All Forum Posts by: Brock Mogensen

Good deals are hard to come by right now but they are out there.  Expect to look at 100 deals to find one that works.  Broker relationships are key to finding good deals.  Off market lead generation (direct mail, cold calling, etc.) are great as well.

The Milwaukee area is a good cash flow market. There are good opportunities for deals in that size in some of the tertiary markets surrounding Milwaukee.

@Adam Chmielewski A mortgage broker will guide you through all the questions you have on financing. Definitely suggest using one on the first deal.  I'd say the best way to find a good one is through referrals.  I can connect you with one I've used if you'd like.

The main thing to ensure is that it will cash flow sufficiently once you move out.  If you can find something that cash flows while you are occupying one side, then that's truly a home run deal.  Rare to find but they are out there. 

Great deals can be found in that size range if you implement some off market lead gen systems like direct mail and cold calling.  That being said, you still want to establish relationships with local agents.

Using Google to research market rental rates has always been my go to. 

I live and invest in the Milwaukee area.  Partnership is the model I've done and it's allowed me to scale much quicker.  Bigger deals offer greater economies of scale like property management and software solutions. 

I recommend connecting with a good mortgage broker.  It's well worth the broker fee in my opinion, especially with a loan like this.

Sounds like you have the right idea of looking at other markets.  I invest and live in Milwaukee, it's a good cashflow market if that's what you're looking for.  With that amount of capital I suggest looking at bigger deals (5-10 units).  Larger deals will allow for better scale with out of state management costs.

Sounds like a great deal, congrats!  Scaling up to bigger deals is always nice.

Partnership would likely be the best option.  Seller financing happens but it is a lot more rare than most books will tell you. I've found partnerships to be a great way to scale!