All Forum Posts by: Vipul Vaghela

I was looking at one of the single-family houses, and it was listed as four beds and two baths. I did a walkthrough of the property and noticed that one bedroom and one bath are in the basement. I also check the county record, and it was recorded as four beds and two baths. Does that mean the basement bedroom and bath are legal?

This is important for me to know because if it is not legal then I should recalculate the ARV and rehab budget. As I have to remove the bathroom and bedroom instead of finishing the full basement.

I formed an LLC with my 2 friends to start investing in a rental property. We are ready to put 20% down and looking for a property around $120k. I talked with one conventional mortgage lender and they directed me to their commercial department as we are 3 members in LLC and can't qualify for a conventional mortgage for some reason. Does anyone have a good referral for the commercial lender in the Wisconsin area?

Any other recommendations for financing are also welcomed.

@Matt Engle @Michael Facchini Thanks for info. Please send me virtual session details. 

I have a quick question regarding FHA eligibility. I'm planning to buy a multi-family unit with my partners through our LLC this year. We will use a conventional loan.

Next year, I'm planning to go for house hacking and the question is, Can I remain eligible for a conventional 5% or FHA 3.5% loan? My google-fu says yes I can but still want to pick your brains.

*ignore typo in the subject. I meant FHA loan :)

Thanks everyone for the welcoming and amazing information to start off!

@Matt Engle that's a great insight. Which neighborhood do you talk about here that are far from the downtown and under development. ? 

old post, but I want to check-in on how house hack went in Chicago? I'm also thinking of doing something similar in next 10 months.

@Dev Conboy Yeah looking forward to it. 

I will checkout his video for sure. Thanks @Eric Gebhardt @Pete Woelfel

Team BP, I took me some time to determine the market where I want to invest and pull the capital together to get started. I finally made my mind to do the first real estate investment. I am looking to start a buy and hold strategy in the Milwaukee area.

I currently live in Chicago western suburbs. I hope to learn from the amazing members of BP and build a local team in Milwaukee. Any recommendations on realtors and other individuals that know the Milwaukee market is greatly appreciated.