Updated about 10 years ago on . Most recent reply
Newbie from Weston, Wisconsin
Hey Everyone!
I'm really looking forward to getting involved in the BiggerPockets Community. I got hooked on real estate in back in 2007, but unlike the Podcasts warn against, I've
read and learned a ton, but never acted - until June of this year!
When our daughter was ready to move out, she was having trouble finding a safe rental in her price range that also accepted pets. This was the perfect opportunity for me to take the leap and "help" her out. I found a 700 sqft SF home and went ahead and grabbed it. This was a great opportunity for our entire family to further our real estate education and we've decided to continue buying and holding properties.
In the past month, we've identified a bunch of opportunities, made offers on one duplex (offer accepted) and one SF HUD home, both of which cash flow out of the box. Since my sons want to learn more about the construction trades, we are identifying a few pretty nasty homes to allow them to continue their education and make money while they are learning! Isn't America great!
I'm very interested in learning more about creative financing as our "down payment fund" dwindles. I'm also struggling a bit with corporate structures as we are putting, or plan to put, each group of investment properties in separate LLCs. I'm wondering if folks generally make these individual property LLCs manager-managed entities and then have another LLC operate as the manger of the smaller LLCs. I know I will learn a ton about these topics on BiggerPockets.com.
I work as an Environmental Consultant during the week where I escape to rest up from my weekend and evening real estate projects. I primarily assist manufacturers with their environmental permitting and reporting obligations.
I guess it doesn't take long to get long-winded. Hope everyone is enjoying their weekend, and I'll see you in the forums!
Most Popular Reply
Mark Strobel,
Welcome to BP. I run the Central WI REIA in Wausau and would like to extend an invitation to you to check us out. We are the only structured group in our area and meet the 3rd Monday every month, which happens to be tomorrow night, at 6:30 Holiday Inn by Cedar Creek. Check us out online. I can't put the website on this post as BP will pull down the post. Google it.
Happy Investing
Derek Dombeck