All Forum Posts by: Jack Medford

@Kole Kingslien if you have the time, check out the Madison Real Estate Investors meetup. Happens every other week on Wednesday nights, with the next meetup being Sept 27th. @Chela O'Connor is one of the organizers, so I'm sure she can provide a little more info if you are interested in joining. 

I'm new to the area myself and have attended the last 2 meetups. Everyone who attends is super friendly and excited to help us newbies. 

Welcome to BP @Kyle Schilter! I highly recommend finding a meetup in your area so you can network with local real estate investors. You can check out the events page here on BP and search your area. REIA meetups can also be helpful, but I much prefer meetups led by members of BP.

@Luke Aubut I'm also a newbie here in Madison with similar goals to yourself. My emphasis is first on buying a couple multi family properties and then flipping once I have some cash flow. Either way, I'm interested in connecting with people in the area to learn and potentially work together. I'm actually attending a meetup tomorrow night that is organized through BP. Let me know if you're interested in attending and I can give the details. 

I'll be attending. I'm new to Madison and this will be my first real estate meetup since arriving. Looking forward to it!

Hi everybody

My wife and I are looking to buy our first rental property, but we are not sure the best way to account for reoccurring costs. We know we need to plan for things like repairs and maintenance, but don't know how much. Besides from the obvious like taxes, insurance and repairs, is there anything else we should be looking out for?

Any advice you can give would be greatly appreciated.

I will be there. The questionnaire is also a great idea Karen!

Thanks for the reminder Karen, but unfortunately I wont be able to make this meet up. Work has been getting in the way lately. 

Confirmed

Count me in!

@Lawrence Ratliff My degree is in finance, so I am hoping to find a job like the one you mentioned. If I could find work full time evaluating real estate I would jump on it in a heartbeat. One of my elective courses this semester is a real estate investing class, so I’ve gotten a lot of knowledge about evaluating deals, so I’m eager to start doing it for real! Do you have any suggestions for how to find the type of work you mentioned? I don’t have much experience in real estate other than my first purchase, so where might be a good place to start?

I think my initial plan will look very similar to yours. Work full time, invest in some rental properties, and raise a family. I would love to be able to transition into full time investing eventually, but we’ll see what the future holds.

@Michael Moikeha Thank you for the great advice! I have been contemplating whether I should attend a REI club or not, so it is good to hear that they can be a good source of networking. Do you have any suggestions for putting together a team? Who is essential to a team, and what sort of questions should I ask when meeting people?

@J. Martin Thank you for the tips as well as the colleague request. I look forward to seeing you around the site.

@Leonard L. Thank you for the advice! I am glad to see there are avenues to get into developing without much experience. Also, thank you for giving me the link to selectleaders.com. This is perfect timing since I’m starting to accelerate my job hunting.

@Will F. Thank you for the warm welcome, as well as advice on making a decision between full time and part time investing. It is definitely going to depend on what sort of work I can find once I’m graduated. If I can find a well-paying job then I will probably go that route to build my own capital. If I do end up full time investing, than I think I will definitely get my real estate license.

@Joe Fairless I would focus mostly on rehabbing properties with the intention to either flip, or rent. My wife and I already have one property that we have fixed up and are planning to rent, (or sell depending on the market), once we are done living in it. My ultimate goal is to get into commercial real estate and own a number of multi-family units.

I followed the link to your blog. You have a very impressive track record, and not just with real estate. I was reading about how you came to acquire a 168-unit apartment complex. What was the process like getting that many investors together on one deal?