All Forum Posts by: Teresa Thomas

@Dave Corfman

Would love to connect with you in the Janesville- Beloit area! I’ll look at your site, you now run your own PM company in that area?

Since we are close, maybe coffee after COVID? Sounds like we are on some of the same paths.

@Jacob Kovacevich

This is all great! I am thinking the same, cosmetics, yes, otherwise all else we want up to date.

I worked in Elkhorn for a month before getting a job with a tribe and now work for the state of WI. I’m in the social work field for now, been in it for 20 years. Looking to retire in 5 (my progressive answer :)

@Jacob Kovacevich

Hi Jacob! Which areas are you investing in now? Do you go through a PM? Were they turnkey or fixer uppers? Was looking at Beloit, Racine, Walworth county area- Elkhorn, etc. if we do WI.

Would love to connect with you!

@Nicole Heasley

Hi Nicole! Just from doing a lot of listening on Bigger Pockets and reading real estate books, we learned that investing out of state is not a bad idea with the right TK company.

As far as the towns in WI- we are roughly 2 hours give or take from them all. We did get a lead on a PM in the Racine-Milwaukee area that we are going to look into. Many in that WI area are fixer uppers- for our first one we wanted it to be a turnkey.

@Will Fraser

Hey Will! Great questions! Our retirement goal is to live off of 100 properties. We both currently have W2 jobs and want to retire from those jobs in 10 years (though.....I’d love to retire at 50- I’ll be 45 in June) and have 10k/month in rental income coming in. We do have a Business Plan and strategies written down.

I was thinking turnkey-PM because it’s the “easier” route to go while we both work full-time. It would also help us learn the ropes per say while having more of a hands-off approach in the beginning.

Hello! My husband are debating buying our first property locally to be close to it (we live in Madison, WI) so looking to buy in a small town outside Madison because it’s so expensive here. Thought about Janesville, Racine, Beloit area. Milwaukee is really a hit or miss. Been in WI my entire life, I know Milwaukee very well, great prices, but the neighborhoods are NOT good.

We have also been looking at turnkey companies, most out of state, and have the company manage our properties. I’ve seen some really good PM/Turnkey companies out there.

We will have about 20k to invest on our first property and 5k in reserves. Want small, multi-family or single family that cash flow at least $200/month.

What would you do as your first, newbie experience?

How are you calculating the down payment of 14k on a 400k triplex? Wouldn't it be 20% down or do you plan to live in one of them and get an FHA or conventional loan? Maybe that's in your analysis and I missed that part.

Nice! Roth is the only way to go! 

@Ryan A.

You might want to think about getting in tax-free environments such as Roth IRAs and whole life insurance with cash value policies instead of tax-deferred 401ks. You are going to lose so much money when it comes to withdrawals in the future if you stick with 401ks. Next, yes- I would definitely use what is left to either house hack or save up to buy your first investment rental where you can then also take advantage of the tax codes.

Thank you so much Zach. We will reach out to you privately in a message. We live in Madison, WI. My husband and I are looking to invest in our first property in the next year. We have read many books and listened to a lot of podcasts. Ready to get our feet wet and create passive income!