All Forum Posts by: Chad Nagel

Looks like you need to start your own post and possibly consult a real estate attorney as to the risk of each of the things you are discussing, Because they are 2 completely different things. I have done both LC and a mortgage on properties. 

IF they didn't not pay full amount on 5 day, file eviction or wait till 1st of may and give new 5 day then file.  The problem is most judgments your will get against a **** tenant you can use it for toilet paper as you will not see the money anyway

This is interesting, As you can see this is the owner of Bluefrog Property Manangement LLC as listed on Wdfi.org, reviewing his own company on google. It must be tough to give yourself a high five or to pat own self on the back. Another reviewer on google is the Fiance of the other owner, Troy Hecker. Unsure what building she bought thru Bluefrog as she is a renter in her business. Attached are the links to the reviews and the LLC docs.

Wdfi link

https://www.wdfi.org/apps/CorpSearch/Details.aspx?...

Nick review

https://goo.gl/maps/MUUMq1go5SR2

Jodi, (Troys future wife review) 

https://goo.gl/maps/ZdQKG59GfUm

200ft +/- on spider lake, 125 acre full rec lake, just south of iron river wi. 3.5 acres +/- of dense woods. The lot will need a boardwalk to access water and a path cut. $29,900. May consider a land contract with 10% down. Payments around $240/month. County fair market value $101,000. Own your lakefront paradise today.

Pics are here 

https://northernwi.craigslist.org/reo/6102102746.html

following for info.

This is who I used. $49/ year 

wisconsin registered agent in appleton. 

https://www.wisconsinregisteredagent.net

I use titan property management in the fox valley area of WI. They do not service milwaukee, but do service about an hour- 1.5 hr north of milwaukee.  If your investments reach that far north.

https://titan100.managebuilding.com/Resident/public/home

I ended up hiring Titan Property Management out of Oshkosh, WI.  They service almost the same area.  Titan took my mismanaged portfolio ( 70% occupied) of 40 units from a previous PM, to 95% occupied in just over 60 days from taking over.  I would definitely check this PM out, they know how to manage units, fill them up and gets rehabs done in a timely fashion.  

@Kevin Manz

A better plan is to hire a good PM early in the game to allow you to focus on purchasing more investments.  Back to my original plan, It does work if you are very hands on, enjoy dealing with c-d-f quality tenants.  You will get high margins outta the gate, but it will catch up to your on the backside on the high turnover and torn up units. If you only have a few units its easier to deal with a few "bad apples" but as you grow, your headache grows.

So the moral of this story, hire a good PM. Ask friends in the real estate biz for references. Don't use the PM references.  I'm on PM #2 as PM #1 managed my units worse than me and couldn't run a lemonade stand with a profitable margin.

I flipped homes full time thru the crash, while expanding my rental portfolio. I did my most expanding during the downturn, always filling up my units above market rents.  My units housed a C quality tenant on average. So NO, Its business as usual in my world no matter the status of the market.