All Forum Posts by: Brittney Wright

I purchased my first duplex and have kept the tenants on MTM to see how they do. I just received the appraisal for 2024 and the assessed value will increase $28K, increasing my taxes $600 if the tax rate doesn't increase. I will not know what the tax rate is until December. Would you recommend increasing the rent now knowing the taxes for this year will be approximately $600 ($50/month or $25 per tenant/month). My taxes are paid through escrow so I will need to make sure I am whole when taxes are due come December of this year. How do you all handle annual increases to adjust for taxes and potential insurance hikes and would you have them sign a new MTM agreement or add an addendum? The property is in Milwaukee, WI. Thanks!

I am closing on a duplex today and I have two units that are MTM. I am going to put them on leases but am wondering if I need to run background or credit checks on them first. Do I need to request them to send me copies of their drivers license so I know exactly who they are? This is my first rental so just making sure I’m doing things right. I don’t plan to increase their rent at the moment and they have been there 8 and 10 years so long term tenants. Also, any recommendations on sites to get leases from? 

Has anyone used honeycomb insurance or familiar with them? What has been your experience 

Hi, @Jason Smith I just received a quote from HoneyComb for a duplex and they are much cheaper than other carriers. Did you end up going with them and how has it been?

I am closing on a duplex in two weeks and am looking for insurance provider recommendations. Thank you!

Hi, All-

I am trying to decide if I should go with a lower 7.375% interest rate and pay 1.65% in points (approx $3270) or go with a higher interest rate such at 7.62 or 7.75 and pay less points. Lenders are telling me the break even on the lower interest rates is anywhere between 3.5 - 4 years which they think is too long and that I should be able to refinance to a lower rate within 2 years. Thoughts? 

Thank you as this was very helpful and detailed. 

Yes and I have their contacts but looking for others as they aren’t the greatest 

I am purchasing a duplex in Milwaukee and would like recommendations on handymen, plumbers, electricians, lawn mowers, and general contractors. If you have recommendations on inexpensive property manager to handle just the maintenance, please let me know. I am out of state so trying to get my systems in place.

I understand that but my question was more about how do Out of State Taxes work from a process standpoint.