<< First  < Prev   1   2   3   4   Next >  Last >> 
  • 23 Feb 2022 7:30 AM | WiscoREIA (Administrator)

    Real Estate Voted the Best Investment Eight Years in A Row

    Real Estate Voted the Best Investment Eight Years in a Row

    In an annual Gallup poll, Americans chose real estate as the best long-term investment. And it’s not the first time it’s topped the list, either. Real estate has been on a winning streak for the past eight years, consistently gaining traction as the best long-term investment (see graph below):

    Real Estate Voted the Best Investment Eight Years in a Row | Keeping Current Matters

    If you’re thinking about purchasing a home this year, this poll should reassure you. Even when inflation is rising like it is today, Americans agree an investment like real estate truly shines.

    Why Is Real Estate a Great Investment During Times of High Inflation?

    With inflation reaching its highest level in 40 years, it’s more important than ever to understand the financial benefits of homeownership. Rising inflation means prices are increasing across the board. That includes goods, services, housing costs, and more. But when you purchase your home, you lock in your monthly housing payments, effectively shielding yourself from increasing housing payments. James Royal, Senior Wealth Management Reporter at Bankrateexplains it like this:

    A fixed-rate mortgage allows you to maintain the biggest portion of housing expenses at the same payment. Sure, property taxes will rise and other expenses may creep up, but your monthly housing payment remains the same.”

    If you’re a renter, you don’t have that same benefit, and you aren’t protected from increases in your housing costs, especially rising rents.

    History Shows During Inflationary Periods, Home Prices Rise as Well

    As a homeowner, your house is an asset that typically increases in value over time, even during inflation. That‘s because, as prices rise, the value of your home does, too. And that makes buying a home a great hedge during periods of high inflation. Natalie Campisi, Advisor Staff for Forbesnotes:

    Tangible assets like real estate get more valuable over time, which makes buying a home a good way to spend your money during inflationary times.

    Bottom Line

    Housing truly is a strong investment, especially when inflation is high. When you lock in a mortgage payment, you’re shielded from housing cost increases, and you own an asset that typically gains value with time. If you want to better understand how buying a home could be a great investment for you, connect with a local real estate advisor today.


  • 21 Jan 2022 7:00 AM | WiscoREIA (Administrator)

    Ever wonder how the big guns of the entrepreneurial world seem to skyrocket their success without blowing up cash flow? There's no secret sauce you're missing out on - but there's a formula for it!

    The key component in this equation involves leveraging offshore outsourcing and hiring virtual assistants. Without these two items, executing other steps could be hard (unless you've got cash raining down from heaven)!

    So let's delve deeper into the benefits of hiring a Virtual Assistant today.

    Why Hire A Virtual Assistant?

    Hiring virtual assistants has many benefits. They are generally cheaper than domestic employees and can offer the flexibility to multi-task across many aspects of your business. There are also various virtual assistant companies that can help make the hiring process easier.

    Here Are The Top Ten Reasons Why

    Successful Companies Are Hiring Virtual


    1.  Time Is Your Goldmine
    2.  Cost-Effective Business Scalability
    3.  You Maintain Entrepreneurial Sanity With The Help Of A Virtual Assistant
    4.  Escape The Admin Jungle
    5.  Streamline Your Business Operations By Hiring A Virtual Assistant
    6.  Improve Your Products And Services When You Hire A Virtual Assistant
    7.  Provide 24/7 Business Or Customer Service
    8. Maintain A Killer Online Strategy With The Use Of A Virtual Assistant
    9. Avoid Selling Your Soul To Your Business
    10.  Getting A Virtual Assistant Can Increase The Asset Value Of Your Business

    1. Time Is Your Goldmine

    The most valuable asset anyone has today is time, and money only comes in second.

    Successful businesses recognise that time is the best asset to keep a tight grip on. Without time to think strategically, forge new relationships, and develop ideas, all you have is a business that refuses to grow regardless of how much you work at it. And entrepreneurs that spend their days locked in low-level administrative tasks like email management and customer support are kidding themselves that they have any chance of growing a successful company.

    why hire a virtual assistant

    Why Should You Hire A Virtual Assistant?

