All Forum Posts by: Sam Webber

Hi All, 

I have a couple questions as I am looking to work with property managers and agents in my area as a handyman. 

Outside of slowly scaling my real estate business I own/operate a handyman business based out of Hudson, WI. I am looking to connect with people/companies who could use my services around the Minneapolis / St. Paul area. I would like majority of my business to be with property managers and real estate agents as I love the quick turnaround that is usually required, rather than bathroom remodels and building decks that would keep me on one project for weeks. I have only been in business for one year, but I have been in facilities maintenance in both residential and commercial settings for 10 years prior. 

I have put some folders together that I plan on physically handing out to property managers and agents in my area. These folders include all of my business info, contractor and hvac licensing, insurance info, list of services I provide, example invoice to show some of my pricing, and a move out inspection checklist. 

My questions are: 

1. What kinds of questions should I be prepared for from the people in these roles if I get the chance to meet with them? 

2. If you are in one of these roles, what would you be looking for or what are your expectations from a handyman? 

 Thank you!!

Hi BP Fam, 

I have a couple questions regarding my grandparents house, If there is any info you have or could point me in the right direction that would be greatly appreciated. Both of my grandparents have both now passed and their three children (my mom, aunt, and uncle) are wanting to sell the house once my grandparents assets are out of probate. So here are my questions....

1. Would the siblings need to account for capital gains tax when the sell the home in September as non of them want the home? What should they account for assuming they sell the home for 260k? 

2. I ultimately would like to purchase the home to them be used as a rental but I'm sure I wouldn't be able to get a mortgage (currently closing on my first real estate deal) by September. Contract for deed has crossed my mind. So here's my question, would the contract for deed be a "loop hole" to get out of the capital gains tax and be a better proposal strategy to getting me the home? If this is possible it would benefit both parties is my thinking. I am not trying to pull a quick one on my family or do anything out of their best interest. 

3. Are there any other scenarios that would benefit both parties? I'm really open to hearing about any options whether it involves me or not. My family is the priority and if I could benefit from this and add to my portfolio, that would be the icing on the cake. 

I appreciate any info you can throw at me! Thank you

Thanks for bringing these items up Scott! Definitely gave me some things to think about. 

- 4 of them are currently rented for that? or are listed for rent for that much?

I believe 4 of them are currently rented at that, I am trying to get in contact with the person who is renting the 4 out. I just saw another on marketplace advertising $1050/mo. https://www.facebook.com/marke...

- How long can you go without the $1100/mo coming in?

Not long. The down payment would deplete majority of my savings. I would be leaving myself about 3 months reserve of my current expenses. 

-Much will depend how the tenant will use the unit, and what repairs/maintenance the tenant will be responsible for.

The unit is 24'x45' garage space with a over head heater and ceiling fans, garage door opener, metal walls and ceiling, plumbing roughed in. Not much to them. The exterior of the building is taken care of by the HOA, so I am just purchasing inside storage space. https://www.grrflexspace.com/


- Also what is your cashflow in 5 years when you renew your note at 10% or 15%?

After doing the math on this it looks like I will be upside down if I hit 10% even with increasing the rent 3-5% yearly. 

Hey All! Fist post here,

I have been doing my homework on getting into my first investment property, the residential market near me hasn't gotten me too excited. I recently came across a new construction storage facility in Western Wisconsin that sells each unit individually. There will be a total of 36 units when complete, only 12 are done now. Each unit ranges from 120-125k per and four of them are currently renting out for $1050-1100 per month. I am wondering if this is something that is a good starting point to learn the ropes with, to build relationships, and eventually get into bigger investments. Any insight is appreciated. Thanks!

Here's the money break down...

Purchase price: $125,000 (5 year fixed rate balloon/20 year amortization, current rate 4.6%)

Down Payment: $31,250 (25%)

Closing cost: $1,000

Insurance: $450 annually

Property tax: $1,100 annually 

HOA: $100 monthly

Monthly rent: $1,100

Cashflow: $260 per month