All Forum Posts by: Douglass Belt

Welcome Gavin,

I agree with all of the previous posts. You may also reach our to other landlords you know and trust and ask to grab a copy of theirs. Most local areas (check your county's website for landlord/tenant laws) have a resource for landlords and tenants. You may also look up a local REIA and see if someone has a copy of a lease for you. hope this helps. Good luck and welcome to BP!

@Sean Hurwitz

-I too, am up for meeting up with you, @Dawn Anastasi, @Mark Shaffar

, and @Nicole Pettis to discuss investing opportunities while you in stopping in Milwaukee for Summerfest. At this rate, we may need to rent out a venue just for that!

 look forward to meeting you, safe travels and hope your shows all go well!

Doug

@Becky Lu

In addition to your LLC, I would HIGHLY encourage you to get at least a $2M umbrella. it is peanuts cost wise compared to the protection you get. you don't need to be a millionaire to be sued for a million bucks. I have seen it happen with rental properties car accidents where people are put in the hospital and rack up $700,000 in medical bills like that! Which does NOT include other things you can be sued for, such as wages lost, state law regulations (check local wrongful death statutes), physical therapy, litigation fees, etc. I have a large umbrella policy and 1 rental house. Even if you had no rental properties, I would still recommend EVERYONE have an umbrella of a MINIMUM $1M. Sorry to be so adamant but I have seen a lot of really bad things happen to good people where they lost everything and have their lives turned upside down by not having this added layer of protection.
@Becky LuGood luck and congrats on your success with your properties! I hope to be there someday too!

@Arturo v

thanks for this information, good to know as I am investing in the Milwaukee area. 

YES, absolutely change locks each time. Totally agree with @Brian Otteson, that the KwikSet is the best!  I re-key in a matter of seconds. The initial set to buy is a bit on the high side but long term it is well worth the money. No need to replace the entire set on each entry door, which saves you time and $$. Most hardware stores and big box stores carry them. Good luck!!

I am in my "Action" phase of scaling my real estate investment plan. I am looking to approach a few friends, as well as my father for a $5,000 loan for my 2nd property.  Does anyone know where I can find a free basic template for a loan proposal? I want this to be as professional as possible to illustrate that I am serious, and committed. In the interest of not "reinventing the wheel" I wondered if anyone had a proposal template you may use with Banks, or when you ask for private money. Any help and/or suggestions when approaching investors is welcomed too!!

@Pat Parrillo

Congrats on your first Duplex!! I too am looking in the Milwaukee market and getting close to making my move. In addtion, I too am bouncing between SFH and Multis, and leaning more toward SFH but VERY interested in what led you back to Multi's.

I would love to hear about your experiences moving forward. Congrats again!!

Welcome aboard!!!

congrats on your new property!  I would ask for all those things and the original applications as well. Good luck and congrats again!

@Sebastian K.

I completely agree with @Nicholas Vandervelde  that Madison is just too expensive. I have been living here for 8 years and have not found anything that will work numbers wise. high taxes, high property values, low vacancy and high rents all create a pretty significant barrier to entry in Madison. I am actively looking in Milwaukee, and like @Nicole Pettis mentioned, those areas still have some potential. 

The only way I can see investing in Madison is "House hacking" by living in one of the units while renting out the other. There are some duplexes in Fitchburg for sale, but still dont think the numbers make sense unless you have a large down payment...just my thoughts. Hope it helps!