All Forum Posts by: Ron Neal

Marcus! 

Firstly, Thank you soo much for your response! It was very very insightful.

I wish i would have put 5% down on the current duplex I bought, however I took advantage of the FHA loan and its 3.5% down. Unfortunately, as a novice investor, I thought well hey if I can make enough in rent to cover the PMI why not invest that addition 1.5% into the duplex and fix it up. So that was the path I chose. Now looking back I wish I wouldn't have, it would have saved me an extra 150 bucks a month.

This brings me to another question. What is the best way to refinance (I know the lenders are swamped at the moment). Do you have any recommendations on refinancing? What is the most cost effective way to refinance?

Okay, I have a question/ situation and would like some guidance.

We sold our home in Saukville for a pretty nice profit! We had lived in it for 2 years, so all the money was not taxed. We put that money into a savings account to start investing with. 

My question to you in if you had $40,000 dollars in a savings for investing, how would you go about investing it?

Hey Rebecca!

My first property is more of a house hacking duplex! Did a bunch of Reno on it and hope to make it a full fledged rental in the very near future. It is located in the Rolling Green Neighborhood in Milwaukee.

I will definitely be attending one of the events once these crazy times are over! 

You guys are freaking awesome! Thank you for the recommendations!! I will definitely check out Brew City REI! Hopefully, I will see some of you at the meet-ups!

Having lived in Milwaukee my whole life, i think it is crazy that i haven't thought of getting into real estate earlier! What do you guys use to find deals? Is it more connections, MLS, Zillow, a combo? I am struggling to find homes for a decent price!

Hello there!

My name is Ron. I just bought my first duplex and it sparked my interesting in building a rental portfolio. I am just not sure how to break into the market and create those connections. Any tips or pointers?

The end goal, as with most real estate investors, is to build enough passive income to make it a full time job. 

Any tips or pointers help. 

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Milwaukee.

Purchase price: $207,000
Cash invested: $10,000

This was the first home I bought. Use it as a buy and hold owner occupied duplex. This was my starter home.

What made you interested in investing in this type of deal?

I began this journey wanting to house hack with my Fiance.

How did you find this deal and how did you negotiate it?

I found this deal on the MLS and used a local Real estate agent

How did you finance this deal?

FHA loan

How did you add value to the deal?

I was not sure how to value a deal at this time

What was the outcome?

The outcome is that i have cut my monthly rent payment significantly, while investing in my own equity and having a tenant pay for more than half of the mortgage

Lessons learned? Challenges?

This drove me to understand more about real estate investing and seek out how to make more passive income.