All Forum Posts by: Chad Nagel

Look at germantown mutual, just dont flip homes in your rental pool. They will deny you coverage after they find you turning policies in 1-3 months. Rates with GM are reasonable. Great northwest was the best deal I found but they pulled the WI policies years ago. Erie is decent but they are stuck in the 80s, no online billing, paper mail only. I am convinced they use an abacus and courier pigeon to figure/ deliver bills. AO is decent priced with online billing/ auto draft.

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Originally posted by @Jason Meyers:

@Bryan Caprioli I would be looking in the Fort Myers area, or within roughly a 30 mile radius of there!

Anything that is anywhere near a deal is going fast in that market. The brokers are prolly struggling to return emails as the market is HOT in SWFL.

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following

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People, Do any of you even own rentals in the OP state? People are chiming in from states half way across the county or a different country. Y'all realize there are different state laws the may change state to state. Wish I could help with the OP question, but I am unaware of landlord/ tenant law in CT.

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Personally I would the the same formula all the others use, cap rate. Seems to cover value on apartment building pretty decent. If you know your expenses and the internet will give you a cap rate range, grab your calculator and do some work !

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interested as well

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following...

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Where did you come up with the 6 month seasoning restriction? I use commercial notes thru local lenders and have never heard of that.

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Originally posted by @Corina Eufinger:

It's Wisconsin case law actually. A court case expounded on the defintion of habiltabilty to include new or freshly cleaned carpet as part of the landlord's initial responsibilty.

A tenant in Milwaukee was suing a landlord for a pre-exsting flea infestation prior to their move-in over 15 years ago now. During the hearing the landlord was asked if he had cleaned the carpets. He answered that he never cleaned the carpets prior to move-in beyond possibly vaccuming. In his ruling, the judge stated that to fufill the owner's due diligence of a habitable home a landlord is obligated clean carpets that are not new for every move-in. The case is so old, I doubt I would be able to find anything online. I was a volunteer with a local landlord organization when the ruling was made I think in 1999 or 2000.

So if it was something the state "wanted" to enforce it would have been added to the new versions of the wisconsin way, dont your agree??

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Originally posted by @Corina Eufinger:

Tenant cannot demand carpet replacement. You are required to clean it between tenants. You are only required to provide them with a habitable unit that has working water, heat and hot water.

Where does it say in the WI way you are required to clean carpets between tenants?

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All Forum Posts by: Chad Nagel

Chad Nagel has started 4 posts and replied 202 times.

Post: Investment Property Insurance

Post: No Response from Multi-Family Brokers?? What am I doing wrong?

Post: LLC and structuring business

Post: How much would you deduct from Security Deposit

Post: Determining ARV of an apartment building w/out comps

Post: 2% rent - Jacksonville SFH 3/1

Post: Apartment Complex Expenses?

Post: Looking to refinance before 6 months - Milwaukee, Wisconsin

Post: Carpet Statutes in Wisconsin

Post: Carpet Statutes in Wisconsin