All Forum Posts by: Scott Van Straten

@Sanjay Fernandes it’s a good area for easy cash flow, you can find properties pretty reasonable, but i wouldn’t count on any quick appreciation. If you have any specific questions let me know.

@Nathan Raisbeck, Glad to hear you are excited about investing in Real Estate.  I wish I pulled the trigger when I was your age.  Don't focus on getting rich quick, but to get rich for sure.  I invest just south of Green Bay, but lived there for about 6 years.  So if you have any specific question, please feel free to use me as a reference.

@Keane Schmidt step 1 is getting a deal. If it’s a good enough deal and your committed you’ll learn the rest as you go. Without knowing your liquidity my recommendation to most people starting in our area is to House Hack. You are almost guaranteed to hit a home run that way.

@Keane Schmidt I've done 5 BRRRs in Sheboygan in the last 2yrs. The market is good for it. There are a lot of lower end properties and a new crop of very expensive properties. We have had a ton of success landing in the middle, which is perfect for the BRRR strategy. The problem right now is inventory is low, so I would focus on how to get a creative deal. Good luck and feel free to message with me with questions.

@Keane Schmidt welcome to Bigger Pockets! Getting started is the most important step. I invest in Sheboygan.  If you have any questions feel free to reach out.

@Devin Lang I don’t use a GC but can refer plumbing, electrical and HVAC that we use on our BRRRs, in Sheboygan. Feel free to reach out.

@Brandon Salm welcome to the Bigger Pockets community Brandon. I invest in the Sheboygan area. If you have any questions feel free to reach out.

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Sheboygan.

Purchase price: $62,000
Cash invested: $25,000

Bought this property off the MLS for $62000. It had a stable tenant in the downstairs and was demo'd on the upstairs. There was major plumbing/leaking issues, that I think the previous investors didn't know how to fix. We updated the full upstairs and put in above market standards fixtures and finishes to increase rent value. We then refi'd it for $88,000.

What made you interested in investing in this type of deal?

We have been buying them in auction and they have been taking 4-9 months to rehab. I liked that this was a quicker turn around.

How did you find this deal and how did you negotiate it?

MLS through our agent.

How did you finance this deal?

Cash

How did you add value to the deal?

Improved all cosmetics in the unit and brought the building to code.

What was the outcome?

We BRRR'd and received 100% cash back for the first time.

Lessons learned? Challenges?

I like the quick turn around of a property that isn't a complete rehab. I think it will speed up our investing.

@Nicole Kittell Way to go getting started! I’ve done 6 BRRRs in the Sheboygan and Oshkosh area. Feel free to reach out if you have any questions.

Hi Trevor,

Welcome to Real Estate Investing and it sounds like your head and your goals are in the right place. I invest just south of you in the Sheboygan area but did live in Green Bay for about 8 years. I have been primarily focused on the BRRR method for the past 3 years, but if there are any ways I can help please PM me.

For my first purchase I would be focusing on:

1. Saving for the down payment

2.  Building Credit/ reaching out to banks (and get used to hearing no, it's part of the dance)

3. Start practicing running numbers for cashflow

4. I would read. Brandon Turners books on Landlording.

Hope this helps.