All Forum Posts by: Robert McAllister

If the numbers work today, then they'll work in the future. Fear seems to be holding you back. Don't be afraid of making a mistake, because in all likelihood, you probably will. This is the learning experience you're looking for for future deals. It won't be perfect, and it never will be. G 0   F  0  R  1 T!

Be careful here for discrimination. As long as she has proof of income and stability, what do you care? Anyone can lose their job, it doesn't matter what they do. They could be a C-level executive and their position be eliminated. Same thing here. Make it a short lease if you're nervous, 6 months, or even go month to month with a 2-month notice to protect yourself.

Ask your Realtor for help on this one! There are protections for you as the buyer built into the offer. Inspection and appraisal and financing to name a few! Don't buy blind!

Hi Philip,

Unfortunately, I have not. Time has been a factor as the market is pretty hot in the Milwaukee area yet. I have 12 frustrated buyers at all levels, who are losing out on offers. Stiff competition continues in this area. Needless to say, busy!

I still am curious from you what the Stevens Point market is like and also what costs you incurred with your motel coversion. Any unforeseen issues? And how did you overcome them?

Thanks!

Integrity. With this, everything else falls into place and all parties sleep well at night.

Thank you Zach and John. All great points to consider for myself and other investors if they make a move on this transaction. Much appreciated!

I have a lead on an available Group Home/Assisted Living Center in Milwaukee, WI. 4 BR ranch home currently collecting $2500/mo rent... could be more. It will be listed at $259,900, close enough to the 1% rule for me lately.

Curious, one, if anyone is interested on the investment, I can get more details for you.

Curious, two, if this is honestly a good investment long term. Is insurance higher with a group home? What are the risks? Are there more requirements locally to maintain safety standards, or is that the business' responsibility within the assisted living facility?

Thanks!!

Milwaukee is hot and will remain hot through winter. Deals can be found if a property is on the market too long, likely there's something wrong or the seller is firm on price. The only reason I can think of to not buy in Winter is because snow may cover up defects in the lawn or driveway or around the foundation, possibly a dead tree that the seller didn't disclose. If the seller is deliberately covering something up, when the snow melts, you have recourse.

Hi,

An idea popped in my head regarding the coming (and current) housing crisis... What if it would be feasible to purchase a vacant commercial building and convert it to a multi-family/apartment/condo. Yeah, it may take quite a bit of capital and time, would it be worth it? What potential challenges would exist on a broad spectrum?  Zoning petitions, architectural challenges, contractors, etc. 

Thank you for your reply in advance.

Hi!

I have business partners interested in the AirBNB market along the Gulf Coast, from Gulf Port to Panama City Beach. What opportunities are there? What city market is best to kick off a Rehab/Repair and Rent?

Thanks!