All Forum Posts by: Jacob Sheets

@Dylan Eldred A great way to start!

@David Mo this is an awesome story! I see you're in Milwaukee - would love to connect sometime. Ever go to the Milwaukee REIA meetings?

@Brock Mogensen Agreed! Every journey starts with a single step.

@Jayson Cain great way getting creative. Congratulations, and thanks for sharing!

Excited that my buyer clients just closed on their first househack owner occupied duplex in Port Washington, Wisconsin!

@Adam Chmielewski saw my BiggerPockets post around a year ago, and reached out to learn about how my wife Rosie and I got into our first two househack duplexes. I educated them not just about buying his first home, but also showed them how to use the BiggerPockets Calculator so HE can decide on what KPIs (key performance indicators) that he wants to purchase his investments off of and confidently select his first on-ramp to financial freedom.

What was your first househack story, and have you ever helped anyone get started like this before? Would love to hear your stories!

Also, if you live in the Milwaukee to Madison area and/or attend any of the BiggerPockets, Milwaukee REIA, or Madison REIA meet ups, I would love to get connected. On to the next!

I remember listening to the BP podcast in the past, and one of them talked about them finding a lender that would use the discounted price as their equity in the deal. Buyer wouldn’t need to put any of their own cash in because of the discount.

Ex: buying a home appraised at 100k and you get it under contract for 75k.

Do you remember which podcast this was, who spoke? Do you have any personal experience structuring deals this way?

@Jason High it’s a great strategy, especially if you plan on holding it longer after they graduate.

My seller clients just closed on their side-by-side duplex here in Whitewater, WI. In my area, I've noticed A LOT of investors (including potential buyers on this transaction) that won't even consider university/student housing due to how volatile everything is with COVID.

What used to be one of the highest margin strategies just became one of the most risky - lower enrollment, more virtual learning, less renting demand.

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Is this the same where you are at, and if it is, how long do you think it will last?

@Brock Mogensen Thanks! My wife and I are doing “The House Hack Hop” right now. We are on our second duplex at the moment. Would love to connect with you in the future. Do you stick just to Milwaukee or go further north?

🐋🏨 WOW! We reeled in a BIG one this weekend! 🏨🐋

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April, my fellow Madison REIA (WI) member just purchased her first owner occupied 4-Unit rental building!!

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I have been working with April for almost a year now, and we have traveled, LITERALLY, all over the state together for something that had GREAT numbers AND a prime location. We viewed properties in Madison, Lodi, Janesville, Baraboo, Jefferson, and we ended up in Slinger. I ALWAYS go above and beyond for my clients! 💪🏼🚗 🧐

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Have you done any owner occupied small multifamily properties in the Milwaukee to Madison area? That's where I've been researching, and I'm curious what other investors are out there doing deals. My wife Rosie and I have a goal of acquiring 1 small multifamily property per year for the next 8 years (to make 10 properties total), and I'm curious who else is looking in the Milwaukee to Madison areas. Any other speculators out there estimating the next prime location coming up in the next 12 months of small multifamily properties?