase agreement with the seller, get that to a title company, pay necessary funds and then close? Would someone with experience care to share a step by step process so that I can understand this better? I am investing in Michigan for reference as I know each state is a little different. Thanks!

@Marcus Maloney, that sounds great. Let's connect and chat about life and real estate. I will send a message as it gets closer 

I live in Wisconsin and have rentals in West Michigan, I have had a good experience with foremost insurance without any problems