Looking to build a team in Milwaukee WI for BRRRR / Buy & Hold

[Jacob D Itzenheiser]

Hello BP,

I am looking to invest in Milwaukee utilizing the BRRRR strategy. Primarily interested in buy and hold and am looking for referrals for local PMs, lenders, agents, and GCs.

I am currently located in Washington state but I grew up in Southeastern WI and lived in Milwaukee for almost a decade before moving West for work. My family is local to the area and I travel back home several times a year. 

Looking forward to connecting and visiting in person once travel opens back up.

Thank you in advance

[Marcus Auerbach]

Hi @Jacob D Itzenheiser I have been BRRR ing properties for about ten years in Milwaukee and my financial model has shifted over the years, as the market has become more and more competitive. Right now we experience somthing I call the corona squeeze - sellers are a lot more impacted by CV than buyers, as their potential exposure is much less. I hope and expect this to change in the next weeks, as we move towards lifting restrictions. Last night the supreme court actually tunred over the Safer at Home order from Gov Evers. I always try to adjust my strategy to the market and one of the things in our favor right now are interest rates, while the cost of labor is rather high. At the moment it is better to acquire more value with a smaller scope of work. We have also seen solid appreciation, about 8% last year and I don't expect a chnage in trend; at the moment the market seems to be even more competitive than BC - before corona