All Forum Posts by: Chad Nagel

Was current owner trying to "break " tenants current lease or was the tenant out of lease and on a M2M? If so WI only requires a 28 notice to vacate. If tenant does not vacate in 28 days, normal eviction procedure to follow. You can not have sheriff forcefully remove with out an eviction, Unless they are squatters. 

If tenants are still under lease, you will need to buy them out or honor lease. Education is key in this biz. Its great that you have a timeline, but you have bigger problems ahead before the rehab. 

Hey man, reach out to me. I started buying rentals at age 20. Currently age 36 with 44 units in FDL. WI. I am familiar with all your areas. Born and raised in just north of west bend. You are overthinking this game and your purchase numbers are way too high.

@Jason Bott Can you help this guy ? 

Are you doing an ACV or replacement value on the insurance? $1500/ year for ins in WI is crazy. If you need a guy, I have a decent one. He understands rentals and is on BP as well. I have ACV 110k, 5k deductible, @ $427/ year. Granted those rates may have gone up a lil, but not to $1500. You need to decide what your plan is, if you have a major loss. Do you wanna rebuild or just pay off note and walk away..... 

I have flipped in highlands county. Actually in Lake placid. Be Careful on the quality of work,  I have seen many different levels of "acceptable" work in the area. 

following....

PM sent.

do not sign paperwork till you have everything you need. Don't forget to think ahead and have all tax documents ready as well. Once you have that then you're able to sign. I also signed a sheet in regards to no negative reviews or future lawsuits.

I had a horrible PM recently as well. I chose to negotiate the losses out and run as fast as I could. In a lawsuit situation the only people to make any money are the attorneys. 

Welcome to FDL. Watch your numbers and areas. We are approaching a very top heavy market. Lmk if you need any help analysing deals in the area. I've done a few in that market.