    To reclaim your time, you need to hire people and learn to delegate. But hiring staff can really rip into your bottom-line so it’s a catch-22 situation that plagues a lot of businesses…unless you follow the clever herd and embrace offshore virtual assistants.

    Hiring a virtual assistant solves the catch-22 and allows you to break out of the deep crevice that exists between startup and growth…without blowing up your cash flow.

    2. Cost-Effective Business Scalability

    Business growth requires capital. By hiring virtual assistants, you can substantially reduce your capital needs. Not only is the cost of hiring a virtual assistant substantially less than hiring domestically (for most Western nations), but the ongoing costs of management and development are also less.

    By embracing the offshore virtual assistant model and making a commitment to making it work, you can really ramp up your team without blowing up your balance sheet.

    In addition, you can utilise any domestic staff you have for more high value, localised work. It’s a win-win. You lower your costs while simultaneously building up your team and increasing the value of the work produced per dollar spent on salaries.

    3. You Maintain Entrepreneurial Sanity

    With The Help Of A Virtual Assistant

    One of the key things for entrepreneurial success is mindset, but we don’t all do the mindset thing very well!

    If you find your tasks or to-do lists piling up so you’re ending up scattered and achieving less and you’re getting a little too overwhelmed with the things you need to do for your business, then here’s an insight: The best virtual assistant can help you with all of that!

    Delegating tasks to someone reliable and able to manage several duties and responsibilities is one way to avoid becoming overwhelmed. You can divide or handover the items on your to-do list to a VA. This is why you should hire a virtual assistant.

    You can prepare a detailed list of tasks to outsource to a virtual assistant – things you need to get done and help you grow your business. Virtual assistants are very organised and can help you prioritise which tasks to do first. Some of them have had training and years of experience in assisting business owners.

    Your sanity is important to your entrepreneurial success. Hire a virtual assistant and stay sane!

    4. Escape The Admin Jungle

    If anything will drag you away from growing your business, it’s the admin vortex. This could potentially be one of the best reasons to hire a virtual assistant. Administrative tasks can be easily delegated to a Virtual Assistant, because they are process-driven and repetitive. Having a Virtual Assistant on your team can ensure these tasks are done on time, leaving you to focus on other, high-level tasks.

    Some Of The Most Common Administrative Tasks That A Hired Virtual Assistant Can Do:

    • Administrative and office support activities for multiple supervisors
    • Receptionist tasks such as fielding telephone calls and managing appointment bookings
    • Responding to emails and helping to filter them for easier management
    • Word processing, creating spreadsheets and presentations
    • Organising your Dropbox and Google Drive folders.
    • Internet research
    • Data entry

    If you’re assigning your virtual assistant these admin tasks, try to be as detailed and specific as you can. Skill sets of virtual assistants vary, and while most VAs can easily breeze through your task list, it’s still important to be clear on what duties and responsibilities you want your VA to take on.

    Ultimately, having someone take on the recurring admin tasks in your projects will help the growth of your business.

    5. Streamline Your Business Operations

    By Hiring A Virtual Assistant

    Having well-documented processes and systems in your business spells success when hiring a virtual assistant. If you don’t have these processes in place yet, a virtual assistant can help you set them up and make your operations more streamlined.

    Because VAs work remotely, it forces both sides to increase the focus on efficient processes, effective communication, and advanced reporting channels. This is how you can really use virtual assistants to help grow your business.

    6. Improve Your Products And Services

    When You Hire A Virtual Assistant

    Virtual assistants can help improve the product and services you offer in the market by being your eyes and ears in the market and throughout your customer base.

    As a business owner, you need to know the needs of your customers or prospective clients. You do this by monitoring the markets you operate in, listening for conversations on social media about your brand or industry, watching what competitors are doing and saying, collating feedback from current clients, and generally staying abreast of industry news.

    why hire a virtual assistant

    While this helps your business a lot, this also takes time and energy. These tasks can be outsourced to a virtual assistant. They can collate this information and document the data you need.

