All Forum Posts by: Jack Medford

Absolutely @Eric Veium! I'll send you a DM

Come on... I know you're out there! Who's got all the 2-4 units in Madison and Dane County, Wisconsin? I've got multiple buyers interested. All we need is more properties!

Seriously though... This market is brutal!

Hi @Aaron Noltemeyer, I'm also in SW Wisconsin. I completely agree with @Marcus Auerbach sentiment - demand is far outpacing supply with no change in sight. 

Depending on where in the SW you are will depend on what I'd recommend. Still, I'll throw a few ideas out there based on what I'm seeing right now. 

• Stoughton is the most affordable town (by Median Sale Price) in Dane County (20 minutes from Madison) while having a decent inventory of Single and Multi-family.
• Lodi and Columbus (just north & northeast of Dane County) are still very affordable, yet very solid markets. 
• Beloit is rapidly appreciating but still remains in the affordable range when compared with Madison and Dane County. Plus, tons of money is being invested into the city. 

I know it is tough to do right now, but I'd suggest finding a local meetup group to join. Even if it is just virtual right now. Start showing up and listening/learning to locals. Over time, focus on building your reputation within the group and find ways to provide value. It isn't "hard" but it does require persistence.

As @Jonathan Greene mentioned, mentors are looking for someone to add value. They want to see a win/win situation. Otherwise, you'll have to pay upfront for coaching or a guru to give you advice. 

@Tim Paulson As Keith mentioned, the market is crazy right now. It would almost be a detriment to learn the market right now, because it may shift by May of 2022. That said, I run data-driven market reports about Madison and Dane County. Feel free to look through and ask any questions that come up. 

For specific neighborhoods, it depends on what you're looking for. Top cash flow potential? Top long-term appreciation potential? Somewhere in the middle? 

Last thing I'll say is that we have a meetup group of local investors with a variety of experience, including beginners. We do bi-weekly zoom meetings for now, but hopefully will be back in person by the time you're moving here. If you want to join the virtual meetups in the meantime, let me know. 

Mistake: 

Early on after moving to a new market, I joined a local investment group. Had done a couple of deals and was slowly building a solid reputation with the other investors in the group. New guy came into the group who immediately gave "used-car-salesmen" vibes. He promised a one-stop-shop - Agent/PM business - that could get 2%+ cash-on-cash returns. 

I had no interest in following him into any ventures, but a couple other investors went for it. One of those investors was someone I'd already been buying properties with in a different market. At the time I thought, "Oh well, guess he'll figure it out eventually." 

Problem was, this partner I'd invested with was the cash cow of the group. He made an excellent salary and was leveraging up so that he could acquire enough buildings to retire. He eventually bought enough units with the Agent/PM that he became the largest client. That's when the Agent/PM decided to expand the operation and bring in help.

It first started with helping people earn their agent license at a discount (nothing wrong there) and then led to hiring help on the PM side. That's where I joined in. 

At the time I didn't have a job, just a stay-at-home dad trying to build a real estate investing career. I was offered a job helping with PM, and since my investing partner was a heavy customer, I thought it was a great opportunity. After all, I'm not the one risking any money with this operation. 

Problem is, the Agent/PM had the same reputation he's ever had. It finally hit me the first meetup I went to where I had to announce I was joining up with this Agent/PM. I'd previously told some of the group that I'd never invest with the Agent/PM, and here I was joining up and helping others invest with him. I was now associated with him, and we all know how guilt by association works. Overall, it felt pretty dirty.

Luckily the operation didn't last much longer and I backed out without much damage. However, I have to imagine my reputation took a hit with some of the other investors in the group. I learned a big lesson about not soiling one's Character for a paycheck. Even if I wasn't doing any of the "dirty work" I was still involved. 

Lesson: Your reputation means more than a few dollars. Avoid shady characters like the plague. 

I've been in Bitcoin since 2015. I initially bought into the "revolutionary tech" narrative, but I'm starting to sour on the community. If you're active on Twitter you'll probably be familiar with the HaVe FuN sTaYiNg PoOr crowd. The speculators and influence peddlers seem to have taken over the space.

I do still own Bitcoin because I'm playing with house money at this point. (Cashed out in 2017 before the burst. Attempting the same this bull run.) 

That said, even if Bitcoin pops and the price begins to fall below previous support levels I expect the community to keep it afloat. It has created a religious-like following and some of the smartest techies in Silicon Valley are convinced of its long-term viability. 

My final thoughts... Bitcoin (and crypto in general) need a crash similar to the dot com era. Shake out the speculators and let the good projects survive while the ****** ones fall away. Then the space can build back up from the ashes, much like the era that followed the dot com crash. 

Similar to you, I don't consider myself an expert. These are just the ramblings of an amateur stock/crypto investor. Happy to be proven wrong and see BTC rise to $200k+. 

Hi @Evan Anthony, welcome to BP! Whereabout in Wisconsin are you? 

Let me know if you have any questions about wholesaling as you get started. Not a bad way to get some cash and build up capital for your first flip. But it can be a bit tough as you start out. 

@Kody Christensen whereabout in Wisconsin are you looking to house hack? 

Sure thing @Josh Anderson. Here's the info for tonight's meeting. 

https://www.biggerpockets.com/...