All Forum Posts by: Eric Calabrese

Yes it's 304 sq foot home 2 floors. It's extremely small but rooms in a shared home rent for 4-500. They are small homes.

Hey everyone, I'm getting ready to close on my second deal in a year and a half. (Behind schedule) the property only shows a 8-9% return which is low. The reason why I'm even interested is because it sits on a double lot. I found a local contractor who builds these small  homes for about 35k and I know I can add value to the land and also add a extra 12% return in my pocket as well as new construction tax write offs. 

I already called and confirmed with the city I can do it legit. Question to you guys is would you take less of a return on the first property for better long term numbers?

( please take note this is in a city that is looking at a 18-23% growth population wise in the next 10 year's)

I’m in NC so it’s a very landlord friendly state. She did not turn her keys back in so tech not but all her furniture was moved out all that was left was a bunch of garbage that I hadn’t hauled away yet to see if she does. She didn’t threaten me yet but she was getting loud with me and I was trying to explain that I was under the impression she abandoned the property. My HVAC hadn’t no air flow in my house for weeks. Plus how would she make any repairs with no electricity. She also was subletting my house out so there’s was a lot of excessive damage.

so My tenants lease ends oct 31st, she moved out on the 6th after paying the last month rent but turned all the utilities off also, I went in to make nessasary repairs on the 19th and also turned the utilities back on to work. She called me today asking why I made repairs on the home before her lease is up. I was under the assumption she abandoned the property am I in the wrong here?

my question to you all is, do you think the fact that places outside of the US doing so poorly and so much foreign money in our market will keep us afloat for longer than we should? 

i say this because people in flushing queens NY are speculating a recession would hardly affect us due to so much foreign money invested from china.

you dont believe interest rates continuing to go up and prices continue to go up wont create some sort of bubble ??

@Marcus Auerbach you’re deff correct about that, I already got lucky with charlotte NC in my area and i know it’s the perfect property for a 20+ year investment, I’m not looking for the big winner in Milwaukee only because their City in general is like 50 years behind being a decent sized city. I just want great cash flow and if it appreciates more than inflation great if it only appreciates with America that’s cool too. I’m more of a long term coc guy

I found an area that they’re thinking of building some highways near and another shopping center. Like you said the home is old (1895) but has been renovated. The cash flow sounds great even after heavy amounts of money put aside for reserves. That plumbing thing may be Scary I’m sure behind the walls hasn’t been updated I’ve yet to inspect it.

Jorge you’ve been super clutch I appreciate your comments! 

In my fellow investors opinions who know the Milwaukee climate, what do you guys think of the zip 53208?