All Forum Posts by: Pete Woelfel

thanks @Ryan Kroupa!

We have a duplex in that area also and pay just under $100/mo - our agent said a lot of what drove that price was the size (duplexes over there are larger than the ones we have in Tosa) and age (I think the Washington Heights one was built in 1929)

Hi Milwaukee BP friends,

I have a 4 unit property under contract.  One of the units will require quite a bit of rehab.  We have an inspection contingency and I'm hoping to hire an inspector with experience in multi-family buildings and if possible someone who can help with rehab estimates.  If anyone has any recommendations I would be very grateful.

Thanks,

Pete

I tried them in Milwaukee for a brief period.  If I'm being honest I wasn't as consistent as I should have been.  That said, I got almost no calls and put out several dozen signs.  I've done some direct mail and while its been more expensive results have been better.  Good luck!

Thanks for putting this together last night Ty.  Was good to get out and meet some new Milwaukee investors!

Hey @Robert Shedden - I'm a little late to the party here.  I don't think I have much to offer that hasn't been said.  I think in your shoes I'd refund the whole thing and just move on.  It stinks, but even if you kept a small portion for a few days of "lost rent" to relist it or a small relisting cost - if he pushes back to try to get any of that back, the time you spend dealing with it won't be worth the few bucks

I have a duplex I self manage where the tenants are not getting along.  There has been petty stuff for a while that I've tried to stay out of.  It sounds like it reached a boiling point on Saturday night.  Lower level is saying upper level threatened them.  They said they called the police but the police never showed up - I'm very skeptical of that in this area.

Both tenants pay on time and keep the place in reasonable shape but are high maintenance in terms of the things they contact me about and their bickering.  I don't really trust either of them at this point.

Lower is saying they don't feel safe and want to move - they signed a one year lease 7/1/21 and are paying a little under market.

Upper's lease expires 9/30/21.

Although I'm not excited about the potential for a completely vacant duplex heading into fall/winter in Milwaukee, I'd kind of like to get both tenants out and start from scratch.  The location is good so I'm optimistic about finding better tenants (haven't had problems in over a decade before these two).

I'm looking for help with three questions:

1) Do I have any responsibility to call the police or address the tenants myself, and if so, what do I even say?

2) If I want to let lower out of their lease, is there a specific type of document I need to have them sign?

3) If I don't want to renew upper, do I just send a letter that says your lease ends 9/30 and you need to be out by then?

Any help would be appreciated - this has been a stressful situation

@Brandon Lee - I'm not a wholesaler myself - but I might suggest searching through the archives of the bigger pockets podcasts.  Over the years I've heard dozens of episodes with experts in that discipline.  They weren't necessarily Milwaukee specific (my guess is the biggest thing that will have an impact locally is learning the neighborhoods in Milwaukee if you don't already) but the things that you'll need to learn (how to identify who to reach out to, creative ways to reach them, how to engage and find out where their pain is, etc) are going to apply to all markets.  Good luck!

Congrats @Sam Domach!  

Does the property manager that lives on site do all of the maintenance themselves?  Are you paying a salary or exchanging rent for that service?

Congrats @Chad Rocke!  What part of town is this property in?