All Forum Posts by: Enrique Roth

Seeking Project Manager/Inspector for Real Estate Rehab Projects in Milwaukee Area – $75 Per Inspection

Are you experienced in real estate rehabs or construction management? Do you have an eye for detail and a passion for ensuring quality work? We're looking for a reliable Project Manager/Inspector to help us oversee our rehab projects and ensure they meet our standards of excellence.

What You'll Do:

• Visit properties during the rehab process to review work progress.
• Ensure each phase is completed properly and according to plan.
• Conduct quality checks to verify work meets inspection standards.
• Document findings with photos and detailed notes.
• Highlight and report missing, incorrect, or incomplete items that need fixing.

Requirements:

• Experience in real estate rehabs, construction, or property inspections.
• Strong attention to detail and ability to identify issues.
• Access to reliable transportation to visit properties.
• Ability to take clear photos and document findings in a professional manner.

Why Join Us?

• Flexible Work: Not more than 1 hour per inspection.
• Competitive Pay: Earn $75 per inspection (3-5 inspections per project).
• Consistent Work: We handle 2-3 monthly projects and are looking to grow, offering steady opportunities.
• Impactful Role: Play a critical part in ensuring our properties are rehabbed to high standards.

Interested? Apply Now!

Fill out our form with your contact details and experience. We'll reach out with next steps if you’re a fit!

We look forward to working with you!

There are probably many posts that contain similar information to this one, but I thought it would be of value to future and existing investors who are starting their journey.

We recently completed rehabbing a duplex we bought for $93k and rehabbed for $75k (in retrospect, we could've negotiated a lower price 🤷‍♂️ - discussion for a different post), hitting an ARV of $190k when our target ARV was $170k.

Two things that stood out for me that helped us secure a higher ARV that anyone can use in their next BRRRR were:

1) Fix the property to be in the top 75th percentile -> To improve our success rate, we consulted with both our agent and our PMC on what kind of materials and finishes the best properties (highest ARV Comps and Rent Rates) had in the area. This gave us a clear idea of all the details we needed to know in terms of paint color, floor, and other key fixes such as windows, doors, and cabinets. By using our agent and PMC as a resource we delivered a product that stands at the top of the market in the area, thus helping us secure our target rents and attract the best tenants for that area.

2) Leveraging the Comps -> Using the comps report our agent sent us as a reference for the appraisal. Luckily, I spoke to my mentor before the appraisal, and told me "you know that you need to send the comps to the appraiser, right?" - it never crossed my mind, but I'm glad I learned that through success and not by missing the opportunity. Anyways, the appraiser used two of the properties that were within the comps report (the higher ones) and we managed to overperform our ARV target by $20k.

Lesson Learned -> Later we realized that the appraiser also looked at the rental comps, and the average rent used in the income approach was $2,000...we are renting both units for $2,600 and the average rent in general for this kind of duplex in the area is $2,100 - $2,200, so we could've easily hit a higher ARV, crazy right?

"Get to the Point, what's your CoC return?"
So all in all, we will be hitting a CoC of ~15% despite overpaying in the purchase and not getting a higher ARV through the income approach.

Hope this helps! 💪 

Thank you everyone - this is great advice! 

In short, we shouldn't expect much increase in ARV but an additional 1/2 btr can go a long way in increasing demand, appeal, and attracting better tenants while lowering turnover.

If our budget allows it, we'll add it to the property 💪

So we wouldn't be losing any space by adding this extra 1/2 btr, on the contrary, it's pretty much a "dead space" and the tenants sleeping upstairs wouldn't need to go downstairs in the middle of the night or every morning - definitely more convenient

 Thanks Derrick! 

We still haven't gotten the exact quote from our contractor, but we were looking for at least a 3x-5x ROI in ARV added value, and at least an extra $150-$200 a month in rent.

As it stands, with the finishes we plan on adding we can rent it for anywhere between $1400 - $1500

Hi everyone,

We're about to begin the rehab work in one of the properties we purchased in Old North Milwaukee. Our contractor mentioned that there's a possibility of adding an extra 1/2 a bathroom to the upstairs floor, turning the property into a 3br 1.5btr.

When we asked our agent his thoughts, he mentioned this wouldn't increase the ARV of the property much as we're already maximizing the ARV in the area.

Would love to hear from fellow investors in the area what your thoughts are here, not only from an ARV perspective but also by how much could it potentially increase the rent value.

Thank you so much! 

 Thank you Ed! 

 Thank you Rebecca! 

 Hey Marcus! 

I also only found 5, would the major player be Porch Light? What about the really bad ones, who are those? You can send it as a DM as well if you feel more comfortable not sharing it as a post comment

Thanks!

 Thank you Melanie! You're the second person who has recommended this site, I'll definitely take a look there.