First Deal hiccups in Milwaukee

[David Venancio]

I'm a new investor setting up shop in Milwaukee! I recently found Bigger Pockets and have been listening to podcasts and reading blogs trying to learn as much as I can. Working on my first deal, found a bank owned SFR that had been partially remodeled, looked good - 3/2 $54k. I accepted a counter offer from the bank, set up a inspection.....all good until we got to the property and all the Cooper was gone, sheet rock ripped out and pipes gone!

Guess it could have been worse! But months time gone...

The one thing I'm learning through listening to the post casts is to be prepared for the unexpected.

Thanks for all the great information, looking forward to closing my first deal!

[Mike Lowery]

David Venancio did you view the property prior to putting in the offer, or during inspection? Or was the property stripped prior to closing and in between acceptance/inspection period?
There was a property listed in my neighborhood that had a sign in front of the yard, was vandalized and then they basically marketed it without making it look vacant and no sign in the yard. Stinks too because it was a good deal and even though I walked by it daily with my dog, I missed out on the opportunity to offer.
Glad your first deal is still moving forward. My partner and I have a verbal acceptance on a property in Milwaukee and beginning our investment journey also!

Happy Hunting!