All Forum Posts by: Jordan P.

@Philip Cook, did you know that UWSP opened up off campus housing to sophomores as of this year? That’s an additional couple of thousand of students that will need housing each year, which is fantastic if you’re looking at or own student housing. We happen to have two student rentals on College Ave and got them signed for next year in the first week of Oct. In my opinion, there’s more than enough student tenants to go around right now.

This has been a great post and I’ve found a lot of value in it. I’m wondering if purchasing in your own name leaves your personal assets vulnerable to lenders in the case of a loan default though?

@Bob Okenwa Do you have any tips for searching for and negotiating rates?

@Philip Cook

Hi Phillip, I think you’re right: the relationship with a lender is definitely a pro, especially if seeking additional forms of borrowing beyond conventional mortgages. I haven’t yet found a lender to partner with in central WI, but have found a good broker, so maybe why that’s why I’m inclined towards the broker. Appreciate your thoughts very much!

@Bob Okenwa Thanks for sharing, Bob!

Wondering who out there uses a mortgage broker, who doesn’t, and why. I can’t see a downside to using a broker - it seems to save a ton of time and ensure that you’re getting the best deal. Insights and preferences to the pros and cons are greatly appreciated!

@Philip Cook

Hi Phillip, we’re investors in the Point area as well.

I think it’s be wise to ask yourself if it’s going to pull the same tenant demographic as the newly constructed units; very possible that there won’t be competition between that 8-plex and the new construction because of rent, location, etc. That said, we’ve heard a substantial amount of anecdotal evidence that quality rentals are nearly impossible to come by in Point or Plover (everything is full) and that people are having to rent in Rapids to find housing. Point seems like a landlords’ market, even with new rentals coming in. Lastly, if you invest time, thought, and effort in quality marketing aimed at your key tenant demographic, that should help eliminate vacancies.

Best of luck - Point is a hot market and competition is fierce!

- Jordan

@Kenneth Garrett, great, thanks so much!

I read in a book that kitchens, bathrooms, and landscaping are the rehab areas you’ll see the greatest return, which sounds in line with what you’re saying. Thanks for sharing!

@Ari Hadar, I'm currently using Google Sheets in Drive to keep track of everything, but I don't feel like it's the best system or app to minimize effort. I recently came across this: https://brrrrinvest.com/produc.... Has anyone used this? This general concept is what I'm looking to develop and use for our business.

Hi BP community,

I was recently driving for dollars when I went past an old church turned dance studio near our city's downtown area. It had obviously gone into bad disrepair, so I thought I'd do a little research on its current ownership. Turns out that the county had taken possession of it it for delinquent taxes, but, according to the county minutes, did not know what to do with it because 1) it's zoned R3 residential, two family and 2) it's in poor condition.

We live in a smaller county, population being only about 71,000, so I'm not dealing with an extremely busy county treasurer or clerk like in a large metropolitan area. I feel like this may play a factor in how willing the county is to just get the property "off their books." On the other hand, it's apparent in the county minutes that they're at a loss for what to do with the property or who would potentially want it given current condition and zoning.

Does anyone have stories, tip, or tricks for buying properties from their county's "delinquent tax list," before they go to auction?

Thanks!