Flip and Fix in Bay View (Milwaukee), WI

[Teresa Machi]

Investment Info:

Single-family residence fix & flip investment in Bay View.

Purchase price: $105,000
Cash invested: $65,000
Sale price: $215,000

We sold our flip that is located in the heart of Bay View (Milwaukee), WI. We do not prefer to flip as there are so many added benefits to the buy and hold strategy, but the market calls for it so we will continue to take on as many as we can. This particular property did not have a garage, but it didn't deter us because we've flipped similar properties in the area. In addition, it's in great walking distance to a lot of shops and restaurants.

What made you interested in investing in this type of deal?

We invest heavily in Bay View and found it would be a beneficial deal. At first we were going to add it to our rental portfolio, but then realized it would a decent payday if we turned it into a flip.

How did you find this deal and how did you negotiate it?

This was through a wholesaler and the property was brought to us.

How did you finance this deal?

Cash

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Mach1 Lending

[Teresa Machi]

We've been flipping for about 3/4 years now.  Flipping definitely isn't our primary choice for investing.  We began buying and holding about 10 years ago.  Buy and hold properties have to be the right price in order for us to purchase, we were spoiled in 2009 buying duplexes in Bay View for $100K.  That being said, we still buy for our portfolio but the numbers need to make sense.  We invest primarily in single families and duplexes in A/B area and have about 80 units.  The passive income from our investment portfolio and hard money lending is our preference when it comes to investing.