    Having quick access to this data can be a game changer in your business, especially if you’re not the one tied up doing it. Your virtual assistant can gather this data on a continuous basis to help you improve your business.

    7. Provide 24/7 Business Or Customer


    why hire a virtual assistant

    One way to widen your market is to be available 24/7 for customer support. This is particularly important for online stores that work on a global scale.

    This can be achieved by hiring a team of virtual assistants who can provide support for customers in different time zones. A virtual team can even provide service during official holidays.

    Some Things That You Can Have Your VA Do Are:

    • Responding to customer questions
    • Creating email responses or Frequently Asked Questions
    • Checking on clients, especially long-term clients
    • Dealing with complaints or requests for refunds or discounts
    • Create a welcome pack for new customers

    They are also the quickest solution to temporary manpower shortages.

    8. Maintain A Killer Online Strategy With

    The Use Of A Virtual Assistant

    In this age of mobile technology where social media, video, and content marketing have become the norm, it’s expected that every business has an online presence.

    But There Are Two Issues In This Area:

    • A strong results-focused strategy is needed for effective implementation
    • The work involved in implementing and maintaining an effective online strategy is extremely time-consuming.

    Virtual assistants are a fantastic resource in this area. All things digital are, by nature, online and ‘virtual’, so the concept of having a virtual person implementing and maintaining this strategy for you is easier to get your head around.

    You no longer need to spend all day creating images on Canva, collecting quotes, and sharing tips on social media – your VA can do these things for you.

    Your virtual assistant can also save the time you spend on creating new content to feed your marketing strategy by taking whatever podcasts, articles, webinars you already have and repurposing them into other types of content – infographics, SlideShares, blog posts, Ebooks… the list goes on.

    You need to be online but you don’t need to get bogged down in the work involved.

    9. Avoid Selling Your Soul To Your


    Let’s be honest, hiring a virtual assistant to help manage, oversee, and do tasks on your list helps ease the workload and stress you face in the day to day operations of your business. At the same time, it also allows you more leisure time with your family and friends. So, you are basically taking back your social life.

    Also, by giving your Virtual Assistant responsibilities and tasks from your list, like those repetitive tasks, you add more productive hours to your day.

    Getting more free time allows you to function better and avoid suffering from burnout. It allows you to focus on what really matters in your business.

    More free time also means more time for people who are important in your life.

    We must remember, other than being an entrepreneur, we also play different roles at home. We also have personal relationships which need care and attention. Having someone to help organize schedules and tasks (and do some small personal errands, as well) frees up more time for us. And, free time means more time for ourselves, family and friends.

    10. Getting A Virtual Assistant Can

    Increase The Asset Value Of Your


    When done right, working with virtual teams forces you to develop very strong, efficient processes and solid communication and to utilize technology in more creative ways.

    Once you hone each of these areas and ensure tasks can be delegated to anyone who steps in, it means your business is systematised. This creates a far more valuable asset if you ever decide to sell the business.

    why hire a virtual assistant

    Go On... Hire A Virtual Assistant For

    Your Business!

    Why hire a Virtual Assistant? They are a fantastic asset to you and your business, especially when integrated correctly. So many people think they need a Virtual Assistant for just a few hours here and there, but the truth is, there are so many tasks we can delegate to a Virtual Assistant and so many things our Virtual Assistants can do for us.

    Want to know more? Send an email to We will teach you all you need to know about what virtual assistants can do to help you grow your business. It is well worth the investment to bring someone on more permanently and build them into your growth plans.

  • 29 Dec 2021 8:30 AM | WiscoREIA (Administrator)

    Abundance Mastermind Group

    accomplish anything.

    Take your life and business to another level beyond your expectations.

    Joining a mastermind group is the first step to real success.
    It’s up to you! Are you ready?

    About us.

    Abundance is a Wisconsin-based mastermind group founded by the owners of the Wisconsin Real Estate Investors Association.

    The mastermind group consists of experienced investors, finance professionals, business experts and consultants, and other individuals who are masters in their field and are there to help you succeed in your life and business.


