All Forum Posts by: Account Closed

@Pat Parrillo 

Welcome Pat! I agree with the investors who say the closer the better for the investment property. I live in Cedarburg and have two properties in Kenosha. I manage the SFH myself because there really isn't much for me to do there even on a yearly basis. My duplex is a whole other story though. I'm using a management company there because it needs attention much more frequently and that 1+ hour drive each way is a no go. When I lived in Kenosha it wasn't a problem for me (I was about 15 minutes away) and I really liked having the control off all aspects of management. You are right about prices out here being a bit higher though. From what I see, Port is still less expensive than Cedarburg or Grafton. Occasionally we get sellers that do not want to list a property on MLS but are interested in selling. I'll keep me eye out for those. I'm pretty sure we had a duplex in Grafton with that kind of situation within the last few months. Glad you found this site before buying your first property. This place is a treasure trove of information. I wish I found it before buying my first!

@Dave Carpenter 

I sent you a message. I have a guy in Mequon who I really like.

Welcome to the site Matt. Must be really exciting picking up your first property! Where did you get the 4 plex at?

Will try to make it as well, but have to trade away my floor time at work...

@Robert Taylor That sounds like not the most fun area, yikes! 

@Dave Carpenter I started going through the actives and solds (last six months) in that area (more or less the area bordered by North / 55th / Center / Sherman). You should probably get another market analysis from your realtor. See what sold and for what price. Take a look at the actives too, that is what you need to be really focusing on now. I would consider this one very strong competition for you. It is in the same area, rehabbed, and priced much lower. Check out - MLS #1377921 2528 N 46th St. in Milwaukee.

@Nicole Pettis Thanks for putting on the event. It was great to start meeting people in the area. 

@Brie Schmidt Thanks for posting the picture. I was reading your blog posts about how you guys got started in real estate. Motivational and very moving. I'm actually reading the second property one now.

Hope to see everyone again in the future!

@Dave Carpenter 

It's location, price, and condition that really matter. You can't control location anymore and you are pretty much done with the condition, so make sure you are right on that price. I pulled numbers from work and it looks like there is only 4 1/2 months of inventory for homes in Milwaukee under 100K. That still signal a strong market (generally under 6 months signals a seller's market). Think hard about that price so you don't run into winter's carrying costs and end up reducing anyway in the future!

@Kristin Whitfield I can vouch for @Ed Riggenbach . We switched to his PM company a few months ago from a company that I had a lot of bad experiences with in Kenosha. Ed has quickly turned our property around and addressed all of our concerns. The difference is night and day with work ethic and communication. If you want any more info from me, let me know.

Thanks,

Conrad

Thanks Dawn. I will send him a message too. Are many investors not using accountants and just preparing taxes by themselves?