All Forum Posts by: Chai Xiong

I have a 8 unit there and a duplex in milwaukee.. MKE is tough you have to be in the right block to attract the tenants other wise you just have to settle and cross fingers.. Good luck 

@Dan Kelly Jr I'll let my MKE buddies know about your inquiry.. 

I'm in FL and invest in WI, I just do buy and hold in WI with min fix.. Just enough that property manager can do

50K might not get you much here in Orlando and Daytona.  For me I think Florida is a great place for buy and hold, I currently holding 10 properties and the turnaround is about 30 days to find a renter

@John Woodrich I once remember Rich Dad Robert Kiyosaki used to say always be moving your money, he calls it velocity of money.  The key is to aquire as many assets as possible.  I just sat with my equity, i should be following his advice since i listen to him religiously.  ;)

Agree with everyone go with umbrella.. and its really not expensive..

For me:

1million 417.39

2million 659.25

I live in volusia county i think it just depends on what you repaired, if its something that requires a permit then they want their share on money and to send a inspector out to look at the repair to make sure its done right. 

I don't like the numbers already.. Yes since you are a pro member u should have access to the BP calculator.. but just taking that income and dividing it in have for 50percent rule you get 1088.5.  then you say mtg expense is $871.. thats cash flow of $217

If it was me i would just give it to them to get the loan going.. just my opinion

I believe the average amount is 3 percent of purchase price