Learn how you can acquire more assets and get yourself out of the rat race!
There’s a lot you can do nowadays to profit off of owning real estate. You can house-hack, rent out residential or commercial properties, host Airbnb’s, practice the BRRR method, own a trailer park, own a campground, and so much more. Luckily – you’re here with a gal who binge listens to the “Bigger Pockets Podcast” and reads many of their forums – so where do you begin if you’re in Wisconsin and want to learn how to invest? Well, first you can consider where you’re at right now – Do you have a lot of startup money? Do you want a property manager to do all of the in and out work? Do you already have a home that you’re willing to vacate? Watch my video below about all of the different kinds of investments you can start acquiring right now!
Helping you meet a residential or commercial lender that will get you preapproved to buy a home is the very first step. The benefit of working with a lender I provide you with will ensure the deal will go smoothly when deadlines come around.
In order to get you looking at investments I will need a deep understanding of the criteria in your search. This includes price, location, amount of units, etc. I will then set you up on a search to alert you of all new listings that fit in your basis.
When you find a property that peaks your interest, I will arrange a walk-through where we can see beyond the photos and decide whether it is as promising as presented. I will have comparables prepared at showings so you will know the true market value.
You would never want to purchase a negative cash flowing property so understanding what price you make money and what price you break even at is necessary before jumping in and making an offer on any given investment property.
As your realtor – your best interest is always top of mind. Once you’ve decided on a property you’d like to purchase, I will draft a strong competitive offer and negotiate any counteroffers on your behalf to secure the deal for you.
Making sure we meet all deadlines of our contingencies, this is the point in the process where you can ultimately sit back and relax. I will be at every inspection and appointment finding out any issues with the home that we may need to negotiate upon.
After fulfilling all contingencies, it’s time to finalize the deal and sign the documents that transfer ownership of the home to you. Closing costs will also be paid at this time.
Many of the properties you see for sale on online sites such as Zillow, Trulia, and Realtor.com are not updated. Many have recieved accepted offers that are not being shown which can be a time-waster when you’re doing all the research yourself.
I am more than willing to allow you to see into the MLS which is always up to date and accurate. You will have the ability to see listings as soon as they come up, and will also have the opportunity to see homes that are coming soon to the market.
If you’re interested in having a personalized MLS home search – please fill out the information to the right!
Want to learn more about types of investments you can own in real estate? Check out these articles!
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Check out the FAQs and answers I've provided below!
ARV stands for after-repair value and is a strategy flippers use to calculate the value (and profitability) of a property after completing renovations. If you are working with me and you are looking for a fixer upper I will always have an ARV prepared – but if you are ever trying to calculate it on your own you would take the ARV minus the purchase price, minus the cost of renovations and voila! You have the profit of the investment calculated!
JV in real estate stands for joint venture. This means that two or more people are acquiring an asset together. However, it can appear many different ways. For example, a JV deal could mean your partner may be putting in all of the money and you will be doing the property management – or maybe you’re putting in the same amount of money and agreeing to a 50/50 profit. It’s dependent upon the two investors how it may be handled – but it can be a very strong tactic to use when you’re just beginning to invest in real estate.
Considering sellers typically pay a Realtor’s commission, not the buyers – having a realtor while purchasing an off market deal will only benefit you and protect you. Sure, you can do yourself but a seller will only have their own best interest in mind so if you are not very skilled at negotiating or executing on your own behalf of a legally binding contract, you should consider how much stress using an agent could take off your shoulders.
You absolutely can! You can invest with no money down by partnering up with someone, using seller financing, USDA loans, and other creative funding techniques. However, no two deals ever look the exact same – and investing with no money down can be a lot of work.
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