All Forum Posts by: Brendan Baier

Yes, according to the current property owners, they make cash payments and judging by what we saw inside some of the units I understand why they pay cash...

We are set to close on a 4-plex end of January that is currently rented but WELL under market value (only $350/unit). We are needing to make some extensive updates (electric, bathroom/kitchen remodel, drywall, paint, etc) in order to increase the ARV and be able to pull our capital back out. I am worried renovations would prove difficult with current tenants. My question is would you recommend evicting the current tenants or trying to work with them living there?

 I know evictions can but tricky with eviction moratoriums but in WI I believe they have to prove they cannot make payment due to related COVID issues.  We are also going to be increasing the rent once the rehab is completed.  All leases are month to month.  What have people done in the past when needing to rehab an occupied property?  

While networking with other real estate investors, we came across someone who is looking to sell their rentals off market. All of these rentals are pretty much turnkey and require very little work as they were already rehabbed.  We are in the process of closing on 2 of the 12 properties he has offered us, which is great, but now we are short on capital for down payments on the remaining units until we either do a wrap around loan on these 2 properties after closing or refinance.  My question is this: with little capital now, what are some ideas or strategies we could use to start purchasing the remaining properties he is willing to sell to us? Our projected purchases are under market value and we are wanting to move on the remaining properties to capitalize on this opportunity. Thanks!