So ill begin with a little about myself.
My name is Steven Nitschke, I'm 22 years old, and have been obsessed with real estate since the age of 20. Over the past 2 years i have done my share of research and talked to multiple experienced investors who have both won and lost in the real estate market whether it be flipping, buying/holding, or building/selling.
Finally earlier this year I built up the courage and was able to locate a hard money lender (family friend) for a build and sell 2 family condominium project. We have 2 lots neighboring one another in a small subdivision, and just have completed the first 2fam building and successfully sold them both for decent profit.
Now im looking to try something different once this project is complete. This project was done in Slinger, Wi, about 30 miles north of milwaukee, and houses dont stay on the market around here for more than a day, due to the excellent school district and other appealing attractions in the area. I would love to acquire some houses that need a little bit of work and hold to rent out due to the high demand of families willing to pay high rent in exchange for getting into the school district. The hard part is going to be finding a place that makes sense, and getting it before it vanishes within hours! any advice i thank you in advance, and so far this BP website has been a great learning tool for me!
Hi Steven, great job with the build! It took me almost ten years of buying and rehabbing SFR rentals before I had the nerve to start my first green field spec build! That is very impressive!
As far as buying quality rental properties you are spot on, school district is a major consideration - there are a lot of seasoned investors that are looking for those and you have to compete with them. We have sold off most of our MPS properties over the last years and focus on on better school districts and the suburbs for our own portfolio.
Having a strategy and knowing exactly what you are looking for allows you to make very quick decisions with high confidence. If you are all over the map, it will take you too long to determine if the deal is as good as you think - or you will pass on good deals, because you don't recognizance the value.