All Forum Posts by: Brett Kash

@Erin Garcia I invest in the Milwaukee area and there are plenty of opportunities up here. If you aren’t familiar with the area I would suggest spending a day just driving around the neighborhoods, preferably with someone who is local, who can explain the different areas. Beware of the $10k houses you see online because they are in the roughest neighborhoods and would probably be difficult to manage from a distance without a rock solid property manager. Definitely opportunities up here just need to

Know where to buy.

@Chari Nash-Cannaday I am working on a project that’s the exact opposite now. It was a duplex converted to single family and was never updated with the city. You essentially have to fill out some paperwork, get it inspected, and pay a fee based on the amount spent to convert it. Best bet is to go down to city hall and talk to them and get your questions answered on what you need to do. You can also call the plan examiner and they are very helpful if you are pleasant with them. PM me and I can send you the contact info (BP won’t let me post it here)

@Jack Medford interesting info Jack! I love looking at numbers like this so it’s right up my alley. Nothing too surprising here but nice to see numbers that back what we already believed. It’s interesting how hood January still is for sales. I still thought of this as a bad time to list but your numbers indicate otherwise!

@Amaury Reynoso congratulations! Hope this property works out well for you!

@Joe Villeneuve Great comment. The best deals are truly the ones only you know about. That’s where your relationships are key in my opinion. Become someone who is trustworthy that can be relied upon and people will gravitate toward you. There are a lot of folks in this industry that don’t meet that criteria.

@Kristi Wolfe All properties work at the right price. As an investor, you are never going to be able to pay the same as a family looking for a home when looking at a single family for example. You need to find deals that only investors want and offer whatever works for you and your numbers. You’ll get a lot of no’s before you get a yes. I’m fairly new to investing in the past few years myself and am sure that the best deals are going to the seasoned investors with a track record of closing and a lot of relationships. I know I’ve had to be more aggressive on my offers to even get a foot in the door. TBH I’m sure I’ve overpaid for both my flips. That being said, I’ve gotten a ton of experience and developed more connections so the next one costs less. Overall, offer what you can offer to turn a profit, constantly refine your analysis, seek advice, and make offers!

@Robert Damato I'll agree with Jacob a bit. My advice would be to keep doing what you're doing and grind away but also focus on networking to find deals. Get on the wholesaler lists, go to the REIA and other REI meetup groups and get connecting with investors. Tell everyone and their brother precisely what you're looking for so your the first person anyone thinks of when they have a property that meets your criteria.

@David Jiang Beware that there are a lot of properties that look good on paper but are in bad neighborhoods. A solid property manager will be key to steer you away from those areas (or too them if that’s your gig I guess). Personally I’m not seeing a ton of 2% deals out there in decent neighborhoods right now. 1% is good IMO. Anything over that is great. Good luck David! Feel free to PM me with any other questions!

@Benjamin Mann like many people here I pay water and tenants pay their utilities. I include an allowance for water when determining their rent.

@Brian Martin Welcome to BP! Milwaukee REIA is a great place to meet other investors and sometimes even find a deal (I bought my last property from someone I met there). I was there last night too! Best advice is to start accumulating knowledge and then take ACTION. Action is what separates people who talk about real estate investing and those who are real estate investors. You can learn as much as you want but at some point you've got to pull the trigger. I would set a goal to analyze a certain number of deals each week and make offers on any that meet a certain criteria. Write it down so you hold yourself accountable.

I'll second @Rebecca Knox ‘a post above about the Brew City REI Group. Another awesome group with a lot of value to add. Highly recommend attending as many events as your can.

I’m only a few years into this journey so I’m not that far removed from you. Feel free to PM with any questions. Good luck!