All Forum Posts by: Brant Jones

@Rocky Jones, talk to Kelly Jensen at Guy Lloyd, Inc. They service only the Racine area and we have been pleased thus far with their service of our properties.

@Michael R Fox Milwaukee area

@Darren Budahn Thanks!

Can anyone recommend a reputable, local broker/lender in Wisconsin that specializes in investment loans?

@Daniel Hanson great information! I will be in the Milwaukee area the first week of October to meet with prospective PMs, and to perform some due diligence on neighborhoods where I want to invest. Have you settled on a PM yet, and if so, are you satisfied with the results thus far?

Does anyone else have a recommendation for a PM more local to the Racine/Kenosha area that they have personally worked with?

Thank you @Jay Hinrichs and @Account Closed

Welcome to BP, Andrew, and thank you for your service! I am looking to buy property in southeast Wisconsin in the next month myself. Best of luck!

@Nicolas Conca I currently only own one SFR in CA, which I picked up off-market in my area, and it's been a great property that has experienced great appreciation in the last two years, along with solid cash on cash returns. However, you are correct that deals like this in CA are unicorns, which is why I am now looking out of state.

@Account Closed Did you have an attorney in CA or TX set up your series LLC? Do you use a CPA in CA or TX? Completely agree that living in CA has its disadvantages when it comes to taxation and investing.

I live in CA and so far have only owned rentals in CA. I am looking to invest in small multi-family properties out of state (WI and/or IL), 50/50 with a partner, for better returns, and am curious how others in CA are structuring their legal entities (i.e. LLC in CA or the state in which you invest), and how investing out of state affects your tax situation (i.e. do you pay income tax both in CA and the state in which you invest, just CA, or just the state in which you invest)?

Buying a foreclosure without cash in hand is possible, but will require some creativity, such as partnering with someone with cash to acquire it, then turn around and sell it to you for a small fee. IMHO, buying a pre-foreclosure will be more challenging because you will be dealing with bank approvals, which can take months, most of the time these institutions will favor cash buyers because there is less risk, i.e. your financing will not fall through at the last minute. Find someone that has done these types of deals before and look for ways to add value to their business, and you will learn a lot along the way. Best of luck!

@Dylan B. I refinanced it last year and pulled out the 10k I put into the property, leaving only my initial investment still in the property, only because the appraisal would not support taking out more cash. At 75% LTV I could pull out another $40k, which would return all of my initial capital invested, plus some. Have you worked with any lenders that offer HELOCs on non-owner occupied properties?

@Carlos Altamirano I totally agree 17% is good, but I always ask myself "compared to what?" and like the numbers I see when evaluating out of state multifamily deals. It's been a great investment but I am definitely leaning toward the 1031 path.