All Forum Posts by: Teresa Machi

@Doolan Wesley who is the Inspector? I'm going through pains myself in Bay View. Feel free to PM me.

@Michael Weber see below!

We've been flipping for about 3/4 years now.  Flipping definitely isn't our primary choice for investing.  We began buying and holding about 10 years ago.  Buy and hold properties have to be the right price in order for us to purchase, we were spoiled in 2009 buying duplexes in Bay View for $100K.  That being said, we still buy for our portfolio but the numbers need to make sense.  We invest primarily in single families and duplexes in A/B area and have about 80 units.  The passive income from our investment portfolio and hard money lending is our preference when it comes to investing.

Investment Info:

Single-family residence fix & flip investment in Bay View.

Purchase price: $105,000
Cash invested: $65,000
Sale price: $215,000

We sold our flip that is located in the heart of Bay View (Milwaukee), WI. We do not prefer to flip as there are so many added benefits to the buy and hold strategy, but the market calls for it so we will continue to take on as many as we can. This particular property did not have a garage, but it didn't deter us because we've flipped similar properties in the area. In addition, it's in great walking distance to a lot of shops and restaurants.

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

We invest heavily in Bay View and found it would be a beneficial deal. At first we were going to add it to our rental portfolio, but then realized it would a decent payday if we turned it into a flip.

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

This was through a wholesaler and the property was brought to us.

How did you finance this deal?

Cash

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Mach1 Lending

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $86,500
Cash invested: $50,000

We picked up this 3 bedroom, 1.5 bathroom right outside of Bay View from a wholesaler. It needed pretty much everything except for windows. Foundation work done, all new HVAC, electrical, plumbing, tear off roof, and the list goes on. It's on a busier street, so it wasn't the most desirable location. We held strong and didn't budge on price. This transaction closes this week and it won't be a bad payday. Reach out if you want to know more.

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

Bought from a reputable wholesaler that we've built relationships with

How did you finance this deal?

Cash

How did you add value to the deal?

This house is pretty much brand new

@Gregory Chadwell  we've been investing in Bay View for 10 years or so.  I was buying foreclosed duplexes for $95K, so I've definitely have seen the price increases first hand!  Had I known, I would've bought an entire block! :)

Investment Info:

Single-family residence fix & flip investment in Bay View.

Purchase price: $115,000

We picked up a flip from a wholesaler. Truth be told, it was a mostly finished rehab and presumably the owner ran out of money. We hate flipping, but with the market being so hot we opted to finish this off and put it on the market. Accepted offer within 3 days, set to close mid-August. Happy to share numbers privately. On to the next!

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

It was on the edge of Bay View and 90% completed. We needed to add a few items and put it on the market.

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

Through a wholesaler.

How did you finance this deal?

Cash

Clarence is spoken for ;)

Thanks everyone! 

Investment Info:

Single-family residence buy & hold investment in Milwaukee.

Purchase price: $127,000
Cash invested: $25,000

We bought a fairly distressed home in a great Milwaukee (Bay View) location last year for $127K and updated it by adding another full bathroom upstairs.

We will rent this home for $1895, not a huge money maker but will yield roughly $600 cashflow/month.

The most important part is that I will have zero money into this deal because I waited a year to BRRRR to get by the seasoning period so now it will create infinite returns.

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

Off market, cash offer

How did you finance this deal?

Cash but then refinanced out after a year to bypass the seasoning period.

How did you add value to the deal?

We remodeled the home from top to bottom, adding central air and a bathroom upstairs.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Milwaukee Real Estate Solutions! :)