    Why join a mastermind group?

    Imagine an elite boardroom filled with your own personal advisors that are all focused on you and your roadblocks both personally and in business.

    Mastermind groups are powerful.

    How does it work?

    1. Interview & Screening

    Getting into the mastermind group is a process. You will be screened and interviewed so we can ultimately decide if you are a correct fit. There will be specific requirements and qualifications to join this amazing group of professionals.

    2. Meetups

    Abundance will have three retreats per year plus monthly virtual mastermind group calls.

    Who are your members?

    • Coaches
    • Fitness Experts
    • Experienced investors
    • Finance professionals
    • Business experts and consultants
    • Accountants and CPAs
    • Marketing Experts
    • Real estate attorneys
    • Corporate attorneys
    • Real estate business owners
    • Executives of real-estate-related vendors
    • And more…

    Well. What are you waiting for? It’s time to take the next step…

    Apply Now

  • 24 Nov 2021 8:21 AM | WiscoREIA (Administrator)

    ATTENTION: Green Bay's Christmas Party will be held at the Lyric Room, 231 N Broadway, Green Bay! December 7th, 7 PM CST.

    Expect networking games, Christmas prizes, investor recognition, food and drinks, ugliest sweater contest, sponsor give aways, and lots of networking!  ✨

    Pre-register at to be included in the check-in list!

  • 29 Oct 2021 9:00 AM | WiscoREIA (Administrator)

    We are excited to introduce our new Green Bay & Appleton Hosts, Joe Gracyalny and Geoff Possley!   Welcome to the WiscoREIA family!  Joe will be replacing our former Green Bay host, David Nelson, and Geoff will be replacing Cory Schubert from Appleton.

    Let's give them both a warm welcome!

    #wiscoreia #networking #realestateinvesting

  • 15 Oct 2021 10:30 AM | WiscoREIA (Administrator)

    What is WiscoREIA?

    WiscoREIA is the best place to learn real estate in the state of Wisconsin. New to real estate? WiscoREIA is the perfect place for you to learn, make connections, and land deals! A veteran in real estate? Network with like-minded investors and business owners and grow your business even further!

    We are the biggest REIA in Wisconsin with over 650 members and six locations. Green Bay, Eau Claire, Kenosha, Appleton, Wausau, and Madison.

    What are the benefits of being a WiscoREIA member?

    Our Membership Swag Bag includes:
    • Exclusive Coaching Sessions: Access to on-hand coaching sessions with local, national, and international experts, trainers, investors, and business owners.
    • Event VIP Access: Get access to WiscoREIA's monthly events for FREE in all locations: Green Bay, Eau Claire, Appleton, Kenosha, Madison, and Wausau.
    • Monthly Virtual REIA: Learn and Network anytime, anywhere! Paid members get access to livestreams of physical meetups and exclusive online coaching sessions.
    • Sponsor & Vendor Offers: Access local vendors and service providers that will make a difference in your business.
    • Online Subscriptions: Fresh Picked Leads, Rehab Estimator Pro, Real Deal Coaching, and More!
    • Make Connections: Network with like-minded investors, the people you need and want to know. Land deals! Get exposure and make friends!

    Interested? Sign up at now!

  • 16 Jun 2021 1:00 PM | WiscoREIA (Administrator)

    Other Agents Are Not the Enemy

    People have a tendency to assume that anyone sitting on the other side of the table during a transaction is an enemy. However, that mindset is detrimental to everyone involved. In the world of real estate, relationships are crucial, and that includes cultivating relationships with other agents.

    It’s a Small World
    The expression may seem cliché, but you know, have met or at least have an impression of the other agents in your area, and they have an impression of you. Part of developing your brand identity is actively working to ensure that your interactions with others in the industry are creating positive impressions.

    While real estate is competitive in many regards, building trust with other agents can lead to better outcomes for everyone. Having a good rapport makes it easy to pick up the phone and have a conversation when hiccups occur during a sale. It’s easier to solve an issue when you trust the person on the other end of the line.

