All Forum Posts by: Brian Nangle

As the topic suggests, i am looking for recommendations for agents to work with in the southern wisconsin/milwaukee area.  I am from Wisconsin and plan on moving back in a few years and want to get ahead of things in the real estate market back there.

If the property did not meet my criteria for cash flow after expenses per door with management in place then i would not do it.  So when you say small but still positive cash flow with a manager where are your expenses at, what happens if you under estimated them and you have to move away for work.  Now you have a property that is breaking even because you may have underestimated expenses and are forces to use a manager.  I don't know your numbers so take this opinion for what it's worth.

I am just confused about why somebody would drop off their cat at one of their properties while they went away for vacation, without coordinating with the tenant?

Does your definition of maintenance include capital expenditures?

Greg Horn,

As a newbie investor myself i love what you are saying.  I am new to this game but not new to business in general and performance based pay systems are a thing of beauty if you ask me.  I think some very smart experienced investors and managers here have given you some great advice but i would argue that you might be able to make it work.  If your plans are to try and pitch this to a PM you want to work with good luck.  But if you wanted to start your own management company and try some of this stuff out you could be on to something.  Either way thinking outside the box is always a good thing and i love the idea, this is exactly the type of thing i would try and think up if i was to start a PM company tomorrow. 

Thanks for the warm welcome guys, i am already seeing the huge benefit of being a member here as well as listening to the podcasts.  What a great platform to begin your real estate journey from.

I think the initial problem was a pest problem if i am not mistaken.  Dropping off your cat to take care of vermin seems like a terrible way to handle a pest problem.  Not sure about the legal ability of a tenant to withhold rent in California but based on some info in your post, if your going to be unreachable for weeks while traveling i would think you should have left some contact information for someone with the ability to resolve problems for your tenant.  

Well i don't have much experience in the real estate world but as of January 1st of 2016 my previous home in Alamogordo NM is rented out on a 3 year lease and is cash flow positive. I bought the property in 2013 as a new build with no money down through the VA loan process and am happy to be renting it and be positive cash flow even if it is only 200 a month positive after property management. I figure it will give me a nice soft intro to the rental business until i buy my first multi family home next year in Milwaukee WI.

Amount financed = 253,000

Mortgage/Property Taxes/Insurance = 1300/month

3 year lease at 1600/month

Property management = 100/month

My plan is to be exclusively in multi-family so my plan for this property is to unload it at the end of this first lease in 3 years and use any money i make to roll into my investment capital for new properties in the Milwaukee area.

Ok so to start i do not live in Madison Wisconsin but plan on moving there in about a year and a half.  I am originally from southwest Wisconsin and grew up in Madison and then a few small farming towns.  I joined the USAF out of high school and have been stationed in TX, NV, NM then NM again before i separated from the military.  I currently live in Clovis NM and work as a DOD contractor where i deploy to the middle east 6 months every year but then have about 5 months of time off as a result.  I have one single family rental in Alamogordo NM.  I plan on spending the next 5-10 years investing in the Southeastern part of Wisconsin (Madison,Milwaukee and everything in between)  in multi-family rentals and plan to be a life long buy and hold investor.  I do not plan on quitting my job but my short term goal is to have that option through real estate 10 years from now.