All Forum Posts by: Brian Conne

Hi Dylan, they can be a little sparse. For sure, you have to be patient. You will also want to give some thought to your investment goals. There is a bit of competition in the area right now, so if you don't need immediate cash flow, you may have an advantage.

Brian

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Madison, Wisconsin

Hey Eric, looking in Madison, WI? If yes, PM me with more details. -Brian

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Madison, Wisconsin

Hi Zach,

Inventory is still very tight in the Madison area. Things seem to be moving even though we are getting out of peak season. There are no crystal balls. Some think the economy could hit some tough times post-election, which means you should get it sold. Others would tell you to wait for the spring market to heat up, which could mean a higher purchase price. If it were me and I didn't have a path to profit in the near future, I would unload it. Take your lumps and invest in something else that could deliver some returns.

Brian

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Welcome Joe! I'm a realtor and investor here in Madison. Let me know if I can be of any assistance.

Brian

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Anybody know of some good investment lenders in the Madison area? I am looking at 2-4 unit multis. Thanks in advance!

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Agreed that the high turnover in a college town can bring more showings. In my town there are a lot of high rises which compete directly with my wheel house of 2-4 units buildings. I prefer properties which are more desirable for grad students - less wear and tear and more fiscally responsible.

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I've used Larry Libman, also at Axley.

http://www.axley.com/attorney/larry-libman/

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Hi Jessica, would enjoy connecting. I am in Madison too. Thanks.

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Originally posted by @Paul Haviland:

Sorry - I accidentally "posted" before I was finished, and I didn't see where I could edit/update my post. To finish my above post...

Finding the "deal" I don't do anything special here, but just look at a lot. I find some of my properties on the MLS (typically they have some type of a problem that needs solving), however more often now they are not on the MLS and I find them through networking.

@Darren Budahn

Good Question - What I typically do is have my offer contingent upon the Seller providing a promissory note of $X (typically 10-15% of sales price) on another property I have. Obviously the Seller would want to know that they will have safe position (enough equity to cover the 2nd). The bank I have been working with doesn't mind. They asked some questions the first time, but I have a half dozen loans with them, and are OK with it now.

By utilizing this method, you have to buy the first one and create enough equity, but then you could repeat again and again and cut your down payments in half. Typing this out makes it seem very easy, but it can be a challenging discussion with the Sellers or their Realtor to make sure they feel comfortable and know their money is secure.

Hi Paul, I would love to know what lenders you are working with. I have had mixed results with the lenders I've worked with. Thanks!

Brian

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Madison, Wisconsin

Hey there. I am a newer investor in Madison as well. Sounds like your new 2 unit is doing well. Happy to meet up sometime.

Thanks,

Brian

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All Forum Posts by: Brian Conne

Brian Conne has started 1 posts and replied 30 times.

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