    It’s Not What You Know; It’s Who You Know
    Everyone loves a referral, but it might not come from where you would expect. Developing relationships with other agents can help on that front, as well. An agent from the other side of the country you met at a conference might have a client moving to your area. Perhaps another agent already in your area knows a different market sector that you don’t have as much experience in. Developing relationships allows you to tap into a network of benefits.

    Teamwork Makes the Dream Work
    It has been said that “a rising tide lifts all boats,” and creating the best possible team is a win for everyone, including your clients. When you recognize the talent and expertise that another agent could add to your team, you develop a synergy that goes beyond what any single agent might be able to offer on their own. Leadership through serving others means that you might be able to help someone else along, which, in turn, benefits everyone.

    Build. Build. Build.
    We cannot emphasize this point enough…build relationships with other agents. Treat each other with respect and professionalism. It benefits us all personally and professionally!


  • 5 May 2021 12:00 PM | WiscoREIA (Administrator)

    Read the April Newsletter below!

    Download link: WiscoREIA May 2021 Newsletter

  • 23 Apr 2021 12:00 PM | WiscoREIA (Administrator)

    Read the April Newsletter below!

    Download link: WiscoREIA April 2021 Newsletter

  • 7 Apr 2021 12:00 PM | WiscoREIA (Administrator)

    Real estate has some tremendous superpowers—not the least of which is its ability to help you find financial freedom and leave your terrible day job. Do you want to travel the world? Dedicate more time to volunteer efforts? Focus on raising your kids? A thriving real estate business providing you with passive income can be the key.

    But there’s a catch: To achieve true financial independence, you have to really love real estate. Just because you’re ditching the nine to five paycheck doesn’t mean real estate investors don’t work. In many ways, it’s still a full-time job. You’ll just have more freedom to arrange their lives in the way that best suits them.

    Start with the basic elements of financial freedom

    Before digging into how you should build your net worth, let’s start with the basics: Getting your finances in order. After all, financial freedom won’t feel that free if you’re still trapped by debt and bad financial habits. Here’s what to look at before you start pursuing real estate.

    Credit cards

    Credit cards aren’t inherently bad—in fact, utilizing credit card rewards and the purchase protections offered by said cards can be a smart financial strategy! However, many Americans can’t use a credit card without overspending. If you have credit card debt, pay it down as quickly as you can. If you’re prone to impulse buying, consider either getting rid of your cards or pursuing financial counseling. Over time, you can change your mindset toward credit, and eventually can use these cards as intended: As excellent sources of rewards.

    Emergency funds

    Do you have money set aside in case of an emergency? What would happen if you lost your job—before fully executing your wealth-building strategies, of course—or you have a significant unexpected expense, like a medical bill? Start with a small emergency fund (many experts say $1,000 is a good starting point), then build it over time. Ultimately, you should be able to cover six months of living expenses without your primary income. Consider creating a bank account explicitly for your emergency fund. Keep that money in your savings account until you need it.

    Other debt

    Do you have student loans or a car loan? A large mortgage? You don’t necessarily need to pay these off before beginning your real estate investment career, but it is important to understand exactly how much debt you have. This will be important for lenders, too: Before lending, they’ll calculate your debt-to-income ratio. Many consider 36% the highest allowable ratio, including a new mortgage, if you need to take one out. Wrangle your debt before investing to ensure your best chances of landing a loan.

    Should you quit your job to pursue real estate?

    Before we dive into the nitty-gritty of financial freedom through real estate, let’s discuss whether quitting your job is truly the best solution for you.

    Ideally, you should find what you love to do in life more than anything else and do that for a career. If that means teaching high school math, teach high school math. If that means traveling the world, then find a job that travels the world.

    And if that means investing in real estate for a career… then invest in real estate for a career. Because full-time real estate investors still work—in fact, the job often feels more like a lifestyle. While there are some truly passive investments, such as REITs (or real estate investment trusts), full-time investing usually involves work. You’ll need to:

    • Talk with troubled homeowners
    • Send out massive amounts of direct mail
    • Network with established real estate investors.

