All Forum Posts by: Bar Shalom Laniado

Does anyone have recommendations for trusted boots on the ground in Milwaukee, WI?

Thanks!

Hello,

I'm in the process of purchasing a new property for a buy and hold strategy. The seller and I have already signed the contract, but now the listing agent is requesting that I sign a correction stating that my inspector is not allowed to conduct a lead-based paint test. If I were to go ahead with the test and it comes back positive, what would that mean? How can I address this issue? Would it require a major renovation? What are the consequences of having lead-based paint? Do you have any estimate of the extent of the problem?

Additionally, they have added a clause to the contract stating that I must provide the survey. What are your thoughts on conducting a survey? Is it important?

Thank you.

Thank you all!

Hey,

I am a Wisconsin investor and I consider start investing in TX.

I have LLC in Wisconsin. Could you please advice regarding the following:

1. Can I use the Wisconsin LLC to hold my TX properties?

2. Should I do it? Are there advantages to open a new LLC?

Note: I may practice in wholesale deals in both markets 

Thanks!

Hey,

I just started my journey as a foreign real estate investor and I think a good start would be to read BP books. What books do you recommend me to read and in which order?

For now I think on BRRRR strategy so I need get knowledge on each stage.

Thanks!  

Thank you guys,

Yesterday, I attended a real estate investors conference where I had the opportunity to meet the individual who runs the mediator company. During his speech, he emphasized that management companies are not always able to provide extensive details and personal attention to every investor, and that in some cases, they may have to let go of investors who excessively harass them.

@Nathan Gesner @Dave E.
We appreciate all the advice provided so far, and we do plan to transition our property to a more competent management company. However, we would also like to address the current situation with the mediator company. We do not want to leave the company without an explanation for the charges applied to our account, and we are concerned that they will request us to close the negative balance. We are unwilling to pay $4K without any clarification or justification. Therefore, what steps can we take to obtain the necessary information and resolve this issue before transitioning to a new management company?

We are willing to pay the mediator company for the renovation work if they provide us with an appropriate report detailing the work done. However, at present, they have only given us the cost without any specifics, which makes it difficult for us to justify the charges.

@Marcus Auerbach Thank you very much.

The cost of purchase was $97,000 and the total rent is $1650. Prior to the closing, a professional inspection was conducted. However, the mediator company responsible for the renovation did not provide us with a detailed report of what was actually fixed. Instead, they only gave us a report with an opening balance of $4200. What's odd is that obvious issues, such as a hole in the door, were not addressed. When we inquired about the renovations, the mediator company explained that the new tenant had requested additional work. We would like to obtain a detailed report of the first round of renovations so that we can compare it to the inspection we conducted.

We have requested details of the first renovation that the mediator company completed, but they have yet to send us the information despite more than a month passing. We are concerned about the charges they have applied to our account without providing explanations for the work completed, and we have not transferred money for the work - we only have a negative balance. In light of these concerns, what steps can we take to address this issue while also proceeding with our plan to switch to a different management company.
 

Hello everyone,

It's a pleasure to introduce myself to this community. My name is Bar and I'm a real estate investor. Firstly, I would like to express my gratitude for this great community that has given me confidence to invest in real estate in the USA.

I would like to consult with you about a situation I am currently facing. Two months ago, I purchased a Duplex in Milwaukee with the assistance of a professional and experienced individual. This person helped me to purchase the property and introduced me to his friend who runs a company that acts as a mediator between investors and property management companies (he takes a 3% fee from the rent and the actual property management company takes 7%).

The mediator's company carried out a "rent ready" renovation on one of the units for a total of $4000. However, a month later, I received an invoice from the management company (not the mediator) for another "rent ready" renovation on the same unit, which included repairing broken mirrors and holes in the doors. This has raised doubts in my mind about the quality of the renovation carried out by the mediator. If the mediator carried out a rent-ready renovation, how is it possible that they didn't fix the hole in the door?

I have been trying to get details about the first renovation from the mediator for over a month, but they have not provided me with any information. Furthermore, when I ask them for answers, they insist that I sign a contract that releases them from any liability.

In this situation, I would appreciate any help or advice on what to do next. Thank you all!