All Forum Posts by: Pete Woelfel

Had no idea we had so many investors from Wauwatosa - excited to meet you guys!

Welcome to BP @Stephen Yancey!

Are there specific areas of Milwaukee that you'll be concentrating on for your Wholesaling?

Thanks @Jim Pellerin!  That's along the lines of what I was thinking of.  My concern would be that after even 5 years, without the guarantee of some significant appreciation, I don't think the mortgage payments will have built up enough equity for me to be able to guarantee the entire principal back without actually selling the property.  I guess that's where I need to save the extra cash flow I'm estimating for myself and make sure the numbers work to where if I save that and combine it with the equity that's paid down I could contribute enough to buy the partner out of their original investment?

Thanks @Erik Anderson

Hi All, 

This is my first post on this forum, if this question belongs elsewhere please let me know.

I'm in the early stages of building a portfolio and would like to start leveraging my experience and bringing my knowledge and hustle to the table while someone else brings the cash, and I have some interested investors.  I'm really struggling with how to structure the deal and would love some thoughts from all of you smart people out there.  

Have any of you done a partnership where you've done all the work and someone else has brought all the cash for a somewhat turnkey buy and hold?   I know I can meet the investors return goals with plenty left over for me while still funding a reserve and , and I know the investor does not want the mortgage in their name which is fine with me because I'm in it for 5-10 years or more.  I'm wondering what people have had success with as far as the length of the agreement (How long does the investor need to keep their money in?) , how contracts have been structured to handle repairs, vacancy, appreciation/depreciation, etc.

Thanks in advance for any thoughts!

I had Infinity Exteriors out of brookfield do a roof and gutters for me about 10 years ago and they've held up nicely to this point.  Don't have experience with anyone else though, sorry.

One thing to watch for is separate meters - I have a duplex in Tosa.  Electrical is billed by unit but there is only one water meter on the house.  As the landlord, I pay the water because I don't want to have to worry about the tenants fighting over who took more/longer showers and that stuff.  For the duplex (3 total bedrooms across two units), my bills are typically $180-210 per quarter/$60-70 per month.  Not sure what the electrical bills are since I don't pay them.

I've worked with @Marcus Auerbach and would highly recommend!

Thanks @Justin Kurpius and @Rebecca Knox!

Thanks @Corina Eufinger!