    Does that sound like something you’d hate? Everyone can, and should, create a real estate portfolio as part of their strategy for retirement and wealth building—and many current millionaires have followed that exact path. But full-time real estate is a full-time commitment.

    Ready to dive into real estate investing as a full-time career? Here’s your path to financial freedom.

    Educate yourself

    If you’re unfamiliar with real estate investing, brush up on your basics. Do this before you even consider dipping a toe in the full-time waters.

    Start by deciding which strategy will be your focus. There are a number of different types of real estate, and each type has unique pros and cons.


    This process is where you locate amazing deals, put them under contract, and sell that contract to an investor or house flipper—and make a sizable profit doing so. Wholesalers master the most valuable skill for a real estate investor to possess: how to buy right.

    Wholesaling works. However, while wholesaling might be fairly “simple”—it’s not easy or quick. It takes hard work, skill, motivation, and certain personality traits (like the ability to negotiate). Consistently finding deals that are worth pursuing can be a time-consuming job.

    House flipping

    This can be an exciting and profitable way to earn income. You’ve probably seen flipping TV shows where investors turn a dump into a mansion in three weeks and profit hundreds of thousands of dollars. While this is possible, don’t enter real estate expecting this to happen to you. Make sure you understand both construction and the market before starting a fix and flip business.

    Flipping houses is a lot of fun, and fantastic profits can be made. However, there are some important considerations to make before jumping in head-first to your career as a full-time investor:

    • How will you fund your flipping business if you don’t have a job?
    • How will you make your monthly payments if you don’t have a job?
    • Is your location conducive to flipping?

    Buy and hold cash flow investing

    Buy and hold cash flow investing produces a stable of cash-flowing properties. That can add up quickly to provide significant income. This can be a great option for long-term investing, but keep in mind that you’ll need significant monetary reserves when things go wrong.

    Educating yourself goes way beyond simply picking your favorite real estate strategy.

    • Sign up for BiggerPockets. If you are reading this blog post but haven’t signed up for a free account, stop what you are doing right now and sign up. Trust me.
    • Read the Ultimate Beginner’s Guide to Real Estate Investing. This is a quick, free online training manual that we put together to help you build a solid foundation for your future in real estate. Internalize it. Make it make sense. And if you don’t understand something, go ask about it on the BiggerPockets Forums.
    • Fully fill out your BiggerPockets profile. Include a nice picture of your face. Detail your history, your goals, and your wants/desires on your profile. People look at these things! Make it count.
    • Introduce yourself to the community in the New Member Introduction Forum.
    • Ask questions and offer ideas. If you aren’t an active member of the Forums, you are simply missing out on one of the most powerful tools on the planet for becoming a real estateinvestor. Ask questions, get answers. Answer questions, get smarter. Build your online brand. People will start to follow you and help you out. They will give you honest feedback on your ideas, your plans, your goals, your timelines, and more.

    Learn about your local market, too. Are jobs growing? Incomes? What does the population look like? Network with local investors and real estate agents—and make sure to visit homes for sale in your area before you start bidding. Knowing what your market offers in different price ranges is essential knowledge for all real estate investors, regardless of your strategy.

    Create a customized business plan

    A business plan works like a blueprint created by an architect.

    Keep in mind: This plan is doomed to be flawed, despite your best preparation and education. Expect to change your plan as your understanding of the local market—and your abilities and interests—change.

    Here’s what your business plan needs to address:

    1. What is the purpose and the model for my business?
    2. How will I raise capital for operations and for acquisitions?
    3. What is a good deal? What objective deal criteria will I stick to?
    4. Who is my target end-user? What do they really want? Where do they live?
    5. How will I find prospective deals? How will I convert them to purchases?

    Too many beginners look for answers before they even ask the right questions. Phrasing the major cornerstones of a business plan as questions means that naturally, you will try to answer them. And when you lack good answers, go back to your educational resources or local professionals.

    Think about your finances, too

    If you’re ditching your job for real estate, you’ll need a plan for that, too. Quitting your job is a big deal—with big financial consequences. Entering the world of self-employment is a risky venture. Most startup companies fail, largely because they run out of money.

