All Forum Posts by: Ray Thorsen

I am in a unique position I think compared to some. I have a few potentially "good" tenants. I am trying to pick tenants that will be there for more than a year while being a good tenant.  I eliminated one because he wants to buy a house in a year once his divorce is final. He makes plenty of money and still has the credit to do it. The other 3 all make my 3.5x gross no criminal no evictions decent credit (620-650 for tenants). After doing my screening they all qualify. My gut says go with a particular tenant but I do not have any screening criteria to definitively deny the other 2. What do I tell them? The first come first serve is out the window because one of them knows they were first to see it. Any advise would be great.

I am looking at a property that has a shared well with 3 properties. The well is not on the property I am interested in. I otherwise like the property. The numbers work for my criteria. I am concerned because we have little control over the well even with a shared well agreement. What happens when the well fails and the other 2 do not have the funds to cover the repair? Worst case I thought I will drill my own well. I know that is a costly option but if I buy it with the well number built in we should be covered. Is there an escrow account that all three property owners could fund in advance. Anyone have any experience with this?? The property is in Wisconsin.

I am looking for a fee based financial advisor who is REI friendly. I need layout my retirement plan and see how my REI will fit in. I am looking for someone the the south east wisconsin area, Milwaukee, Waukesha, Racine. If anyone has used one and is happy with the results I would appreciate the referral. Thanks BP Nation

I am looking for a fee based financial advisor who is REI friendly. I need layout my retirement plan and see how my REI will fit in. I am looking for someone the the south east wisconsin area, Milwaukee, Waukesha, Racine. If anyone has used one and is happy with the results I would appreciate the referral. Thanks BP Nation

I agree with @Dawn Anastasi . I was burned by a similar issue. The tenant always paid their rent and water bill on time. They move out and because water is billed quarterly I had to refund the security before the next cycle which they did not pay. It was a $100 lesson that taught me to always confirm the water bill is satisfied before issuing sec deposits. Hopefully you still have your security deposit

Welcome to BP. This is an outstanding resource.  It looks like we are neighbors. I am alays looking to network with local investors. If you are interested.

Hello Rebecca,

I am interested in racine rentals as well

I just purchased a duplex in union grove wisconsin and I need some contractors to help me renovate it to my standards before I rent it. I am looking for carpet,vinyl installer, hvac to run a duct to the bathroom and inspect/replace furnaces if needed. I have 3 step set of stairs on each side that need some attention. I need new laminate countertops installed. I also need a landscaper. If anyone in the bp world has any good contacts with people they have used in the area I would appreciate it. 

I would also love some insight on this topic. I have 4 properties that have more crabgrass than real grass

I would second @JD Martin search craigslist. I bought a roofing gun from a guy for half price. He used it once to roof a shed he built. I needed it to roof my house and then a couple of friends roofs as well. Be cautious with used battery tools and tools from full time contractors because they are usually used up.