All Forum Posts by: Tyler Smith

Hello All,

We have a tenant situation where the husband and wife are getting a divorce. The husband is staying in the place. The wife has asked to be removed from the current lease and the husband would like that as well.
Do you have any idea on the best way to go about handling this? Would we just cancel the current lease and draw up a new one and what is the best practice to cancel the current lease?
Thanks!

Hello All,

I currently have 8 doors but am looking to expand.  Before going down the road of raising money, I would like to pursue deals where the seller would entertain seller financing.  I currently am interested in a 6-unit that I walked on Friday.  The place only has one the units rented out currently and the others are in the process of some upgrades.  

In your experience, what are some of the different types of seller finance have you had success with?  My initial thought is I would like the current owner to keep the mortgage and I would pay him a monthly amount with a commitment to buy it from him within 5 years.  I would put something in there that would benefit him if I am not able to buy within 5 years such as an interest payment per month.  

I look forward to your ideas.

Tyler Smith

Thanks.....let me check with my buyers.

@Riz Ahmad, when can I look at the place.  

@Justin Johnson, I have been in touch with @Doug Prahst regarding some properties he has available.  Might be worth talking with him as well.

Tyler

@Josh Durham, Welcome to BP and I look forward to further communications!

@Drew Markert @Daniel Hyman, I plan on being there but it will be more towards 6:30

@Nick Campbell!

Welcome to BP and best wishes on this amazing Real Estate journey you are about to embark on!  I currently own 6 doors myself with 3 of them being in the Milwaukee market.  It is a great time to invest in Milwaukee with all the hype around Foxconn and many other companies that are coming to the area.  

I am a Realtor with Keller Williams located in New Berlin and would be more than happy to answer any questions you may have as you get started.  The are a couple different strategies that make sense in Milwaukee but it depends on whether you are going for cash flow or appreciation.

Let me know if you would like to chat in further detail!  

Tyler Smith

Hello @Zachary Richardson, congrats on finding a deal and crunching the numbers. Is this a property you are going to live in as well, doing the BRRRR method?

@Todd Dexheimer, I agree with your recommendation on where to invest in the Milwaukee market.  East of the river is becoming harder and harder to make the numbers work so just wanted to touch base to see if you would be willing to share your criteria used before buying?  What numbers are you looking for?