    If you are looking to quit your job you are going to need to make some sacrifices—starting with your living expenses.

    • Do you really need cable TV?
    • How about that car payment?
    • Gym membership?
    • Starbucks?

    If you are serious about making real estate investing a full-time gig, it’s time to cut your expenses. Decide right now what is essential and what is luxury. You can always add the luxury stuff back in later.

    In addition to cutting your expenses, you’ll also need cash. Having a large financial cushion is imperative. The amount you’ll need is largely dependent on your personal situation, but try to have at least six months of savings before quitting your job.

    One additional point to make here: a great sacrifice to make is your home itself. Buying a small multifamily property, living in one unit, and renting the other unit out (a strategy called house hacking) is a great way to live cheap—or free—and learn the real estate investing business.

    Build your team and network

    Identifying and recruiting excellent team members is key to financial freedom through real estate. Here is a list of my most important members, why they’re important, and how I plan to recruit the right people for this role.

    Money sources

    Without money sources, the rest of your team members won’t matter. You can’t fix a fix and flip unless you can buy a fix and flip.

    Build banking relationships with lenders who offer a home equity line of credit (HELOC), and work with private lenders to fund the balance of your capital needs. Unfortunately, finding a private lender is not easy or fast. It can take “slow dances” with potential lenders before one or more will commit their money.

    You also want someone you trust, with long-term goals that align with yours. Long-term partnerships are essential to real estate investing.

    General contractor / project manager

    Unless you’re skilled in construction, you’ll need a contractor or project manager who can analyze repair costs, avoid large problems, and manage a rehab project from start to finish.

    Here are some qualities to look for in a partner:

    • Competency: Your contractor must be skilled in the world of construction. They should know costs and best practices for all of the trades you will be hiring—from plumbers to electricians. They also need to have all of the proper licenses and liability insurance.
    • Honesty: Can you trust them? Do you pick up on dishonesty, even in small things?
    • Organizational skills: Can this person handle many moving parts without dropping the ball? Maybe they’re old school with a planner and paper or totally digital. Whatever the case, look for a strong system.
    • Low overhead: You’re not paying for big trucks, extra office space, or fancy staff to feed your contractor’s ego. You want lean, cut-to-the-bone overhead.
    • Fun to be around: You’ll be talking to this person a lot. Will you have fun? Or will you dread having to talk with him?

    Broker and expert listing agent

    You won’t make money without buying and selling your inventory. So, you need to know everything possible about how to move houses as fast as possible and for top price.

    Some real estate investors choose to become licensed real estate agents—and there’s nothing wrong with that. But if that’s not an avenue you’re ready to pursue (yet), partnering with an investor-friendly agent is key. Here’s what your agent should do:

    • Consult with you while negotiating properties you’re buying
    • Providing estimates of after repair value (ARV), including lists of the best comps
    • Consulting on design, layout, paint colors, finishes, and other rehab choices
    • Staging the house for showing
    • Taking professional-quality pictures for marketing
    • Marketing the property through all the traditional channels, like signs, MLS, online websites such as Zillow, and networking
    • Being your eyes, ears, and advisor during negotiations with buyers
    • Handling details required to get a deal to closing

    That is a pretty powerful combination, don’t you think? Having an expert team member willing to provide these benefits will give you confidence.


    Team members fill expertise gaps—and the business of real estate transactions can be a minefield of legal problems. Trusted legal counsel is a necessity.

    In addition to looking for the basics, like being a straight talker, choose your attorney based upon expertise and experience in the following areas:

    • Real estate contract litigation: No one wants to litigate, but attorneys should be able to draw up contracts based upon knowledge of how litigation will proceed. This expertise allows you to preempt problems by including specific language in contracts.
    • Real estate transactions and title insurance: Look for someone intimately familiar with real estate closings. It’s even better if they have a team of paralegals on staff who can help manage minor issues.
    • Basic entity structuring, estate planning, and asset protection: An attorney can help create a basic legal entity to perform your buy-sell business.


