All Forum Posts by: Scott Demots

Hi Brad,

Welcome to BP, I'm a residential contractor. About 2 years ago I decided I would get in the real estate game. I've purchased 4 duplexes and just bought a house to flip last week. So far things are working out nicely.

I would suggest finding a realtor who can suggest where your time/money is best spent on your flip.I've learned a lot from the BP community.

Good luck!

Hi Hummayun,

Welcome to BP, I was an investor and still do some. About 5 years ago I decided I could make more investing my money in real estate than the market. So far things are working out nicely.

I'm sure you'll connect with someone in your area. I've learned a lot from the BP community.

Good luck!

Hi John,

Welcome! I like yourself want to accumulate enough properties to quit my day job. I am a residential contractor and live in the Milwaukee area.

I've bought 4 duplexes in the last 18 months. In the process of making those purchases I have spoke with many lenders. A down payment of 20-25% is an industry standard.

Finding a lender that is willing is to work with you in realizing your dream is key. You may consider a cash out refi on your home as an option to obtain the needed down payment money.

Good luck!

Hi Joe, I'll be using conventional loans to purchase my duplexes and houses I'll be flipping. I have a good amount of investment capital to cover down payments on 2-3 more duplexes. I plan on flipping a couple of houses each year to generate income to replace the money I,m using on down payments.

Thanks for the keyword tip Dan.

Hi Dave, I like to have my properties no more than 10 minutes drive from my home. The property I referred to is located in Milwaukee. It's a 3/3 and I get $800 per unit. I own a 3/2 in Wauwatosa I get $975 & $900 for and a 3/2 in West Allis I'm getting $950 & $850 for.

I'm closing on a SF to flip 3/7 in Wauwatosa, pretty excited. We should definitely talk. I'd love to see your recent purchase

Hi Zechariah, The single family is located in West Allis on 74th St between Beloit ST and Oklahoma Ave. The cash flow for the property is significantly less than my duplexes. The tenant has lived there for 4-5 years and is a good tenant overall. They are consistently late with the rent, but always pay. I'm getting $1,100 a month for the SF. The lowest I get at a duplex is $1,600. I will be able to purchase a duplex for what I'm able to sell the SF for.

Thanks for response to my post, I'm looking forward to meeting fellow investors :-)

Hello my name is Scott, I live in Milwaukee WI. I made a decision to get into investment property last year. I own 3 duplexes and a single family. I am planning on selling the single family. It is a property that I was going to flip in 2008, but the market turned so I decided to rent it. I am planning on purchasing 1-2 duplexes this year and flipping 1-2 houses. I am excited about what the coming year will hold, meeting new people, and learning more about investment property. Looking forward :-)

If you are in the Milwaukee, feel free to drop me a line.