All Forum Posts by: Shawn D.

Mindy Jensen do you need a pharmacist? Lol

Arpan Patel do you have her contact Info? Thank you!

Michael Henry I will try to contact @Rebecca Holmes. Thank you

Joshua Martin thanks for the response. I am willing to fly out to Milwaukee and go to meet up. I also wanted to drive around the city. Please let me know.

Hello my name is Shawn. Looking for a partner who lives in Milwaukee, WI. I'm a new investor who is looking to invest in Milwaukee to get started. I listened to a few podcast and became interested in the Milwaukee market. Send DM. Thank you

@Kevin Siedlecki thank you. I'll read that post. 

I just put in an offer for my first investment property! Exciting stuff! I was telling my girlfriend, I've never had his much energy in pursuing anything. Finding properties and analyzing deals is a lot of fun. Thank you bigger pockets podcast for Motivating me everyday and completely changing my mindset. I listen to you guys everyday. Anyways, here are the numbers. I offered $204,000. My agent is pretty confident I'll get it. It's a two unit property. One unit is currently being rented out for $1,100. The other unit is vacant and underwent some remodeling but does need a little work. I should mention it is quite bigger as well. I plan to live there for a while and clean the place up a bit and move out. Hopefully I can get it fully rented in a few months and move on! Mortgage will be 925. Mortgage and expenses according to Zillow with pmi will be $1337. I plan to get $2,200 fully rented. I'm thinking the numbers work here. Even with the conservative "50% rule". Anyways thanks again bigger pockets and I will keep you updated! Take care

Buy buy buy

Hello everyone. I really need some help. Here is my situation. I am looking to buy this property and wondering if it's a good investment. This will be my first purchase. It's a two family and I do plan to live there. I have been negotiating with the agent for quite some time. I really do like this properly and all the city has to offer. A family friend owns a bunch of investment properties in this area and they have told me they never have an issue renting. Here are some numbers. Listed at $339,000 dropped to $324,000. I offered $290,000. We met at $310,000. I have a big decision here. I will be doing an first time home buyers FHA 3.5% loan Some things about the property. GREAT location grade A. Right near downtown square lots of shops, restaurants etc. Easy renting. New electrical and heating system. Not much work needed MOSTLY COSMETIC. First floor is bigger which I will rent out and will get @ least 1050-1200 including utilities. I will be living on top floor but when I move out I can get $950-1,000. This property also has two, two door garages (and a buildable lot that is worth $ 90,000-$100,000 that is directly behind the MF house on a different street. (One of garages also has running water which can get converted to another unit - good friend did that to one of his and looked at this garage and said it would be a good idea- so potentially 5 units if I play my cards right.) So essentially, I'm paying $220,000 for the house and potentially build another 2 unit on the other property (in the future) which is the max you can have on that lot according to the town. Problem I'm having is the negative cash flow of course and everything I read and listen to on website and pod on 2% rent etc. I ran the numbers and with PMI, taxes, insurances, and mortgage I will be paying around $2200 a month. I really love the property but don't want to get my emotions involved. Extra info. Recent similar home sales in this area ranged from 235,000 - 300,000. 4 unit on same street sold for $400,000 to an investor (reliable source) Thanks for taking your time to read.

A multifamily priced at $180,000 in a small city where renting is an issue or a $280,000 in a small city where renting is rarely an issue? 180,000 city is not as well kept no regular outdoor shopping 280,000 city near college and large hospital, very popular outdoor shopping center. Majority of people rent Same house, same rent. Appreciation slightly higher at the more expensive house.