All Forum Posts by: Yonat Piva

Thank you for the encouragement and the reflection. Loving this forum and community already. I wonder if many of you feel that the landscape of the RE community has changed over the years to be a lot more supportive and inviting for newbies? I certainly feel hopeful.

Thanks for the feedback! 

I appreciate the concerns you bring up and thank you for helping me think critically. 

I'm done rental comps through Zillow, FB Marketplace and here on BP and it seems we could get between $1900-2500 for our SFH so we thought we would start on the high end and see what happens.

I can't find the KPI test online but I've done the MBTI (on the Shorewest site) and the DISC personality quizzes and I feel encouraged that my skills and personality will be a good fit but of course also very curious to give it a try and see how I do in the long run, maybe I will be exposed to other roles that would fit as well.

Hi everyone! This is my first public post and I'm hoping for some encouragement and insight into the decisions and direction I am heading...

My family of 4 is moving next week out of our SFR in Milwaukee (between the airport and Bay View for those that are in the area) and moving to a duplex which we will live in it as a single family while our kids are growing up. We intend to keep the SFR as a rental. We have $95k equity and our mortgage payment is $1400/mo to pay down an additional $174k on the mortgage. I believe we will be able to rent the 1300sq ft 4/2 house for $2500. The new mortgage on the new $340k duplex home which is an FHA loan is going to be a monthly payment of $2800 and we will refi ASAP (the current rate is 6.7%) when rates go down.

We have done some nice improvements on the SFR and will be refinishing the wood floors before a renter moves in (July 1) so feeling like it's a great opportunity for the right long term renter and we plan to screen prospective tenants well.

We are taking a $20k HELOC on the SFR for the downpayment and plan to pay that off within 12-18 months. In terms of cash reserves outside of that we don't have anything substantial saved (our savings went to the earnest money) so our priority is to pay down the HELOC and increase income. I am working toward my RE license and would like to begin as an agent by the end of the summer as a part time job along with my W2 so that I can put any income from that into paying down that HELOC and putting more cash aside for the next possible deal.

I'd like to have 2-3 more rentals within the next 5 years so that I can transition from my W2 to full time real estate (is that realistic? could it be sooner??) and would ideally like to set my sights higher so that within 10 years my husband can leave his teaching job and work with me in managing our properties. According to my research, BRRR could be a good strategy to start with to increase cash reserves and then go for buy and holds...I'm interested in Oxford Houses or other group home options or other ideas I haven't thought of yet!

I'd love some perspective or questions I should be thinking about on any of the info I've shared and definitely also looking for connections here in the Milwaukee area. 

Thanks all!