All Forum Posts by: David Venancio

I use Matt's Team for one property in Milwaukee and they have been excellent...Unfortunately I am buying two more properties in the 53206 area code and they have decided to avoid this area...with that said we are looking for recommendations for PM's also that will work here.

Hello All,

I am buying two duplex's in Milwaukee one on Burleigh St and one on Wright St. My current property manager was decided to stop managing in the 53206 area code...Looking for any recommendations for PM's who operate in this area. Both Properties are in great condition.

Thanks,

David

Thanks Greg, that is exactly what I was thinking and wondering if someone else had done it and what their experience was? At the end of the day, it would seem that any cost savings would be lost trading one transaction into 4 transactions (FEES) - at least in the "near" term.

I don't understand why they wouldn't qualify - condo's in highrises with 100's of units do?

Thanks in advance for taking the time to look at my question!

Last year a partner an I bought a 4 unit property in MN. We got a local bank to finance it with 30% down and a 20-year note. My partner is the "money guy" and I am the "sweat equity" guy. The property is 3 residential units and 1 commercial units- hence the commercial loan terms. With that said our deal was: we would buy the property increase value (we have been able to increase rents and the commercial space wasn't rented at the time, we are about to rent that out) and then refinance, the thought was we could get the initial cash out after increasing the value of the property and repeat (sound familiar) - after which we would be 50/50 partners on the property.

To my question - since this is a commercial property, would it make sense and is there value in converting this to a condo, where we could get more favorable terms on the residential units (30-year mortgages and 20% DP) versus the terms we have right now?

welcome

I came across what looks like a really good deal $28,000 cash deal right on the boarder of Riverwest.....houses across street selling for~$80-$90k. I don't have the cash needed for the deal but would love to be involved in someway if anyone interested in learning more. The house needs a roof and kitchen, paint - beautiful woodwork throughout.

@Bob E. Good Point!

bank just came back asking if I'm still interested, if so how much of a price reduction I was looking for, planning to walk away.....I wanted to keep as much of my cash as possible on my first deal, there seems to be a lot of available properties in Milwaukee that this one isn't worth the hassle now.

Thanks for all the comments.