All Forum Posts by: Clifton Harp

Thank you to everyone that has responded. Yes, I am looking more toward the maintenance side of it, but also wanted to build my people skills enough to venture into management.

I am just getting started so I apologize for the indistinction between maintenance and management. I will be taking everyone's advice and building from there.

Good day to all. I have not been as active on here as I would like, but life happens. Anyway, I am thinking of starting a property management business. You know, lawn care, landscaping, repairs, general contracting, etc. I am skilled in many areas of construction and have many of the tools I would need. I am also currently working on researching the proper licensing from the state of Wisconsin. 

My questions are as follows:

1) Would anyone on the BP forums be interested in investing in this startup company?

2) Once established, would anyone else be interested in hiring said startup for their property management needs in Wisconsin?

I will try to answer any questions put to me the best I can. Please remember, this is in the idea phase at the moment and details, such as a business plan, etc , are not in play at the moment. 

Thank you.

I ran across a property in my vicinity that seems like a good deal, but I have reservations. On one side it is a multifamily duplex that is about 3 blocks off the lake (Lake Michigan) in a pretty nice neighborhood. Most other properties around it are ranging from 85k to 140k. This one is priced at 40k.

Now for the bad. This property will need extensive work to the roof over the rear addition, as the roof is INSIDE the addition. That coupled with winter weather and it will need flooring as well. All the usual rehab stuff like paint, carpet, etc still needs to be done as well.

I am wondering if its even worth investigating. All told, once the repairs are done it could be appraised at 85k to 95k. But I am not that familiar with rehab cost analysis, especially on this scale.

Any advice for a begining investor?

@Nathaniel Hitchcock the NEC book is designed to be utilized by licensed electricians. There are special courses just to learn HOW to read it. While I am unfamiliar with your particular level of electrical training or knowledge, I currently work in that field. My suggestion would be to hire an electrician to just come out and inspect it. If you feel lime this is something you can do yourself, there may be condensed versions available specifically for residential properties. I hope this helps.

@Dmitriy Fomichenko thank you.

@Corina Eufinger thank you. As a newbie I'm sure to have lots of questions. As I have been reading through some of the forum posts most of mine have been answered. Now its just a matter of creative financing and getting off my duff and making the decision to start.

@Mitch Kennedy I will definitely add thise to my list. I have an Associate's in Electromechanical Automation Technology. Basically a maintenance technician and electrician in one with specialized training in robotics and plc programming.

@Andrew Syrios Thank you!

@Olivia Radziszewski thank you for the advice. I just finished the free Ultimate Beginners Guide from here. Lots of good information in there. I do have a lender in mind but havent spoken to them yet as I currently am undecided on which business structure to take. Also keeping an eye out in my area for attorneys and cpa's. Just getting the groundwork started.

Good afternoon everyone. My name is Clifton Harp. I live in Sheboygan, Wisconsin. I have no real estate investing experience, except I purchased my home through a lease-purchase option. I am currently employed full time in a skilled trades position (I hate it but it pays the bills) and am looking to increase my income through other means (investing, startups, etc) to eventually replace my current wages. If you would like to get to know more about me, and possibly forge new friendships, please feel free to contact me. Thanks for having me here. I look forward to working with and/or learning from everyone.