All Forum Posts by: Brandyn Dietman

Gregg Willich

Looking forward to it!

Michael Braatz I'd definitely recommend going to Milwaukee's free landlord course.. It'll answer a lot of your questions, give you some great starting points, free forms, and they give you a free 'textbook' of the proper way to handle just about every situation (I referenced it about every week when I was first starting). If you want some more ideas, Gregg Willich has some forms on his website which I use, and they're really good too (also free). Good luck!

Keith Turner , nice plan, and very similar to what I originally planned. I planned on living in my 3-4 unit for 2 years to save, and after 9 months I'm looking for number two. Do the proper pre-planning and you may be surprised how much better than $100-$200 a month you'll do. I'm sure you've looked into the VA loan enough to know while the cap is at $417,000 for our area, there are some stipulations as to how you can maximize the loan, and get two at once; it isn't a guarantee. So, I'd plan ahead a few steps so you don't screw yourself out of that opportunity. If you ever want to chat about it more, give me a ring at x701 or come by the office.

Thank you guys for your help and advice, I really appreciate it! I'll chat with my accountant/tax preparer and mortgage broker about my options and planning. And Zack Karp , thank you for your support!

Hey everyone! I purchased my first property last May, which is a 3 unit. I occupy the lower unit, and used the VA, so I have a 1 year owner occupy clause. I have good cash flow, and want to expand my mini empire. Question is- I plan on purchasing another owner occupied 3 or 4 unit in May here in Milwaukee. I can either possibly qualify for a second VA or I'll use the FHA. However, I also just found a good deal on a 3 unit, back home in Door County which would have great cash flow. It's been on the market for over a year so I suspect there's something wrong with it, and I'm planning on seeing it over Christmas break. If it seems doable, I'd like to talk to the owner about owner financing over a 3 year period with a balloon at the end. If it did go through, I already have a property manager set willing to take it on. So, would anyone advise against doing a deal like this so close to purchasing another owner occupied here in Milwaukee? I'm worried about DTI when it comes time to buy the next property here in May (mine is pretty low now), or The underwriter worried about me buying too quickly. I do have a good paying full time job (I haven't had to use my money yet), and roughly $35,000 in reserves now. So I'd love to hear good or bad if you think I'm moving too fast, or should alter my plan! Thanks for your advice! Brandyn Milwaukee, Wisconsin, mortgage, financing,

Gregg Willich is a great guy! He actually has his real estate license as well. I've used him a few times, he's accessible, he's fair on pricing and has a bunch of free forms for landlords.

Thank you everyone for the information, and advice!! I miss-spoke when I called it Washington Heights, it's actually at the southern portion of 43rd, off W Martin Dr. So it is about 2 miles from where the riots were taking place, thanks @Mike Lowery for the heads up! @Joshua Martin, I think the confusion of washington heights vs where I was saying is what is he was getting at. But the cashflow was based on current leases and I actually really liked the neighborhood. The neighbors are nice, obviously a mix of college students, responsible blue collar workers, and some young professionals. One neighbor actually came over when we were touring the property because he didn't recognize us (I think that's a sign of a good neighborhood). Only down side I saw to the property is that the land lord obviously hasn't been to the property because the downstairs is pretty run down and gross. And, the ad said it was fully occupied and the upstairs is vacant. I'd almost actually like to take a risk and purchase the property, ask that the current tenant moves upstairs (semi-remodeled, but nothing special) and tear out the downstairs and rehab it myself. But, I'm worried about the time the unit would be vacant, and if I'll be able to rent it if it's done in the middle of winter. Thoughts?

Nathan Schoenborn If the property you're selling is still available, can you pm me the info? That's the price, size, area I'm looking at for a second property.

I'm looking at a house on N 43rd. Do you guys know much about those couple blocks? It's green on trulia, and the houses seemed decent when we drove by it, but I'm sure you guys would have more experience with what it's really like