All Forum Posts by: Mike D.

So what type of investing are you interested in getting started in?

Hey,

I think your best bet to network on here would be to go to the Wisconsin groups page and introduce yourself there directly. More Wisconsinites will see your posts there. http://www.biggerpockets.com/groups/search?term=Wisconsin&commit=Go..Goodluck

Alright, that's what I figured. It makes sense. Thanks

In your college rentals, I'm assuming you have a bunch of unrelated tenants all on the same lease? What happens if say 1 of 4 doesn't pay his portion? How would you handle that type of situation?

sorry, didn't realize there was an exact same thread lol

For the experienced investors,

If you could start your investing career over again from the beginning, knowing what you know now, what would you do differently?

What mistakes did you make that you would now know to avoid?

What about Jersey? You could try to run into the kids from "Jersey Shore" and maybe get yourself on tv.

Does anyone from outside NJ know who I'm referring to?

Living in 1 unit and renting the other seems like a good way to leave yourself with a low/no mortgage payment. I don't see it providing cashflow though. So if your not planning on living off of your investments and just want help paying the mortgage(like that show on HGTV "income property") that's a route you could take. Long term it could pay off because it is like the tenant paid for half your house, but in the short term it won't produce income at those numbers.

If you really want to be a landlord and own properties that generate profit each month you will have to look in lower priced areas.

Buy and hold definitely would not work with those numbers. I don't know if that's the only form of investing that interests you. If so then I would look elsewhere for deals.

edit: I should say that these numbers don't work for cash flow purposes. If you have other intentions(betting on inflation, tax purposes) that may be another story.

So whats the reasoning behind landlords using white paint for walls? I was thinking that it could be because it is easier to paint the entire unit(walls + ceiling) the same color. But I've seen posts on here where people have used different shades of white on the ceilings.

So for those of you who do use white, is there a reason?
Does anyone like to use other colors instead?