All Forum Posts by: Michael Henry

@Jason Bott  - Thank you for taking the time to meet you today, it is alway a pleasure. You are for sure doing some good things and I'm glad to be part of your team!

@Jay Ho talk to a lender about getting pre-approved, then start looking at deals.  

@Anita Ortega welcome to the site. 

@Account Closed you will be able to do more deals, hopefully, with less money.  

@Adrian Macias How many units in the multi-family can be built? Building in Milwaukee, WI cost around $120.00 per square foot. You would have to build the houses yourself so it can make sense. You would sell the houses for sure but I'm guessing you would keep the multi-family, so for the multi-family, you need to know what your ROI will be in 12 months and IRR after a 3-5 year timeframe. You would compare your ROI and IRR to you ROI after selling 4 houses. The numbers will tell you which one to do.

@Davis Sessums I don't see any ethical issues. You might be helping him out more than you think. 

@Account Closed I think it is realistic to have 10 unit that is paid off and living off the income (all thing being equal). This is really going to depend on your lifestyle and what you want your disposable income to be.  The more debt you have the more revenue you need to produce the income you need. Look into different ways to reach your goal by partnering and creative financing. It is unlikely that you will reach your goal with one unit, and just a savings.  

@Saeed Sulaiman partner up to limit your exposure.  

@Ishviyan D. I think your question brought up another good point. Something buying inexpensive properties does not alway make sense and you should not look solely at cash flow but look at your tax exposure too.  

@Sabrina Hill I can not speak intelligently on the topic of buying delinquent tax liens (a lien that is placed on a property by a municipality for delinquent taxes) mainly because WI statute does not allow it. In Milwaukee, WI the municipality forecloses for delinquent taxes and then takes possession of the property. I have purchased many of the latter but never of the former. 

Ask that question as a new post make sure you say in Orlando, Fl and should get a lot of replies.