All Forum Posts by: Tim Chiu

Hello all, 

I am looking to connect and network with wholesalers in Madison Wisconsin and Dane County.  I'm primarily interested in small to midsize multi family, but I'm open to single family homes as well.

I mostly focus on buy and hold.

Thanks!

Tim 

@Joshua Martin Thanks for the recommendation!  I actually worked with Waterstone on a couple of rentals a few years back.  The broker I was working with moved to another company so I haven't check them back recently.  My experience with Waterstone is that they sell the mortgage off to another bank quickly within 1 year, and their underwriting was extremely strict which led me to provide A LOT of documents and having multiple 3 way calls so they can get information from various sources that would require my consent.  Selling the mortgage creates additional hassles with changing payments and the need to provide additional information to the new lender.  I am interested in Portfolio Lenders who finance their own loans and can build a long term relationship with.

Thanks!
Tim

@Mindy Jensen this is great! I actually just heard your podcast 2 days ago so its almost like a celebrity is replying to my post 😀👍 I will deinitely give them a call. 

Just want to update this post that I had contacted both Colonial and Forward Management, and they both only manage larger apartments.

Thanks @Luka Milicevic, Great info @Daniel Dietz @Yashira Zavala   I will definitely check them out.  

Hello all,

I have heard and read from BP podcasts and other sources that local banks are able to work with investors more to create flexible loans for investment properties.

Does anyone have recommended local banks in the Southern Wisconsin region for investment property and commercial loans?

Thanks!

Tim

Thanks for the response Corina!  I felt kind of left out for a couple of days without seeing a response :)

I have recently joined the Madison REIA and got a couple of contacts as well, but not the ones you mentioned. I tried calling one of the contacts and left a voicemail, but apparently she's very busy today, hopefully that is not a sign.

Thanks,

Tim

Hi all,

Does anyone have recommended Property Management company?  I recently purchased a duplex that is currently managed by a large Madison property management company, and just from looking at the condition of the property and also reviews online, they are not doing a good job managing properties.  They also seem to have bad reputation among tenants.

It also seems like the larger the property management company the less they focus on the needs of the owners and tenants.

Thanks in advance,

Tim