All Forum Posts by: Wilson Churchill
Wilson Churchill has started 8 posts and replied 461 times.
Post: Lessons Learned in 40 years as a Real Estate Investor
- Madison Heights, MI
- Posts 471
- Votes 132
Originally posted by @Craig Horton:
Hi Wilson,
The management level in apartments can be very intense. Just be sure you have a team in place when you own and manage apartments. We manage our houses ourselves.
The house tenant usually never calls us to complain about someone in their parking space or having a petty arguement with their neighbor. Makes my life a lot better.
So then you believe that it is easier to buy a 100 unit building, for example, than 100 homes? Just curious about what your experience has been in terms of growth.
Post: Lessons Learned in 40 years as a Real Estate Investor
- Madison Heights, MI
- Posts 471
- Votes 132
Once you accumulate a certain amount of cash/credit, isn't it faster to accumulate by buying large apartments? Or is it not difficult to buy several houses in package deals?
Post: Renting per-room vs whole home
- Madison Heights, MI
- Posts 471
- Votes 132
A friend of mine rents rooms. I don't do it, because it is more management intensive, and most of my rentals are cheap 2 bedroom homes.
Post: Investor delima - 3 options to invest $100k
- Madison Heights, MI
- Posts 471
- Votes 132
Whichever will produce the highest rate of return.. The total return is the dividend (rent) component plus any capital gain. But what separates real estate from other investments is leverage! Which option will allow you to obtain additional loans more quickly?
Post: Turnkey Rental Property a good idea for a first-timer?
- Madison Heights, MI
- Posts 471
- Votes 132
Originally posted by @Cassandra Boyett:
I would absolutely consider a fixer upper if we were local. However, my husband works full time and I am a stay at home mom to 2 very small children and there is nothing in our area (Southern California) we can afford- not even fixer uppers. So it seems that either we buy out of the area (but it would have to be hands-off since we won't be able to be around), or we move out of our house, rent it out, and purchase another home for us with the FHA loan.
I see.. I would be hesitant to buy anything that isn't close enough to drive to and that I couldn't manage directly. I would rather manage properties and eventually hire an assistant than pay a third party.
Post: Turnkey Rental Property a good idea for a first-timer?
- Madison Heights, MI
- Posts 471
- Votes 132
Would you be willing to consider a fixer-upper? You will likely get a much better deal. As long as you, or family or friends are handy, you should be able to get it in good shape and save A LOT of money. Especially for your early deals, it makes sense to maximize your rate of return. Having said that, if the rehab would take months and months, it might be better to get one that is ready to go. A rehab that would only take a month or so would be ideal.
Post: Looking for plumber in SE Michigan
- Madison Heights, MI
- Posts 471
- Votes 132
My buddy Harvey is a master plumber. He is available on nights and weekends. *I make no money for any referrals.*
Post: Complain about Michigan agent?
- Madison Heights, MI
- Posts 471
- Votes 132
Sounds like a small claims case.
Post: Ebola Effect
- Madison Heights, MI
- Posts 471
- Votes 132
The only way I could imagine it affecting the real estate market would be by reducing the population to the extent that there would be an oversupply of housing..
Post: what to do with my millions of dollars???
- Madison Heights, MI
- Posts 471
- Votes 132
Originally posted by @Caleb Mclamb:
@Joe Villeneuve my credit is admittedly bad, 660. this is not because of bad spending habits but because i took bad advise on how to build credit last year and opened four cards simultaneously and haven't used them enough to help my credit rating.
Carry a balance on each card that is greater than 1% but less than 10% of the credit limit.
creditboards.com
myfico.com