All Forum Posts by: Shawn Ackerman

@Jay Hinrichs Long time man! Yesir still operating in the MKE market. 

@David Lewis Don't give up man.  There are alot of real estate strategy out there which will allow you to obtain a piece of property unconventionally.  Finding motivated sellers off market and making offers using creative finance strategy. I won't overwhelm you with all of the different terminologies but begin researching these concepts.

All the best!

@Danielle B. you are welcome.  Always fact check the people who you are taking advice from. Being a landlord is not an overnight get rich quick scheme.

@Danielle B. when buying out of state you have to know the people you will be working with.  You can build your own team i.e. title co, insurance, pm, contractors, handyman,process server, lender etc.... or you can find an operator who can get you going in that market while simultaneously building out your team.

Section 8 housing is a great way to ensure consistency with rent payments however not all tenant who have HCV pay 0%. Many times the tenants are income based and pay 20-40% wherein only 60-80% may be guaranteed.

Aside from the rent percentage issue is pride of ownership. Sometimes the tenants are coming from shelters or other communal type of housing where maintaining a space my not be solely there responsibility so maintaining the unit may not be to your liking.  Not in all cases but more often then not.

Additionally you have to have solid management who is checking on the property at a minimum once per quarter as many times I find these tenant don't always report issues timely.  

Is it a great way to ensure income consistency? Yes, but you should really be involved at the outset.  

There are so many other nuanced things to discuss but I'll leave it right here for now.

Best of luck! 

Great advice man!!!! I took a long break and I'm paying for it now LOL!! Expenses do not take a break so until you have no expenses taking breaks should be quick and infrequent.  Better yet train others to keep things going while you take your break.

Again Jonathan thanks for the reminder that the grind never stops.  Addicted to the process not the end result!

@Renee Jean-Baptiste Welcome to BP!!! Thanks for sharing a bit about yourself and journey.  All the best!

@Mike Terry I think you need to stick to the script. Rent, Expenses, NOI, Cash Flow, COCR, Cap Rate, Market cap rate. Take the emotions out of it and evaluate on what the deal is telling you.

Good luck!

@Malcolm Brown it is great that you are thinking of the money to fund the deals you are going to get started with but understanding what a deal is, I think, should be the starting point.  Also you have to understand what kind of investor you want to be.  Are you looking for cash flow/appreciation/a little of both?

finding and analyzing deals should be at the top of your list of things to learn when starting out!

Best of luck!

@Micheal Singleton I have the perfect person you should connect with. Message me and I will shoot you their info.

@Shannon Vistisen I would say this, unless you know everything that is tied to that entity, buy the property alone. I would definitely check Dunn and Bradstreet for any open lines of credit, liens, judgements and the like. Unless you have a clause in the purchase of the entity that clearly makes you responsible for the entity from the day that you buy it(Indemnification) I wouldn't bother with the LLC.

Good luck man. all the best!