All Forum Posts by: Hussain Harun

@Angel S.Welcome! I'm a new investor local in here in Madison as well. Interested in small multifamily buy and holds too. I would love to connect.

-Hussain

Hi All,

I was wondering if anyone had a good experience with a plumber they would recommend for a new investor in the Sun Prairie, Madison, or Deforest area of Wisconsin?

Thank you in advanced! Everyone on BiggerPockets has been a great help!

-Hussain 

This is sort of off topic but have you ran that duplex for 200K through the rental property calculator here on biggerpockets? The only reason I ask is that I'm local from Madison, WI as well and I'm not sure if rents will be high enough around here to make a 200K duplex cash flow with FHA 3.5% down. But of course each scenario is different...

@Eric Sanford

Hello,

I'm just getting started on BP too. Good to see some Wisconsinites. I love the podcasts and the webinars on here.

Any interest in combining your two passions and practicing real estate related law?

That is interesting. I wonder why. Anyone have experience with rentals in Door County, WI? I wonder if there's' opportunity there. I think it's definitely a beautiful place to visit.

Thank you guys for your replies! I appreciate the help. I got a lot of good information/leads.

-Hussain

Hi All,

I am a relatively new investor in Madison, WI. I purchased a 4 unit building last year through conventional financing at 25% down through a local bank (Park Bank). I am looking to buy another (likely owner occupied) 4 unit building . I am beginning to understand not all lenders are made equal. It seems like the way to go from reading posts on BP is to do a FHA loan if I am willing to owner occupy. Just calling around I had a hard time tracking down a lender that was familiar with doing a FHA loan on a 4 unit in the area. I am willing to go the conventional financing route as well but the 25% down payment puts most 4 units out of my immediate grasp without getting creative.

My questions:

1) Does anyone know good lenders in Madison, WI (or surrounding areas) for FHA loans on 4 units?

or

2) Does anyone know good lenders in Madison, WI (or surrounding areas) that give lower that 25% down payment for conventional financing in the area for owner occupied 4 units?

Thank you for your help with this,

-Hussain

Congrats again on your purchase. Circling back to the section 8 tenant topic, I have a section 8 tenant in Sun Prairie, WI and Dane County House Authority contacted us shortly after closing to update our direct deposit info. I would contact them proactively though just to be safe (we almost had the money go into the previous owners bank account for the rent due the following month after closing) I believe they had me fill out a W9. Anyways, shortly after closing we requested to increase rent to market value and it was a pretty easy process to get approved and works best to put in shortly after you buy the place (if applicable)

Good Luck

-Hussain