All Forum Posts by: Charles Clark

I will be attending the BPCON 2024. Everything is booked, but was hoping to connecting with some individuals before the conference. It is nice to start conversating with people before we get down there so we can make the most of our time. I am a broker in WI and looking to find OOS Investors looking to invest in the Milwaukee, Racine, and Kenosha area. I will be down in Mexico a couple days before so if you would like the opportunity to meet, hit me up. 

Raise the Standard Real Estate LLC

Charles Anthony

Bom dia Michelle,

First, I want to thank you for investing in our city. Secondly, I appreciate you investing in 53206. Even though it has a reputation for being a rough neighborhood, we need investors like you to take a risk for a high reward.

I work with OOS investors to assist them with managing their investments at a distance, and I have a few contacts to assist you on your PM search. Please contact me if you would like to talk.

Beleza
 

Teams Built to Dominate” by Rod Santomassimo, CCIM is a good book, because real estate is a team sport. This exceptional book goes beyond the mere task of assembling a group of exceptional individuals; it delves into the realm of effective leadership. Consider it your ultimate guide to being successful in commercial real estate if you aspire to discover unconventional methods to cater to your clients and expand your enterprise.

Truly worthwhile business publications should possess the power to inspire, challenge, and enlighten readers on how to elevate their own performance. And this book achieves all of that, while also presenting invaluable opportunities to implement its teachings into your business.

For Property Investors, the Price of Homes Is Still Not Right by Will Parker in the Wall Street Journal stated, "...Realtor.com said 2023 was on track for the largest annual drop in investor buying activity in at least 20 years...". The article went on to share results about how small investors plan on purchasing the same amount or fewer properties in the new year than they did last year. 

With this article's national view point of the real estate market, but I am curious if that is the case in a local market like Milwaukee, WI or any other mid-west city. Are investors buying less or buying different? As an investor, I would think you would change your strategy when the market changes to adapt to the environment you find yourself in. 

I thought it was a good article to read to get a better understanding of how the real estate looks from a different view point when investing in real estate. Let me know what you think of the article or your opinion of the current local real estate market. 

Beleza

Can A Landlord Charge an Application Fee To A Prospective Tenant In Wisconsin? 

Posted by Tristan R. Pettit, Esq. in Rental Applications, Application Fees

The article starts off with a story of a lawyer getting a call from his client to discuss the property management company he uses for his properties. The client wants to talk about how his PM company charges over the credit and background check costs that incurred by doing the checks. According to the article, the application fee must either be returned to the tenant or applied to the tenant's rent or security deposit.  

I was shocked to learn this. Will this effect how you screen tenants in the state of Wisconsin? 

Bom dia Brian, I hope all is well with you. 

Milwaukee is like most major cities. It has markets within markets. Having a solid team on the ground will ensure that your properties cash flow. Finding an agent or lender is a good start because they can point you in the right direction for the rest of your team. With so many contractor apps now a days it is a little bit easier to find them if a problem arises. Also, using PM apps has been a game changer for me. I currently use DoorLoop to manage the 34 units around the surrounding area of Milwaukee. The app allows my tenants to put in maintenance requests with pictures and notes. This gives me the option to see if I need to hire a handyman or a specialist to fix the issue. More importantly with the app, I am able to collect rent online. Allowing my tenants to pay by ACH, debit card or credit card from their phone has saved me time, effort, and money. I no longer chase down tenants for rent. Less than 5% of my tenants pay by check and those get mailed to me. Managing from a distance has become easier due to technology because you have the ability to connect with your tenants, contractors, realtors, lenders, insurance agents, and any one else you need to manage your rental units. I manage my entire portfolio from my phone. You could not do this 10 years ago. 

If there's anything I can assist you with, please do not hesitate to contact me.

Beleza,

Charles Anthony

Bom dia, I hope all is well with you. Being in the Milwaukee market, I can share as someone currently investing here it is a good place to start. I purchase my first investment in 2019 by buying a four unit using a FHA loan. Since then my fiancé and I have scaled to 15 units in 3 years. We are house hacking a duplex and own a 8 unit and 5 unit buildings.

The first step would be to reach out to either a real estate agent, property manager, and/or lender. The key to being a successful OOS investor is having boots on the ground and trusting someone to manage your affairs. Getting approved is the next step. Knowing what you can afford will make the process easier for the agent to find you a property. Third step is know your criteria for what is a good investment for you. Are you looking for $200/door or 15% COC ROI? Be able to explain to your team what is a good investment in your eyes so they can run the numbers on properties before they send them your way. Streamline and scale is my motto.

If there's anything I can assist you with, please do not hesitate to contact me. 

Beleza,

Charles Anthony
  

Bom dia, I hope all is well with you. As I tell my client, if you know your goal is to get more, then maximize the units you can get each loan you are approve for. With my first purchase I was only looking at duplexes and planning on buying another duplex right away. After realizing that I could purchase a four unit with my residential loan, I started analyzing quads from that moment on and it was the best decision. One loan can either get you 2 doors or 4 doors. 

However, I do want to share that my fiancé started investing with me at the same time and did not want to buy a four unit but knew buying a multi fam was important. So we are house hacking a duplex because it was better for us from a living situation. With that being said, go for the quad unless your living situation dictates otherwise. As @Marcus Auerbach stated, the worst house hack is better than buying a SF liability. 

Feel free to contact me if you have any other questions. 

Beleza  

Bom dia @Eitan David,

I hope all is well with you. Please contact me, depending on the job I have a handyman and multiple contractors I can assist you with your properties. 

If there's anything I can assist you with, please do not hesitate to contact me.

Beleza,

Charles Anthony

Is the juice worth the squeeze? Every property has a price that makes it a good deal. If the foundation work came up during inspection then I would ask for a reduce price. At a reduce price, this property might be worth the squeeze, if you know what I mean. Maybe $135k to $145k would make this a good deal and give you more equity to refi after renovations. 

I hope this helps you on your journey. If there's anything I can assist you with, please do not hesitate to contact me.

Beleza,

Charles Anthony