All Forum Posts by: Paul Novak

 This is really good advice.  I keep my balances really low and pay my credit cards weekly on payday so I don't normally run into this problem but I have seen the rare chance when I am on vacation and have large spend that aligns right at the end of a billing cycle where my reported balance goes up by a few thousand dollars.  When this has happened my score had dipped sometimes by 20-30 points just because of how high my balance went up at reporting time.  By the next cycle my score goes right back but I have seen what you are referencing first hand.

 If you can get someone to do this I agree this is a great option.  For that reason We put both my sons as authorized users on our cards.  At the time they were 5 and 8.  They have no clue that they have credit cards for our main account but we can already start building up their credit.  My hope is that this will give them a jump start when they turn 18.

 I agree and think that is a great point.  My wife does the same for that very reason.

I have seen some people as of late asking about what forms they use for their leases.  For those of us living in Wisconsin we use Wisconsin Legal Blanks.  These forms were drafted up by an attorney that specializes in real estate with in Wisconsin.  What I like about them is you can also get carbon copy forms which is what we use or you can download them to get electronic PDF versions.  I share this because I thought this could help some people who are starting out in our area.

Welcome to BP, how's the search going, have you found your first deal yet?

We use Wisconsin Legal Blanks for all our leases and forms.  The form I would use to inform them is a 28 day notice.  Attached is the link to the form.  You can order these as carbon copies which is what we do.  https://wilegalblank.com/collections/digital-pdf/products/32...

Hey Sean welcome to the group!  I am actually also from Sheboygan and I have been at this for a few years now.  We have a few multifamily and single family properties between Sheboygan and Sheboygan Falls.  Honestly I love doing real estate especially in this area because of the strong manufacturing presence and strong wage growth.  One resource I have used is the Lakeshore Landlord Association.  Their members are a bit older but some of them are looking to start transitioning out of real estate and are making off market deals at the monthly meetings.  This could be an opportunity to get into the game in the area.

If you ever want to connect, grab a drink, and talk real estate, hit me up.

 Welcome to BP I think you will find it to be a great resource to get information.  I invest about an hour north in Sheboygan and I focus on long term rentals.  I do most of the flipping work myself but my best friend owns a general contracting company who does flips for people.  If you are ever looking for a good contractor he is someone who I obviously trust.  He has helped me out countless times when I get in over my head.  His company is Roerdink Remodel and he current does work in the Milwaukee area.  Here is a link to his business Facebook page.  https://www.facebook.com/roerdinkremodel/

I do something very similar to you.  I am okay with taking some risk so when saving like this I tend to invest the money in VOO within my taxable brokerage account so it has the change to grow, knowing it also has the change to go down in value.  The other thing I have done in the past is held this money in my cash position within my brokerage account with it not invested.  I use Fidelity and the cash position is like a money market account where I am getting 4.5% interest on my money.

 Before the end of this year it's just get back on track with paying down debt on the last property we just purchased so we can save for the next one.