All Forum Posts by: Jeremy Trad

Milwaukee has been booming! Would love to chat to discuss your passive income goals and see if the Milwaukee market would be a good fit for you.

I can testify to Marcus's insights on the market. Vacancies are very low, rents continue to increase, and the market is extremely competitive. One thing I do want to mention is that many PMs will charge an insertion fee for when they fill vacancies. Make sure to account for this in your projections!

@Tiffany Drahonovsky

Call your insurance agent. They're going to know how your policy actually works, including what is & is not covered.

@Tim Hermon

Spot on again... especially considering interest rates are typically under 4% and inflation is roughly 1.8%. Leverage your nest egg to acquire investments that will build your net worth while you sleep.

There are a lot of companies that will sell you a policy without full coverage (Progressive would cover my 3 unit as a single family as long as it was owner occupied.) The problem is that non-commercial insurance products cover the house, not the business. Traditional policies rarely cover you for loss of income and/or temporarily housing a tenant in the event they can no longer stay at the property (ie: if you have to put them in temp housing due to a fire.)

Tim definitely has some great insight, though his insurance costs are slightly high. You'll need a commercial insurance policy which will typically run about $900 for that building, plus a $150 renter's policy for your unit.

Awesome job @Chris Gantz. Thanks for sharing your experience! How did the end buyer first connect with you? Was it a Realtor referral, cold call, direct mail...?

If @Ryan Janssen doesn't take it, I'm interested! I'm a local investor and Realtor with a number of out of state investors. A-D areas, but send anything and everything! I'll take a look!

Congrats on the impressive deal! Will definitely aim to do something like this in a few years after solidifying my foundation. It's always important to know what's going on in the business sector near your investing areas.

@Justin Reyes

How much work does it need? If ARV is 325k and it needs 55k in work, 280k may not be what you should try to pay. Regarding the contract itself, as a Realtor, I always recommend using the state approved WB11 residential offer to purchase.