All Forum Posts by: Edgar Perez

@Rick Albert 

Thanks Rick that is a good point they were MLS properties, my point about the REIA was more so to bring the property in front of the Agents in the group that work with traditional buyers that maybe haven't had luck finding homes on MLS either due to budget or competition

Thanks everyone by no means am I opposed to paying 0 in closing or buyer agent fee's and this thread helped provide clarity on what to expect. My thought process with going FSBO is my market research tells me my condo is in high demand as it is the lowest cost to home ownership (starter homes are going 250K+ condo will be 140ish) and in the last 6months 3 similar have sold going contingent in less than 2 weeks. I am also involved with two local REIAs and thought I could market to them and the agents their to bring their buyers

I am considering putting my personal residence condo up for sale and am curious how the recent agent commission change in process impacts sellers in for sale by owners.  My understanding is previously the norm was sellers were still “expected” to pay buyers agent commission but now that the norm could be shifting is that still part of the buyer/seller negotiation?  How are we seeing this rule change play out in practice?

Tags: Kenosha Wisconsin fsbo agent realtor 

Is there a rule about how many live in flips you can sell and it’s correlation with tax years?

I lived in a property from 2020-2022 and is now a rental if I sell in year 2024 or 2025 I will meet the lived in 2/5 years for tax free gains

I’ve lived in my current home since 2022 and will be eligible for the two year rule in 2024. Now I assume I wouldn’t be able to sell both in the same year but will I still be able to take advantage of both tax free gains if I sell in consecutive years '24 and '25?

 Allen same to you: At 15% for MTR do you have a leasing/placement fee? What is common in your area for LTR fixed amount or percentage of first month rent? And then what do you do for MidTerm

@Chris Varsek

I want to make sure I’m not mis- speaking, the lot is owned out right and we are essentially wanting to transfer ownership, calling a Kenosha title agency would still be my route?

Hello, I am looking for step by step guidance in South East Wisconsin to help me with transferring title from my Grandpa's vacant lot to my name in Kenosha Wisconsin.  I have found videos online about how to fill out a quick claim deed but they are very general and I would like help with my specific property details.  Is there an agent or attorney in my area able to help or even someone with direct experience with this sort of thing?

Thank you

thank you to those who have replied, I am thankful for the recommendations.  I will edit my original post for clarity, because there is some feedback that is not aligned with what I am looking for.  As far as mindset I am comfortable with this strategy; the strategy I am pursuing is rent by the room, I mean specifically listing on Airbnb a single room for rent rather than the entire place.  I am not looking to rent the room long term to friends or family and my target audience would be solo travelers visiting the area for business or personal reasons.  

I am having difficulty finding useful information or tips and tricks for this specific strategy, such as what amenities to provide, what is essential to have in the room, things to consider in the shared space like kitchen and living room even though only a guest room is being rented.  Thank you to those that have already commented and thank you to future contributors.

Hello BP,

I read through Avery Carl's book and I've looked for other resources but many of them are more focused on general STR or vacation rentals; are there resources available for STRs specifically focused on rent by the room approach or even more specific House hacking and STR? I have 2 extra bedrooms in a suburban setting I would like to rent out and any resources or info will be helpful. I am located between Milwaukee and Chicago, my town also has some local attractions that bring many visitors through the summer.

Milwaukee Racine Kenosha Wisconsin