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All Forum Posts by: Brett Kash

Brett Kash has started 6 posts and replied 148 times.

Post: How Many RE Investors are Engineers?

Brett KashPosted
  • Flipper/Rehabber
  • Milwaukee, WI
  • Posts 153
  • Votes 84

@Adam Zach engineer here as well!

Post: is it better to buy a 2or 3 family unit ?

Brett KashPosted
  • Flipper/Rehabber
  • Milwaukee, WI
  • Posts 153
  • Votes 84

@Mathew Fuentes obviously deal dependent but the more units under one roof the better IMO

Post: Greetings from Milwaukee!!

Brett KashPosted
  • Flipper/Rehabber
  • Milwaukee, WI
  • Posts 153
  • Votes 84

@Miles Fabishak welcome miles! Sounds like you've got a solid goal this year! I started the same way by house hacking a duplex on an FHA loan that I still live in. Good luck in your search! I'll echo Rebecca's comments and recommend you get involved in Brew City REI (search Facebook) and the Milwaukee REIA which will get you exposure to many talented investors!

Post: 15K Duplex with 2K in gross income in Milwaukee

Brett KashPosted
  • Flipper/Rehabber
  • Milwaukee, WI
  • Posts 153
  • Votes 84

@Nathan Belete the link you posted is in what I would consider a near D neighborhood. You can make money with rentals in that area but it’s high turnover and you will have a lot of tenant issues more than likely. Anything west of Holton will be a similar story. I live about 12 blocks from this house (4 blocks east of Holton). Unless you have a boots on the ground property manager with experience in neighborhoods like this and a trusted GC for the remodel you won’t likely be successful. If I were you I’d try to stay in more of the B to C+ Neighborhoods as an out of state investor.

Post: Fences and dogs and regulations, oh my!

Brett KashPosted
  • Flipper/Rehabber
  • Milwaukee, WI
  • Posts 153
  • Votes 84

@Tiffany Drahonovsky also not an attorney but I would agree with Marcus. You’re property is code compliant and meet DNS regulations so I think it would be a long attorney battle between the tenants before you could get pulled in somehow.

Post: Where to invest in NW Milwaukee under 50K?

Brett KashPosted
  • Flipper/Rehabber
  • Milwaukee, WI
  • Posts 153
  • Votes 84

I would agree with @Marcus Auerbach. Unless you know what you're getting into and have some boots on the ground don't go trying to scoop up the cheap property that looks good on paper. Most of these are going to be difficult neighborhoods with high turnover and troublesome tenants. Not to say it can't be done, but not worth the headache and risk in my mind. Especially true I think if you're out of state.

Post: Tenants trying to claim COVID reasons for not paying

Brett KashPosted
  • Flipper/Rehabber
  • Milwaukee, WI
  • Posts 153
  • Votes 84

My two cents. At the end of the day no matter what happens, rent is owed on the due date. I completely believe in working with people when absolutely necessary but ultimately the rent is due when it is due, despite what is happening in the economy. This may sound harsh, but people getting sick and/or losing their jobs is just not our problem as landlords. I feel really bad for people in tough situations but to your point, we still have bills and rent forgiveness is a slippery slope. When do you stop? Where is the line? I think getting anywhere near this exposes you to potentially discrimination lawsuits down the road if the tenants are talking and find out they're being treated differently. Truly impossible to treat everyone equal when you start doing this.

I have been fortunate enough to receive all rent in April and expect to receive May as well but most of my tenants know that I expect rent on time. If its late, there's a late fee that won't be forgiven. My stated policy is, I don't chase people for rent, you don't pay, you're gone. In this scenario I would work with people the best I can through the end of this hold on evictions and then if they are not getting their act together they will get the pay or quit (if not sooner). 

Post: What was your first purchase?

Brett KashPosted
  • Flipper/Rehabber
  • Milwaukee, WI
  • Posts 153
  • Votes 84

My first purchase was a house hack Duplex in Milwaukee, WI in 2017. I bought the property with a 3.5% down FHA loan and I still own and live in it today. I am actually finally looking to refi out of the FHA loan soon.

One thing I wish I knew is how much certain rehab items should cost. I think I over paid for a few things in the remodel I did right when I bought the place. At the end I had a great product that appraised last fall for $40K over what I bought it for so really good investment so far. Spend the extra time to figure out what remodel items should cost if you're not familiar. Post on BP or other REI groups and ask for feedback on what different things should cost and get suggestions. Google can probably get you a long way. Buy economy grade products that will hold up well. I don't advise buying "cheap" stuff because you will pay the price down the road for replacement. The 4 family I just bought was maintained as cheaply as possible for many years and it show (which is why I got a great deal though). Now I am going through and fixing things "the right way".

Best of luck!

Post: newbie investing question moving pretty fast covid worrys

Brett KashPosted
  • Flipper/Rehabber
  • Milwaukee, WI
  • Posts 153
  • Votes 84

Great story! I personally would consider waiting out this COVID-19 thing for a month or so before buying just to get a feel for where things are going with the economy. That said, you might be able to save some money by buying now but it probably comes with some degree of risk, although it may be smaller than the news would have you think. At a minimum, keep saving like you've been doing and build your cash reserves which will allow you to move on more and more deals in the next few years starting to "snowball" that money. 

Post: Trash fines from property

Brett KashPosted
  • Flipper/Rehabber
  • Milwaukee, WI
  • Posts 153
  • Votes 84

Response looks appropriate to me! Echoing some of the other comments, the PM should take responsibility for the situation and make it their problem not yours. That said, get it paid and work it out with your PM. Like you said, not a big deal in theory but this is a sign of a bigger problem if they resist and I also would recommend getting a new PM.