All Forum Posts by: Gregory M Carlson

@Larry Melton

Any further developments with Fundrise? Is there still a freeze on cashing out?

That said, I’m looking to invest $5-$10k long-term (5+ years) in Fundrise or other similar investment platforms.

Are current investors still seeing good performance during this “Covid era”?

My due diligence continues, if anyone has other suggestions to investigate please let me know.

Thanks all. Have a great day!

@John Teachout

John, it seems to be Covid related, I spoke with another bar owner in the area and he said the previous owner was pretty successful for many years and the new owner ran into this Covid situation pretty soon after they took over.

Definitely considering other options besides a bar, I’ve not dismissed the investment possibilities as of yet but definitely not looking for my first investment to be overly complicated and reduce or eliminate my ability to invest beyond this. Thank you.

@Pete Woelfel

If you haven't found or decided on a HELOC lender, I highly recommend Summit Credit Union. I can provide a name if you're interested.

@Brock Mogensen

In about the same headspace, hoping to see the rental side of this property soon so I can effectively determine what would be a good offer. More to come. Thanks.

@Colleen F.

Totally agree with your points, I’ll keep in mind as I continue to assess this opportunity. Hadn’t considered if the license could be sold, will investigate that. Thank you.

@Marcus Auerbach

Excellent points Marcus, the bar is fully licensed and operating currently. Purchase includes all license, but no guarantee they would be renewed. I’m also considering non-alcoholic options (coffee shop) with less overhead/risk.

@Pete Woelfel

Thanks for your perspective Pete, no disagreement with your points. I’m also considering non-alcoholic options, like running it as a coffee shop, or some other commercial endeavor. I will walk-through the property in the next or two, see the condition of the rental and if there is renovation needed, etc. as well as get more details on the bar operation.

There is a building near me for sale (Milwaukee County, WI) with bar in front and 2 bedroom/1 bath rental in back for $150,000 (rent is $750). I have no experience operating a bar, thought I could lease to someone who does. Building looks to be in pretty good condition. Why would it be a bad idea?

@Shawn Ackerman Our biggest focus is getting married Oct. 31st and then we'll be able to adjust into longer-term planning for REI.

Thank you @Marcus Auerbach.  My fiance and I were having the same conversation yesterday (shortly after I posted my initial message) about what our first deal should look like.  I would say we're definitely leaning towards a 'safe bet' that is a good deal (lower initial cost that will cash flow) and isn't too risky.

I wouldn't say we are in a hurry, but the goal is to get into our first deal within about 6 months or so.

We'll be doing the BP webinar for noobs tomorrow and looking at getting to a couple/few local REI meetups.

Thanks!