All Forum Posts by: Victor Martinez Lazaro

Other than looking at similar looking properties how can one exactly decide how much they should rent?

Further on, if I were to have property that I have done some upgrades on, or overall improve, how do I figure how much more rent I should charge? 

Using some basic knowledge I know the more expensive the project the more I should charge, but then how do I find that sweet spot where the project pays for itself and other things while not turning away potential tenants?

Although these are pretty similar questions any and all replies are greatly appreciated!

@Christa Burket

From what I've read buying a multi-unit property sounds like a great idea!

I'll start looking into my local REIA to see which one is best for me!

I'll definitely look into podcasts and stay active in the forums, thanks for the advice and book recommendation!

@Andy Crooks

Thanks for answering my questions! 

I have a good bit of confidence in my self-control, and hopefully I can walk my talk! 

Insurance and a budget will most definitely help, I'll keep that in mind when purchasing my first property. 

Whenever I can find the time I'd like to meet some of the people you'd recommend!

I'll try to make these two into a habit, it sound like it'll do wonders in motivation!

I plan to always ask questions! I'm still new so I won't know much and I know asking questions now will save me pain in the future.

Thanks for the luck and the great advice!

@Caleb Heimsoth

I knew becoming an engineer would be hard but oh boy! I do want to focus on college and saving up so your input really solidified that. If I ever have some specific question you might be able to answer I'll for sure dm you. Again thanks for your input!

@Brett Kash

I'll look into it, it definitely seems to be a good way to start out! Thanks for the advice!

@Jose D.

I will see what I can learn about house hacks, seeing as I'll be fresh out of high school I imagine owing any kind of property will be pretty hard to do though. Either way I appreciate your input!

@ Micheal P.

I will see which meetings I can attend, thanks for your help!

@Dolan Wesley 

Thanks for the advice! I'll definitely look into the stock market as another way to invest and as an indicator to how the real estate market is doing. Also congrats on your gains, you seem to know what you're talking about!

As both the title and description say, I'm about to be a senior in Wisconsin, through the help of a family member I realized how great REI can be. I'm thinking of going to a community college, as to avoid large amounts of debt, and major in Electric Engineering. This is in one part a way to finance my investing ventures as well as a fall back should everything go South (Fingers crossed). I'm planning to invest in either the Madison area or Milwaukee area seeing as they are the closest large metropolitan areas, I've also wondered if looking at growing towns/cities would be a good idea i.e. Sun Prairie. I've read some books but I'm still looking for tips/advice.

Some of my burning questions:

Should I save as much during my college years and wait till the market is good to buy/I find a relatively good property?

Is there anything else legally that is needed to lease a property other than owning the property and a contract for the tenant?

What would be some good ways to find team members or mentors in the areas that I've mentioned?

What are some good motivational tools that you use to keep you focused on your goal?

What are some other general tips that can be useful when starting out?

Any and all responses are greatly appreciated, I hope that this will be my starting point in a great investing life!