All Forum Posts by: Sam Erickson

Fully occupied Milwaukee duplex grossing $1,250 per month.  We just did a major price drop down to $35,000.  The property has been mismanaged for some time and in need of oversight.

2016 taxes: $1575.

Seller did not keep any records so we don't have historic expenses.

This property is not my property.  I currently have a listing agreement to sell the property on behalf of the Seller.  Please reach out with any questions.

Hi Everyone, I know it's been a few weeks since our last meeting but we did want to try to sneak one more meeting in before the end of the year. This will probably be our last meeting in 2017.

This can be a great time to find and pick up deals. I'll share on the duplex I purchased between our last meeting and now!

Give the time of year please RSVP through the facebook group. If we don't get enough RSVP the meeting may be canceled.

@Marcus Auerbach thanks for the mention and getting me on this thread.  @Eric Matuszewski please feel free to reach out.  We can chat about your financing questions as well anything else you may have questions on.

@Hector Padin I believe what @Dorothy Butala said is correct since you own the LLC you can manage the property the LLC owns. Once you start managing for other people and are charging fees you get into the world of operating accounts, and trust accounts which you need to be a licensed broker to have. I'll emphasis too that its "broker", not a salesperson. You also can't sign a lease on behalf of someone else unless you're a broker. This I think is what really limits not licensed people from getting into management.

We are a group of investors focused on sharing experiences and helping each other navigate the ins and outs of real estate investment in Milwaukee Wisconsin and beyond. We also connect to other clubs in the Midwest to share ideas, information and opportunities.

This nights meeting will be all about connecting.  Come with questions, ideas, needs, etc.  

The location will be at the Keller Williams Office in New Berlin on the corner of Moorland and National. 3830 South Moorland Road New Berlin WI 53151

Please invite others to the event!

Welcome to the Milwaukee Real Estate Investors Club.

Hi @Jeremy Lee I was operating my own brokerage but joined KW last year and its been great.  If you'd like to hear about what Keller Williams has to offer I can help, won't know much about other brokerages though.  Keller Williams is well known for their training and success of their agents.

Also as a generic statement I've found that about 1 deal a year and you'll break even on what it costs to maintain you license.  Could be a little more or less depending on the split of the brokerage you end up with.

These are actually occurring every 2 weeks.  So the next meeting will be on 10/26/17.  Will be posting for that meeting soon.

Just wanted to let everyone know our doors to the office automatically lock at 5:00pm.  So if you get here and no one is at the door just knock and someone will come and let you in!

 Awesome, hope to see you there!

@Donald D Michna sorry for the late response, I'm not sure if we have any note investors that attend the meeting.  I don't do it myself but am connected to a couple investors that are in the note sector.

@Kevin Janssen Yes for the most part we meet every other Thursday.  All events will be posted here on BP as well as on our Facebook page.

Here is the link to latest event that is happening this Thursday.

https://www.biggerpockets.com/forums/521/topics/496825-milwaukee-real-estate-club