All Forum Posts by: Corina Eufinger

Delevan is a market where you will have to look at surrounding markets like Janesville, Elkhorn, and Darien to get your comps and rent information.  I'd start with Darien and Elkhorn first.  I wouldn't use Lake Geneva because with its tourism its in a league of its own in that area. 

Using local hard money lenders usually works best. Ask around in your area with investors. If done right using a hard money lender can be a great way to propel your portfolio with BRRRs.  One of the biggest mistakes I see investors making is they forget to address things like HVAC, siding, etc when they have access to a hard money loan.

@Maxwell Servais  This hasn't been mentioned so I will add to the "dog pile" here.  The one tenant having given notice may be a bargaining point for you a little on price...or maybe more depending on the condition of the unit.  If it's a unit that you knew you would have to drop $10k or more into when the time came, you may want to ask your realtor (just assuming you have one) to do a re-negotation on price in light of this new info. 

I would say your best bets is a gym as a tenant amenity or a community room that tenants can rent for family functions, parties, etc.  Or I do like the suggestion above of a co-work meeting space, assuming it is a bigger urban area that would be a solid potential income stream.  If it's suburban, then the community room would be a good alternative to making it an amenity that brings in some cash to offset its expenses.  

I would caution against a playroom as just like a pool or outdoor playground that brings a higher risk liability with it. 

Some old school things that work....first make sure the place has blinds or curtains on every window.  Second, leave alternating lights on at night.  I've heard adding a few lamps on small tables helps as well.  Moving the lockbox to a less visible place like gas pipes, garage door, etc.  I've also known a few people who add  simple yard decorations or outdoor chairs to give the appearance of it being lived in.  

There's every reason to believe, assuming Microsoft executes unlike FoxConn, what you speak will happen. To what degree is a wild card.  Racine has some strong issues that will take time to clean up even if Microsoft is a positive influence.  Racine is entrenched with some lower socio-economic issues.  Racine would likely be a better "sell high" plan since those property values on average are 20% below Kenosh at the moment. Feel free to DM me. 

Who can I talk to to figure out why my status was reduced from Pro? 

@Mitch Tauer I'm a PM and real estate broker that services the area.  DM If you would like. 

@Mohan Deep

Whether or not it terminates by inactivity is based on the terms included in your lease.  It would mention somewhere an "automatic termination" or "automatic renewal" clause. I haven't used WI Legal Blank leases in quite a while but I know it's covered somewhere on there. IF the lease doesn't include language for automatic renewal, then it would default to being automatically terminated if neither party takes action.  Review your lease carefully!!! Then be sure the tenant understands the lease as well.  If you aren't clear on it, I would bet they have no idea either. 

@Alexander P.

To exit your Illinois properties you will want to consider a 1031 exchange maybe.  If you declare a property as 1031 eligible you can defer capital gains on the sale.  It's less daunting than many people's visions of it.  In Wisconsin, we have a couple of good markets for you allowing you to diversify your capital across different markets if that's your preference.  I'll send you a PM so we chat more. :)