All Forum Posts by: Jim Jaworowicz

I had tenants who refused to cut the grass (Single Family) more than 2x a month, despite the lease stating it would be cut when it was 2" in length.  It did not matter if that was every 5 days.  I eventually had to hire someone to cut the grass & billed the tenant.  Also billed then for the citations from the City because the grass was too long (the neighbor's complained).  I eventually gave them a 28 day notice and took the cost to cut the grass out of the security deposit.  I would manage the situation till spring and give them the 28 day notice.  Having a PM to deal with the situation is a good idea. 

Welcome to BP.  SF and Duplex investor so far.  Have a line on a possible 4 family.  Your apartment experience will be a big asset to the community.

Educator's Credit union (Neil Staeck) is investor friendly.  I have done one deal with them and will definitely use them again.

Sounds like you have a GREAT "WHY" - My family is my main motivation for pursuing real estate as a means to achieve FI.   Welcome and Good luck.  Reach out if you have questions - I would be happy to discuss RE with you.  Jim from Wauwatosa WI.

Welcome to WI.  Not familiar with the Madison area, but be happy be a sounding board if need be.  Active in the Milwaukee area with 9 units to date.

No you can not ask for a draft of the report in advance if the report was performed for financing.  If done for financing, the appraiser is hired by the bank and the bank is their client.  You can ask the lender for a "Request for review" and provide alternative comparables or point out incorrect information in the appraisal.  WI appraiser for 30 yrs.

Their looks will change when they see the success you have become/wealth you have built.  Stay the course and Invest on!  Don't worry about the nay Sayers.  Everyone is welcome to have an opinion.  Listen to opinions that are informed.  

I am working with Waterstone Bank/Wauwatosa - State Street on Investment property financing.  They offer a line of credit on Inv. Properties.  Carol Carey is the branch Mgr - Have been working with her.  A very good place to bank!

Marylou Davido with WFA Aset Mgmt.  I have 9 units.  She grew up in a real estate family.  She knows her stuff!

I have 9 doors in C/C- neighborhoods.  Most are smaller 2 BR units.  They cost less to purchase (2 BR) and repair (smaller sq. ft).  There are generally 2 people living in them so there is less wear and tear.  I update them when I buy and in between tenants and keep them in good repair when a tenant is in them.  I am able to charge top dollar rents and require a 600+ fico score with no evictions in their past.  I have little problem filling the units and average about an 11 - 14% return after all expenses (including Cap Ex and financing).  I use a property Mgr so I can concentrating on Investing and my other job.  It works for me.  The bottom line - you can invest at any grade level with the proper procedures/safeguards in place.