All Forum Posts by: Jeremy Trad

@Mitch Ferraro looking forward to it!!

@David Desousa

Riverwest has been "up and coming" since the 80s. Some of it is, some of it is not. Very hit & miss. How familiar are you with the area? PM me more details regarding your deal (address) so I can better assist. Regarding the job + loan situation, you may want to check in with Marine Credit Union to see if they can help you into a nicer property/area.

Congrats @David Desousa for jumping in!

Regarding your deal, I would look to leverage your 50k as a down payment on a building in a nicer area. Given the details you've presented, I fear that your PM, maintenance, and capx projections are relatively low for a home built pre1950 in a rougher area(guessing based on the city and details provided.) It'll work great as long as you have a good tenant who pays on time, but the rougher tenants really wreak your spreadsheet. Where is your deal located?

Most lenders require 5% for owner occ and 25% for non-owner occ. Even if you don't owner occupy, you're 50k down could push you into a 200k building in a much better area, with fewer headaches and better returns. Or, buy 2 100k duplexes with leverage vs 1 200k property.

Always good to hear when the local group is doing good work. Congrats @Sam Gellman! Keep growing that portfolio!

@Corbin Jones

Check out your state's website!

https://www.state.nj.us/dca/divisions/codes/offices/landlord_tenant_information.html

While I'm not a lawyer, my understanding in Wisconsin is that you'd be "protected" based on the verbal rental agreement, but that becomes messy quickly in a 'he said she said' situation. As my sales instructor drilled over and over again: ALWAYS GET YOUR LEASES IN WRITING, even short term month to month agreements. Wishing you lots of luck! 🤞🤞

Looking for Milwaukee(county) multi-families for a client!! Price range between $750k-1.1M. Looking to close by the end of July. Minimum of 6 units. No war zones. [email protected] or (414)973-9692

I completely agree with @Jason Bott . WI Legal Blank contracts are must haves when self-managing rentals. @Cole Marschke Good luck with your investing!

@Mike Mannello, who did you end up going with for PM? I have a few that I can recommend if you'd like.

 Hey Mike!

Glad you're interested in Milwaukee! While I don't know your target numbers, there are a variety of neighborhoods that will fit your budget and provide steady cashflow. I think it would be better to start with your property manager and repair crews. Where do they operate? More importantly, where do they stay away from? I think building those relationships will lead you to the neighborhoods you're looking to invest in. Feel free to reach out if you have more Milwaukee questions! Good luck and happy investing!

Hey @Corbin Jones, you should check out the Brew City REI Facebook page. They have a great contractor referral section. Good luck and happy investing!