All Forum Posts by: Calvin Ozanick

The CARES act protects against tenants with late rent. You cannot evict for late rent. If a lease ends or is terminated, you can ask the tenant to move out. If they choose not to move out, then you can evict. I am located in Wisconsin, but you should speak with a local RE attorney just in case. 

I am a property manager, so I am obviously more biased towards hiring one. However, the reason for this is simply because of the connections, systems and boots on the ground. If you feel you have those ends handled, then you really can do it yourself. Just be sure you do the market research to understand everything is under control both short and long term before you pull the trigger. If you are not set on a market yet, I would love to share some info on how we work with out of state investors from start to finish on the process. Best of luck!

We use constant contact within our real estate team. Bottom line that I have to the conclusion on is your CRM does not matter. You could have the best one in the world, but if you are not executing on your plan for your CRM it will not work. Find one that you like the look and feel of, and then begin diving in deals and your CRM process. 

I would highly recommend you look into the the Rock County, Wisconsin market. I work in the Janesville and Beloit areas for the most part and the low cost of entry and massive business growth have made this market very attractive to outside investors. If you would be interested in setting up a call to talk about the market potential here, I would be more than willing to do so. 

It all depends on your goals and intent with the real estate license. If you plan on actively pursuing growing as a RE agent, then absolutely you should get your license. I would also recommend looking to connect with a local agent with quite a bit of success and offering time money or both. This connection would prove extremely valuable to you and offer quite a bit of opportunity. 

If anyone is interested in the Rock County market at all I would love to pick your brain. I am located in Janesville but willing to connect all around the state!

If you are managing the unit, you should charge the fee. If the owner has an issue with that, they should be willing to manage for that time period. Good luck!

I highly recommend you look into the Rock County, Wisconsin market. I currently work with many out of state investors who love the market because the price of entry is low and the returns are excellent right now. With 60k you could purchase a SFR here for around 100k. Putting 25k down on that property plus another 10k in reserves, you still have room to invest another 25k or so on another deal. Here in Janesville and Beloit, a home purchased for around those prices will rent in the 950-1100 range when finding the right deal. I hope this helps!

Kyle, 

First of all welcome to BP and I hope this response can help out quite a bit.

#1 I highly recommend having as much of a team in place as possible. This will allow someone who is potentially willing to partner with you the ability to see how your team puts together deals and you can show the value of your team. 

#2 I would recommend looking into more than just one market as it could limit your deal flow or partnership opportunities. I work with OOSI from all around the world in Rock County, Wisconsin and they love this market. 

#3 I would be sure to understand the value you bring and be able to explain that to an investor. Investors will want to know what they are giving you 50% of the profit for because it immediately cuts their CoC ROI in half.

#4 Be aware the a BRRRR property involves "Rent". So if you are purchasing your own home, you will not be able to BRRRR the property as easily.

Best of luck!

LVP is nice because people can always put an area rug over it if they do not like it. We place it in most of our units for the longevity alone. I highly recommend you do the same. I would stay away from LVP on the stairs and go towards a more commercial vinyl for the stairs. Also, any LVP you use, I recommend the click-in floating plank. The adhesive tends to wear out on most, and the floating plank is almost completely water proof. Best of luck! I also recommend using 1/4 inch plywood underlay with the floating plank. Helps level and keep the subfloor smooth.