Any Northwest WI Investors?

Question

Looking to network with anybody in the Northwestern WI market: Polk, Barron, Dunn, St. Croix Counties.  I have several properties for sale and I'm currently looking for 3/2 SFH myself.

Paul Raymond Wood · Answer

Hi Steve! Old post I know, but are you still investing in the area? I work largely in the counties you mentioned and dabble in EC, Chippewa, and Pierce as well. The market has really been cranking lately.

Nathan Letourneau · Answer

At the very bottom of the County website there's a link that says, "real estate for sale tax delinquent". Click on the link and it will Download a pdf of the properties that were up for auction. You can just monitor the website for when they post things again.  What kind of real estate investing do you do?

Steve McGrane · Answer

Auction today was pretty good.  The plaintiff showed up (bank) and placed their bids on 3 properties... since they get to go first, this is the starting bid.  There was only 1 bidder, and he chose to not bid on 2 of the 3.  He won one auction for $1 over the bank amount and then he didn't have his cash with him and had to run and get it.  We were over in less than 10 minutes.

What I learned was to read the auction listings, drive by the properties and make a decision and then go to the auction.

If the property is confirmed vacant, this is a great way to get a property.  Otherwise there are some "opportunities" that you need to consider.

Steve McGrane · Answer

Got a link?

Nathan Letourneau · Answer

It wasn't a regular foreclosure, it was a tax foreclosure...so it doesn't go through the sheriff sale like normal. Looks like it sold for $17,500.

Steve McGrane · Answer

I didn't even hear about it... and I've been on the Polk county website and am planning on going tomorrow.

Right from the website:  "All Sheriff Sales are conducted at 10:00 a.m. Sales are held Tuesday -  Thursday. See the sale calendar or the notice. PLACE: The front lobby of  the Polk County Justice Center, 1005 W. Main Street, Balsam Lake, WI  54810."

How did you hear about it?  I can certainly be happy with a 3bd for $7500 or less!!!

Nathan Letourneau · Answer

Hey Steve- did you bid on the Polk county tax auction this morning? Had a 3+ bed in atlas (west of luck). Opening bid $7500. I'd guess it sold for less than $20.  Was actually pretty good, but a little far for me.  I'm by Somerset.