All Forum Posts by: Michael Henry

Great Posts! 

Real Estate is all I know now;  it is a small problem!  Though I do keep a small collection of items to remind me of my past life. 

@Dave Carpenter - I good guy to know is Javer with Tiltin but I do agree with Dawn that a private individual or company is the least expensive. 

@David Benson - 

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Good luck,

@William S. Good job on the post. My wife, my significant other at the time, did not want to house hack either. You will get through it and do well. 

@Mike Lauer - Welcome to the PB Family! 

@Leo B. - Are you going to post about this 9 unit you just purchased? It would be interesting to see what the numbers are like in Akron vs Milwaukee.  

I'm looking at buying a 6 family in Milwaukee for around $180K, this is a value-add play. I look at price pre unit and fixed up it should sale at $50k per unit (market unit price). Subtract you repair cost to get to your purchase price, the difference is the value add that gets you to the market unit price. Many people have a different amount that her/she needs to net once fixed up. Coming up with that number is the real trick.  

@Ian Reeves - Call around to some local banks and credit union in your area. Lenders are still doing 10% owner carry-back. A matter of fact, I just found out that I local credit union in Milwaukee, WI is doing 100% financing or no money down financing when the property appraises out at 80% LTV.

We're back!!!!

@Felix Baigel  - When investing you want to create an investment timeline which involves your exit strategy. Most long-term real estate investment includes a time frame of 3- 5 years. You don't want it shorter because this is the normal time from to stabilize the investments. This is why for larger investments the buyer asks for  3 years of the seller's tax return. Most are not longer than 5 years because you only can predict accurately within this time frame. Think of it like a weather forecast, the longer out the more likely the weather will be different.  

The point is, no matter what market you go into your funds will be invested for this time frame or you will risk taking losses. 

@Robin Boyer - If you bought right - With a 4 family, All thing things being equal, 1 unit for the mortgage, 1 unit for the expenses, 1 unit for the reserves, and 1 unit for cash flow.