All Forum Posts by: Mike Higgins

@Carolyn Morales I typically always do 30 to increase my cash flow, but if the deal is REALLY good and a solid brrrr I may consider the 15.

One cool thing I got from some commercial real estate classes was an excel spreadsheet calculator that helps me with rates of returns, amortizations, and more. I’ve found that one extra payment per year takes it from a 30 year down to a 17.5 year. So with this new finding I will begins this new strategy. if I don’t have a lot of expenses I take some of that cash flow and make an extra payment.

Also, if you make bi weekly payments it saves some as well because the interest is calculated differently. So I’m interested in trying to do both strategies at once and see what happens! 🔥

Good stuff @Eric! 

@Matthew Meikle I agree. Since I live in the Midwest I see the numbers and returns I’m sure you’re referring too @Mike Chu I would agree with Matthew on this one. Good advice.

@David Iniguez I live in Green Bay Wisconsin and have been having good returns here. As well as I have a very close friend and help him with his rentals and fix and flips and he is primarily in Milwaukee Wisconsin. Seems like the numbers are much better here in the Midwest and in Milwaukee especially we are finding a lot of out of state investors.

If you need me to look at a deal I would be happy to do so. No strings attached of course, just as a part of helping the BP community.

@Scott Baker when you say “modular” how do you define it? As a real estate agent here in Wisconsin I have come across two transactions in my career having to get financing for a “modular” hoMe and it was difficult.

The modular that is referred to up here has metal beams as floor joists and the house is actually stamped with a tag! It sounds like yours may be a little different and actually stick built completely?

@Ryan Dossey, are those on your youtube channel?

@Parker Eberhard exactly!

 Thanks @Jerry Rein.  

Hey guys!  I've been wanting to read into a little more about starting a wholesale marketing machine.  Ultimately, I know, it just comes down to taking massive action. 

With that being said, I wondered if anyone had any links to some of the best BP posts or blogs for starting out in wholesaling.  It's nice to get discussion going vs paying "ONLY $997" for the same info :)

I am an agent in Wisconsin and am in the process of trying to gather information for a buyer of mine to buy a 36 unit complex for $1.2mil. The listing agent (in my opinion) is terrible with follow up and doesnt seem to have what we are looking for. She does have the rent rolls and "expenses" (according to the seller), but there is no P&L or CAP information or anything else.

I am very persistent with my questions and follow up and it seems to take a while for her and she is starting to think im a pest!  

What are some common things that you seasoned investors look for when dealing with a property this large?  Am I out of my bounds for asking for all of this stuff?