All Forum Posts by: Scott Schultz

@James 

@Account Closed All Granite has radiation, its just inherent of the stone, no different than Radium in most well water. 

Banks generally will lend on sheriff sales, if you see the person at the correct desk, go to the Commercial lender!  the problem is, if you dont have access, they cant get a BPO or appraisal, I buy Sheriff Sale on lines of Credit, or cash, and then put permanent financing in place, i hope you can get your deal done, or you lose your deposit. Good Luck.  

Good Luck!!! you will do great as long as you take the first step, and pull the pin, the biggest mistake most wana be's make is never taking action. dont fear it, take action. be sure of your numbers, fall in love with the DEAL, and NEVER fall in love with the Property. you have plenty of potential in that area, find your farming area, and cultivate!!!

Kinda the nature of the game here in snow country, but if you can be more selective, your probably better off in the long run. 

Wisconsin is great, but if you are out of state, consider TN, the property taxes are considerably lower, here in WI I have to figure on 2.5 months rent, just to cover Taxes and insurance, if you are outside a city in TN you could  likely only need 1-1.5 mo. rent for the same expense. and in town properties tend to be less as well. for example, a $100K home in WI Rural taxes are around $1500/yr. City $2200, TN Rural about $400, in town $800 now this varies depending on the mil rate. also consider we (in WI) have lots of Cold and Snow you run the risk of pipes freezing causing water damage, also snow removal, if tenants dont clear the walks, the city will and put it on your taxes. You can do well in WI just some things to think about. Good Luck!!!

I cant imagine Electric Baseboard being all that bad, just about Every Wausau Home in WI had them for a 30 year run, and still toms of people heating with them, besides, What do you care, you dont have to live there. (I know thats a bad attitude)

check with KnightBarry Title, they have been good to me,  I can get you I touch with the WI Sales person, she can Direct you to a local office

it's about relationship building, Where in WI are you, maybe I can help.

It comes down to your risk tolerance, and how you buy, when I abstract my own title, and buy at Sheriff Sale, I have foregone a title policy, but other times I have gotten them, right now I have one I did not get a policy, but because I borrowed money I had to pay for a lenders policy. I asked the title co. what my exposure was, and he could not come up with a scenario where I had risk. So I saved the $600

I have had both my previous tax preparer and current CPA, explain how rents will be subject to SE as a broker dealer. Not sure the IRS rule but they showed me the part of the IRS rules that explains it, I will ask him at our next meeting again, the problem may lye in the base income, as my wife is a Pharmacist, which kinda screws us on deductions.