All Forum Posts by: Karen M.

Thanks for sharing your experience Andy, and congrats on your properties. :) 

Sales skills do make money, there is no doubt about it.  Kiyosaki and Dave Ramsey both talk about the value of sales skills.

But, there are quite a few BPers also featured on the podcasts who are very successful and are not big-time hustlers.   

Investors have various personalities.  It's valuable to "meet" a wide range of people via the podcasts to learn about the many ways that people organize their work, and develop their successes.

It seems that real estate is a big tent that fits many types of people and that is great.  Not everyone is going to go out and be a killer wholesaler.  Some folks will be flippers and others will be landlords, and they can do those things with a more quiet and shy personality and still accomplish a great deal of financial success.

Why don't you go talk to some more banks?  I am under the impression that there are only certain banks that work with Home Path financing, or with their low down payment programs.  But I would call around and try a few times before taking that answer. 

There are definitely investors with more than 4 loans.  Perhaps you can also try in your husband's name?  

Good luck! 

J, I am so glad to see this thread because after reading Brandon's article about investors who go bankrupt, I was thinking about coming here to ask about mistakes.  Open and honest conversations about the bad things that happen are important for learning.  I'm very curious to know what people have gotten themselves into and how they survived their own problems.  I'm still figuring out whether real estate is something I will be successful with, and enjoy, and enhance rather than add stress to our family life.  Thanks for starting the topic!  

I love podcast Thursdays!  You gave a great interview.  

My accountant in Muskego owns a storage business in Milwaukee.  Would you like to get some advice from her on your numbers? 

Oh, my friend Google…. look at this article, it is about Milwaukee County and written by a person involved in the landlord's association.  Apparently the courts may have some "traditions" that they like to follow rather than the law???

http://justalandlord.com/2009/09/30/is-your-evicti...

OK, I heard this from a friend of a friend…. so I might be all wrong. I have been telling a friend how I might get into land lording. She has 2 friends who are landlords of duplex properties where they lived in half, then moved to a SFH and then kept the property as a rental, and did not pursue further real estate investing.

I told her of the philosophy of how you give notice the day after rent is late, and she said that there are rules about how you can't evict if there are kids in the home.

Are there any restrictions on evictions that you are aware of?  I need to go to land lording class….  

Thanks! 

Is there a place where I could learn about key management and organization?  (maybe that is Bigger pockets?)   :-)   What are your systems like and how do you physically store and keep track of your keys?  Thanks! 

Three questions:

-- biggest lesson learned in your first year as a landlord

-- skill that was most difficult for you to learn 

-- which phase is hardest for you:  finding properties, screening / managing tenants, working with contractors, working out the financials, other???  

Thank you!