All Forum Posts by: Chris Heeren

I happen to know an All Cash buyer in Rock County if you end up wanting to wholesale some of those deals ;) I also try getting out to the Madison REIA General session each month, definitely a good group to attend if you are new to the area!

The Heeren Method . . . I love it haha!  @Tyler Beers I think you may have miss understood Jonathan's suggestion, that method IS a buy and hold method. It's actually a combination of Wholesaling, Flipping, and Buy and Hold.  We find our properties using wholesaling methods, but rather than give away most of the equity, we borrow investor funds and rehab the property ourselves, finally instead of selling the property for quick cash we go to a bank and put a loan against the property. It's almost always enough to pay off the investors 100% and also put a little extra cash in our pocket. If you do the numbers correctly, you'll walk away owning 20%-30% of the house without having used a dime of your own money, maybe walk away with $5K-$10K in your pocket, and also keep a cash flowing property that puts $100-$200/mo cash into your pocket.  How many of those deals can you afford to buy?? (We bought 7 just in May-June)

You can put me on your buyers list!

 Curious as why you would recommend staying away from Beloit?

Has anyone looked into or have actually created a Holding Company which would hold multiple LLC's underneath it, then go to a bank and do one blanket mortgage with the holding company for all properties owned in the LLC's underneath it? I ask as I currently have multiple LLCs and have a bank willing to give great terms on a mortgage over $750,000 - However, I don't have $750K in any one LLC and obviously can't do multiple separate mortgages to multiple separate LLC's and still qualify for the terms. My thinking was to create a Holding Company and then have the bank do a single loan to the holding company that would encompass all the properties underneath it. The bank already said they would be willing to do this. My concern is does that break down and defeat my asset protection structure in the first place, as I may be acting as a single entity in terms of the bank loan? This may also apply to Insurance Purposes as well, just curious to see what other investors have for thoughts on using a Holding Company for this approach.

WI Mutual is the best insurance company for rentals in Wisconsin IMO - If someone can find better rates, please let me know!

@Matt L. Check out Podcast 197, I've bought 54 rentals in the last 3 years using this strategy ;)

@Account Closed Just about done stabilizing. We've been carrying about 10-14 vacancies at any given time due to the amount of rehabs we had going. We're down to 1 major rehab left and only 2 properties that are listed for rent. Also closing on a 3 property Refinance this week to finish our latest multi package BRRRR. I currently don't have anything in the mix and have been starting to pursue larger multi-family properties through-out all of Wisconsin. I may just wait until after March until I kick my single family mailing campaign back into gear. If you're passing on that 4 bedroom, do you mind messaging me the address? Also, I would to discuss a couple ideas I had with you and leads you aren't interested in pursuing.

Have you had any other potential leads come out of that mailing?

Do you market in Rock County WI?