All Forum Posts by: Logan Splinter

Hey guys!

I’m trying to reach out and see if I can get a referral to a good CPA who either invests in real estate themselves, or works with a lot of real estate investors. Anyone in Southern, WI stick out!? 

Thanks! 

Hey fellow investors! 

I'm looking to transition my investing into Jefferson county (Ft. Atkinson, Watertown, Johnson Creek, Oconomowoc area.) and I am looking to connect with anyone that has any connections to contractors in the area! Hopeful to develop and create awesome relationships that are a win win while i'm at it. Any help would be appreciated!

I know quite a few people that use cozy as well! Check it out. Otherwise PayPal or Venmo (a transfer app owned by PayPal) are two other popular Safe ways to transfer money. 

@Jeff Johns I’ll make sure to check those out! I’m always trying to find new resources for information! 

Hello BP!

I wanted to start a discussion about where/how everyone goes to get their dose of real estate news? Best sites for looking up potential cities to buy in, rental market analysis, trends, rent prices, new laws, etc.

I have a hard time figuring out the best places to go for this information so I’m coming to you guys! Where is the best places to visit that you can call your “real estate encyclopedia!?”

Can’t wait for the reply’s!!

-Logan

Hello BP!

I wanted to start a discussion about where/how everyone goes to get their dose of real estate news? Best sites for looking up potential cities to buy in, rental market analysis, trends, rent prices, new laws, etc.

I have a hard time figuring out the best places to go for this information so I’m coming to you guys! Where is the best places to visit that you can call your “real estate encyclopedia!?”

Can’t wait for the reply’s!!

-Logan

The best place to start is attending local meetups (you can find these in the network page) and/or contacting and participating with your local REIA. Both of these allow great opportunity for networking and you can meet agents, property managers, investors, etc. Surrounding yourself with as many people that are "in the game" already will allow you to be around the people you are looking for.

As for finding investors, that’s going to come with time. Very few investors invest with people that don’t have a track record of successful investments. It can be done but it’s definitely a challenge. Talk with family and friends, most likely these are going to be the first potential investors for your deal as they already know you and if they can or can not trust you. You just got to get your name out there and show people what you are doing and how you can help them make money. Remember it’s not asking someone for money, it’s educating them on  can make them money.

@Richard Davis III works around that area! He’s been great to work with so far. Reach out to him and see how he can help! 

Hey guys!

What does everyone have for coverage for homeowners insurance on their rental properties? I’m about to close on my first property shortly and comparing quotes I’m not sure what is needed/what isn’t or if it’s enough coverage.

Also does anyone have an umbrella policy. I know this is the way to go for liability coverage but curious when to get the policy. If my first property has let’s say $1,000,000 liability coverage, is it over kill getting another umbrella policy right away? Or would it be more feasible once I have a few properties under my belt. 

Thanks in advanced for your help. 

Hey Kameorn!

If i were in your shoes i would review what my investment goals are and see whether or not the bay area has the ability to help me achieve those goals. There are so many different aspects to consider when picking a market to invest in. What is a good market for one may be a market another would never touch. So there really isn't a "Yes invest here" or "No invest there" answer. 

Here are a few things i would consider that might help you decide whether or not the bay area is feasible for your investment goals.

-Are the properties in this area the type of properties you can purchase that work for your desired niche? Are they fix and flips, buy and hold rentals, turnkey, brrrr, etc. 

-Is there an abundant supply of properties for you to go after that will allow you to obtain the cashflow you desire, cash on cash return you desire, and purchase price you can handle?

-Are you an individual that feels like they need to be within a reasonable distance of their property so you can do checkups and be involved with various aspects of the investment directly?

-Do you have a plan for investing out of state? Who is going to be your "Boots on the ground" and how are you going to find them, manage them, etc. 

It all comes down to what you want. And whether or not your market closest to you can supply that. I wish i could give you a solid answer but i don't think there is a right or wrong answer. Take some time to figure out what exactly it is your looking for with your investments, and see if the Bay Area has that. If it does great!!! If it doesn't you can pick a market anywhere that does with some world wide web research!

I hope this helps 

-Logan