Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
×
Try Pro Features for Free
Start your 7 day free trial. Pick markets, find deals, analyze and manage properties.
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Duane A. Snow

Duane A. Snow has started 24 posts and replied 63 times.

Post: VA LOAN Question

Duane A. SnowPosted
  • Wisconsin
  • Posts 64
  • Votes 12

I am looking to purchase a duplex or up to 4 plex of course owner occupied with a VA loan. Is there any banks, mortgage companies...ect that would let me borrow up to $300,000 with 0 money down and using rental toward income? I was told by one place that they would do up to $200,000 but higher then that they would ask for $10,000. That is their policy.

Post: Ready to turn 10K into rental properties

Duane A. SnowPosted
  • Wisconsin
  • Posts 64
  • Votes 12
Quote from @Theresa Harris:

Start by talking to a bank to find out how much you qualify to borrow.  For rental properties, you are going to need 20% down, so $10K is unlikely to be enough in most areas.

As for what to buy-you mentioned selling your house-where are you going to live now?  If you haven't bought a place, why not look at a duplex or a place with a legal suite where you can live in one part of the property and rent the other part?

Look for a good place-somewhere you'd feel safe living.  Don't buy the cheapest place as on paper it may look great, but in reality you will have higher turnover, lower quality of tenants  and more problems-plus it won't appreciate in value as much.


 Thank you. I thought about buying a place i could eventually move into. My ex is keeping the house. I am getting $13k from her as a buyout. So the best i can make that work for me would be great. I am in a 3 bed apartment for $400 a month to be onsite manager.

Post: Ready to turn 10K into rental properties

Duane A. SnowPosted
  • Wisconsin
  • Posts 64
  • Votes 12

I am just starting out new in my rental property venture. I have a buyout coming from my house of $13K. I need to find someone to learn how to turn that into 1 hopefully 2 rental properties. I have done property management and a veteran of the Navy. It is time to get my money working for me and growing. I can navigate Rock County and Walworth County the easiest. Love a commercial building and even find investor to fund remodel if I can get the building. Thoughts on any best way for any kind of properties? 

Quote from @Shawn Ackerman:

@Duane A. Snow Milwaukee is a great market to invest in. There is a great selection of SFR's and MFR's. I'd say consider split testing the SFR and LTR approach. You can try this with a duplex. Location will matter oncourse so be mindful of that. Is your strategy more monthly income focused or appreciation?


 Thank you

Quote from @Pat Parrillo:

I gave a presentation on this exact topic at the Rental Property Association of Wisconsin Annual Convention last year, and the key takeaway was that all rental strategies have their merits, but you need to know what you’re signing up for. Some can be passive investments, while others are full-fledged businesses.

Long-Term Rentals (LTRs) are the best starting point for most investors because they offer consistent income, lower management demands, and a truly passive approach. A 12-month lease means stable cash flow, fewer turnovers, and minimal involvement, especially if you use a property manager. Financing is also easier since lenders prefer predictable rental income over the fluctuations of STRs or MTRs.

Short-Term Rentals (STRs) and Mid-Term Rentals (MTRs) can be lucrative but require more hands-on management. STRs, in particular, are closer to running a hospitality business than a passive investment, with constant guest turnover, cleaning coordination, and regulatory risks. MTRs fall somewhere in between but still require furnishing and active tenant acquisition. If your goal is long-term wealth with minimal effort, LTRs are the best place to start, allowing you to scale without making real estate your full-time job.


 Thank you for the information. I do understand the more hands on. I was trying to see how well on the financial side and what I may need to make it more attractive to go those ways. 

Quote from @Oktay Ugur:

I have a property in Janesville that is set up for STR/MTR as well as a portfolio of long term rental properties. STR/MTR does OK. I don't recommened MTR being your only plan in Janesville. Plan to serve travelling nurses didn't really work out after Covid and we pivoted to STR to keep the cash flow going. I think Janesville is a great long term rental market.


 Oktay,

I do know Janesville for the LTR I use to help low income families try to find housing there for years. Just trying to see if MTR or STR would be something worth trying in the area. Thank you for reaching out. I look to purchase first property with in the next 2 months with VA loan.

Quote from @Corina Eufinger:

I think Janesville is a great market for MTR. I could also see there being a larger future market for STRs. An MTR market at Janesville would work well with the larger medical community here and in Madison, (Traveling nurses!) plus visiting executives, etc for the other employment there.  As far as i know Janesville doesnt any local restrictions on either type of rentals currently.

Thank you
Quote from @Marcus Auerbach:
Quote from @Duane A. Snow:

I have gone back and forth about what kind of rental I start with. Was thinking a single family home 2 to 3 beds. Was wondering about starting in the Mid-Term rental area rather than STR. Yes I have pondered the Full year rental and that would do mortgage and give me a little extra, but thought MTR or STR might do better. Also, can you rent out each room for MTR? thanks for whom ever may lead in the right direc

Milwaukee's STR space is getting saturated, especially if you have nothing special to offer. Most STRs are generic, cheap homes with lots of paint and trendy but cheap furniture. Consumers pick up on that. The properties are often flawed and no well-suited for a family to live there long term (lot's of bedrooms, but tiny living room, no yard, no garage etc), that's why they sold for a discount an get used as STR. Long term that makes them tough to sell to anyone else but an STR investor.

There are much fewer quality STRs available to rent, so that's one way to differentiate. And then you got the vacation rental market. The problem with southern Wisconsin is that we don't have reliable snow coverage anymore, so you are limited to the summer season and will sit vacant for the winter. Or you go north, which makes you a lot more remote, far away from the next Home Depot, and a long drive for everyone, but opens you up the snowmobile and ice fishing season.

IMO the most important thing is to buy quality real estate, no matter how you rent it. We have a chronic housing shortage in Milwaukee. Home prices have doubled in the last ten years and we are still well below the national average.


 Hi Marcus, 

Thank you for the response. I do know the market and shortage for LTR purposes. I live in Walworth by Lake Geneva. People do not want to STR Lake Geneva because of all the regulations the local government are making. I know Milwaukee has UW-Mil. and Marquette so thought a good put together MTR. There is hospitals for VA, Private, and public sectors, plus a lot to do in the area. Love AJ Bombers, and 3rd street market. That is not including Bucks games/stadium concerts and events plus the Brewers. So just weighing options when I do purchase in a month or so.

Thank You

Andy 

Quote from @Cristiana Rios:

Hey Duane,

I’m Cristiana, and I’ve spent the last 10 years building and leading teams in the short-term and mid-term rental industry across Airbnb, VRBO, Furnished Finder, Booking.com, and 20+ other platforms. Managing 25 properties worldwide, I’ve scaled operations to generate $1M+ annually, which led to acquiring a hotel in Costa Rica.

Beyond operations, I specialize in connecting investors to exclusive, off-market opportunities through my extensive network. To guide you in the right direction, with whether STR or MTR is better suitable; I have a few questions:

- Where are you located?

- What major cities are nearby?

- What drives travel demand in these areas?

Looking forward to helping you navigate the best direction!


 Hi Cristiana, 

I am looking in a few areas. Milwaukee, Janesville, Madison in WI.

Travel: all have uber services, but best in Madison and Milwaukee, rental cards, and busses in all.

Duane

Quote from @Nate Williams:

Check out Jesse Vasquez Airventure on YouTube. He has a lot of good info on MTRs. He has podcasts as well.


 TY