All Forum Posts by: Casey Kooiman

I was close to putting an offer on a property, but I just came across a Foundation Inspection Report. It is directed towards a bank, so I'm wondering 1) why it was required by a bank in the first place?

Anyways, these are the results: "The basement was dry, signs of previous water seepage along north wall, and there was no sump crock or pump. Homes of that era typically had draintiles below the floor that pitched towards the basement floor drain and drained through a Palmer Valve. It is possible the Palmer Valve is stuck or corroded in the shut position. If this is the case, water backs up when in the draintiles and it will produce water seepage along the walls where the floor meets the wall."

Some Future Maintenance / Prevention methods were included (but none of them listed fixing the Palmer Valve or installing a Sump Pump). Can this still be done? What kind of estimated costs am I looking at?

Any advice would be greatly appreciated, my BP family!

@Dawn Anastasi Thank you soooo much! Just found it!

@Steve Vaughan - will definitely google that! Really good information here; much appreciated! What is a good way to ensure it is priced correctly? Not many duplexes have sold recently in the immediate area (a few single families here and there), and well the assessment is 15k under the negotiated sell price. Solid rental income with a Cap Rate of 10% though, which is what I've been going off of...

@Jeff B. Thanks for the input! The property was off-market. I thought I may have more negotiating power if the Seller didn't have to pay any agents. I could get an agent involved though if it is suggested...? This will be my third property transaction so I am somewhat familiar with the offer documents but of course worried I will miss something. 

Hi everyone! I'm doing my first deal without the help of a Real Estate Agent. Can someone explain the process. I am the buyer and the deal is in Milwaukee. For example - where can I get a proper offer document? Do I need a lawyer? What does the seller handle & how can I ensure I am protected? 

Excited for units 4&5!

I've heard from a number of people that Tri-city is good. Haven't used them personally though. 

I have a few units around Milwaukee but recently came across an off-market duplex in this neighborhood:

Johnson's Woods neighborhood in Milwaukee

Unfortunately it is one of the areas I really don't know anything about. I'm looking to buy and hold and hopefully keep some good tenants in there. Anyone know this area and have any advice?

I'm about a 4 hour drive now. I would avoid West Allis (others might have different opinions). Don't know as much about Northside.