All Forum Posts by: Todd Heintz

Hi @Renee B.,

Welcome and hello from Huntley.  My wife and I have been on for a just a few months.  We are working hard to get our first deal under our belt.  We had met @Zack Karp at a meetup and he has been extremely helpful.  

Feel free to reach out if you have any questions.  

Regards,

Todd

@Joe Twing - We have not looked too heavily in the Fox Lake area yet.  We have been concentrated more in the Harvard and Woodstock area in McHenry county and a little bit in the Elgin area which is Kane county.  $80K will get you a rough 100 year old house and the taxes will be about $2800 to $3000.  But since the house is in rough shape we wouldn't be getting much in the way of rent.

As far as why Wisconsin, it has been mainly the taxes.  We have just started.  We viewed our first properties this past weekend in Delavan.

Michael, thanks for your reply.  I will have to look into the WI landlord laws.  Right now we are looking to invest in Walworth county.  And comparing like-for-like properties we've found property taxes to be about half of what they are just over the border in McHenry county (IL).  The lower property taxes are attractive as we are looking to invest in rentals and the lower taxes really boost the cash flow.

We haven't looked in Milwaukee county yet but will definitely keep that in mind.  

Thanks again,
Todd

Hello everyone.  We live in northern IL and are looking to invest in southern WI.  The property taxes there are half of what they are where we are in northern IL.  I'v heard that WI has some little charges, fees, little nuances when it comes to real estate.  Would love to hear from folks who are currently investing from out of state into WI.  What additional expenses, taxes etc... should we be aware of?

Thank you in advance.  We love BP!

Todd

Johnny,

I believe if you go to a portfolio lender you would not necessarily be restricted by the 10 financed properties.  Portfolio lenders do not see their mortgages to Fannie so they don't need to adhere to their limitations.  That being said the lender themselves may have their own guidelines, restrictions etc...

Regards,
Todd