All Forum Posts by: David Butler

Hi Adam.  I, too, am in the Lake Geneva area.  I have some rentals on the side that is all my wife and I but have a business partner that I have been working with for about 4 years.  My partner is more of the knowledge side--he is a jack of all trades and I bring the money and grunt work while we split the profits of our flips.  This is a nights and weekends job for me and Kevin and I have flipped 10 houses in the last 4 years with 2 more under contract to sell and we are closing on another next week.  The key is communication--you have to agree on a vision and communicate, communicate some more.  If you think you have over communicated, you haven't!  Partners are great, but they need to fill a need that you have that you cannot fill yourself and vice versa.  I don't have the framing, electric and plumbing knowledge and that is what Kevin brings while he does not have the money which is what I bring.  We hold each other accountable and are friends outside of the business.  Your partner has to be someone you like or going to work will be miserable.

I live right outside of Lake Geneva and love Walworth County for investments whether it be for rentals, flips and I am building my first spec home from scratch.  Property values have increased greatly with the fleeing of so many from IL.  Appreciation is great, but that means that there are fewer properties for flips--hence the new build.  Rents have started to catch up to home values in the past 2-3 years.  I purchased my first rental home about 6 years ago but quit buying rentals as the rents were not keeping up with appreciation and increasing purchase pricing--I couldn't find 1% properties any longer.  Now that has changed the past couple of years and I purchased two rentals in the past year.  I stick very close to home so I am in the Genoa City, Lake Geneva, Lyons, Linn and I do sneak into Twin Lakes which is Kenosha County.  I don't go any further into Kenosha County because I don't know the area as well and I like to drive by my places.  If I can help you in any way, let me know.

Congratulations on your success and the successes of others that you have worked with.  Your story is just another example that we are indeed a community and not just in it for ourselves.  Help enough people and you will never have to worry about where your next deal will come from.  

Well done!  I love the before and after pictures.  Be proud of your accomplishments--you have transformed a home.  Congratulations!