Updated about 2 years ago on . Most recent reply
Closed Our First Deal!
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $140,000
Cash invested: $28,000
A very typical 3/1 1225 sq ft bungalow in the Uptown neighborhood. It's just on the border of Tosa in an area that is getting better every year with high rent demand and growing values.
What made you interested in investing in this type of deal?
My wife and I made our first investment purchase in Dec '23. We purchased a single family home in Milwaukee. Her entire family is around the area and given the very high entry costs where we live in Colorado, this was a great long distance market for us.
How did you find this deal and how did you negotiate it?
Through connections made here on BP. I first contacted a highly regarded property management company who then suggested a great investment focused real estate team to work with.
How did you finance this deal?
My realtor recommended a fantastic local bank and mortgage officer who was able to close the deal on a conventional loan in about 21 days including the Thanksgiving holiday.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Ed Riggenbach with Welcome Home Milwaukee for property management
Spencer Harvey with Keller Williams
Carol Ford with Waukesha State Bank