All Forum Posts by: Michael Braatz

Hello All,

My partners and I have recently decided to start looking into hiring a property manager for our SFR in Milwaukee. I have had contact with "Real Property Management" and was checking to see if anyone here has had any experience with them. Please let me know what you think! Also, any other recommendations would certainly be appreciated.

Thanks,

Mike

Hello all,

I was hoping someone would have some recommendations for a contractor to get some tile installed in a bathroom.  This is a bit time sensitive if that influences anything.  Thanks!

@Shawn Ackerman  Pretty much! Though I believe ALE Solutions is contracted by an insurance company.

@Shawn Ackerman  The property is in 53210.  From my understanding this company works with insurance companies to place families.  The information I have seen seems to point to 3 month lease with option to go to month to month after(at same rate) being fairly standard.  Ours actually is going to be 3 months and 23 days.  I would expect  longer term leases would be available but only if the estimated time to fix/rebuild the original home would call for that increased lease.

@Shawn Ackerman  just today we found a 3 month tenant through ALE solutions, they help families who have been displaced find temporary housing.  they are paying $1500/mo.  we have it listed at $1250.  all our expenses(capex, vacancy, mngmt, etc...)  come out to $1100.  Our goal was $100/door.  I will save a more in depth analysis of the property for when we get a more traditional tenant.

@Shawn Ackerman It went well, my partner dealt with them directly but had nothing but good things to say.  Foundation looked a bit iffy, but they cleared it.  In the end we got outbid on the property, but we stuck to our numbers.

is there a more specific area you are looking at? Some areas are quite bad and cash flow can disappear in maint, vacancy, and delinquent rent.

Right now, one of the best, if not the best card to get would be the Chase Sapphire Reserve. If you apply for it in branch you get 100,000 bonus points after spending 4k in 3 months.  It has a $450 annual fee(cancel after 9 months).  100,000 points are worth $1,500 in travel, it also comes with $300 airline credit yearly(calendar year, so you can use it twice while only paying 1 annual fee).  

1500+600=2100-450(annual fee) = $1650 value.

Why limit yourself to one new card?  The best value is to find the best introductory deals and cycle through those on a regular basis.  Any solid introductory deal is worth at least $400 in either gift cards, travel, or cash back.  Cancel any cards with annual fees after about 9 months and move on. 

There are tons of great resources out there with strategies and tips for making this work.  Preemptively....getting many new credit cards only causes slight, TEMPORARY credit hits.  I have been getting 2-3 new credit cards a year for the past 3 years and my score fluctuates between 780-810.

Looks like a great deal if you got all the numbers right. Any PMI on 15%? Also what does THS stand for?