All Forum Posts by: Mark Shaffar

Thanks for your interest Brie. That property just sold but I have another deal today at 4106 W Fairmount Milwaukee. These are full rehabs so it would take 90 days to get it closed, rehabbed, and a new tenant placed to make it turn key. We are looking for cash buyers to put up the $65k all in. After rehab we should be looking at roughly $1075/mo. It's a SFH. Our team has done 3,300 deals like this. You can check us out at:

midwestequitypartner.com

My company has a recently rehabbed duplex available in Milwaukee for a cash buyer for $65,000. It should rent for roughly $1200

I second that, I've been living and working in China while owning in Minneapolis. Having a good property manager is everything. 

I agree with Joe, you just need to know what banks require in different areas. From what I hear, more stable markets make underwriters feel more comfortable offering cash out refinancing at 80% loan to value while others are more like 70%. You also need to consider your income when factoring financing. If you are new to real estate investing underwriters may not count the rent you receive when determining your debt to income ratio and it may be difficult to get loans. Also, real estate is nice tax-wise when you can depreciate the the value of the building to offset some of the income from the property. 

My SFH that rents for $1250/mo is also show expenses at roughly 50% over the last 2 years

@Konrad Lightner you might also want to be open about where you invest. Cash flow can be better in other cities with fewer investors. I'm sure MN has better cash flow than CA, but you may want to think about other Midwestern cities.