    Before setting up your legal entity with your lawyer, talk to an accountant about the best option for your business. That may be an LLC, S Corporation, or C Corporation—but the right answer depends on your state and business strategy.

    You may also want to consider a bookkeeper, eventually. Smaller investors can often get by using a program like QuickBooks to further organize accounting activities.

    Decide what a good deal is (for you)

    To help guide your business, create a detailed profile of a good deal. First, you’ll want to understand the basics of deal analysis. Here’s what you should know for each deal:

    • Sales costs, such as commissions, closing costs, and home warranty
    • Desired profit
    • Holding costs, such as taxes, insurance, utilities, and maintenance
    • Rehab costs, including labor, materials, and permits
    • Acquisitions costs, such as attorney or title fees, closing costs, and inspections

    For example, a fix and flip or BRRRR investor would subtract these costs from the property’s ARV to find their max purchase price.

    Be careful with deal analysis: Numbers can be deceiving. In other words, everything that glitters is not gold—or everything that meets your formula is not always a good deal.

    You need criteria beyond numbers. You must check the assumptions behind said numbers.

    First of all, be careful with the rehab costs. This is why your contractor is so key, and it’s why pre-purchase inspections are always money well-spent.

    Second, be careful with the assumptions behind your ARV. Consider making a “desirability checklist” of qualitative criteria about the house and location. If the house checks three or more boxes, consider passing. Overcoming that many negative factors can be difficult.

    Problems to include on your list include:

    • Unsafe neighborhoods
    • Neighborhoods with mostly tenants and not owners
    • Properties too far from jobs, shopping, and amenities (10-plus miles)
    • Steep lots
    • Busy roads
    • Obnoxious outdoor smells or obnoxious next-door neighbors
    • Large power lines nearby
    • Extra-small house size
    • Two-bedroom houses, if they’re hard to sell in your market
    • Weird layout (e.g., walk through bedroom to another bedroom)
    • In-ground pool, if you’re buying in cooler areas

    Create a marketing plan to find good deals

    All of this hard work is for naught if you can’t find good deals. You want to create systems that bring you opportunities to buy deals—or leads—so you aren’t constantly chasing them down. Consider including the following elements in your marketing plan.

    MLS leads

    A real estate license provides access to the multiple listing service (MLS). If you’re unlicensed, your agent can help you set this up. Use daily filters to send listed properties straight to your email inbox.

    For instance, your MLS filter might look like this:

    • Within your target location
    • Status of new listing, change in price, or back on the market
    • List price below 70% of your top retail price
    • Square footage above 1,200 sq. ft.

    Referral campaigns

    Send letters to local professionals telling them that you’re buying properties in any condition for cash. But don’t expect an immediate rush of results: You’re building relationships. Over the long run, 25-50% of your deals will come from these sources. Potential sources could include:

    • Attorneys handling probates, divorces, foreclosures, and bankruptcies
    • Property managers
    • Commercial real estate brokers, who can send you their small stuff
    • Residential real estate agents, who can send their ugly properties
    • CPAs
    • Financial advisors

    Internet marketing

    Focused online activity can generate leads from potential sellers. Specific projects might include:

    • Create a website with video and content.
    • Create a good BiggerPockets profile, including target markets. Make 10-plus Forum posts per week.
    • Create a Trulia and Zillow profile and answer 10-plus questions per week on their Q&A forums.
    • Create a LinkedIn profile and share an interesting tip or news update per week.

    Build your ant farm

    Recruit your family, friends, and local contacts to be “ants” and bring morsels—or leads—back to you. Ask them to be on the lookout for vacant or rundown houses during their daily routines. If they see one, the instructions are simple: Text me the address, and I’ll do the rest.


<< First  < Prev   1   2   3   4   Next >  Last >> 
2065 American Dr, Suite A Neenah, WI 54956

‪For inquiries, please send a message to Francesca Jonker-Miranda, WiscoREIA Executive Director
(608) 616-5277‬‬ •

Powered by Wild Apricot Membership Software