We are in the game!

[Teri Platta]

We are excited to say that on November 15th we closed on our first investment property! We bought a 3 bed 1.5 bath fully rehabbed SFH (from a flipper) in Brown Deer, a suburb of Milwaukee. And we had it rented by Dec 1! Here are some very basic numbers,

Purchase price: $137,500

PITI: $866

Rent: $1450 (tenant pays all utilities)

I’d like to take this time to give a shout out to our agent @Marcus Auerbach. We really could not have done it without his expertise, he is truly an investors agent! Marcus is an investor himself, practicing the BRRR strategy. So he is not only knowledgeable about the market, and the numbers, but since he acts as his own general contractor, he has a wealth of information about the construction and maintenance of homes and their systems.

In our first meeting, we spent over an hour discussing our business plan and goals; Marcus shared his perspective and helped us fine-tune our plan for success. Following our planning session, he demonstrated a thorough knowledge of the market and took time to educate us in this regard. Once we identified our target market, he led us on several walk-throughs of a variety of price points to help familiarize ourselves with available options. One the best aspects of the walk-throughs is that Marcus explained, in detail, potential concerns or improvements for each property; leveraging his experience in rehabbing properties to provide us with a variety of scenarios.

Prior to closing, Marcus was with us during the final walk-through – not only checking the property, but spending an hour discussing the necessary documentation and answering our questions regarding tenancy. We truly believe that Marcus’ collective knowledge, insight and guidance has put us in a position to be successful!

And now we can call officially ourselves Real Estate Investors!