All Forum Posts by: Sam Erickson

@Jeff Konig do a search for Milwaukee, and set it up as a keyword if you haven't.  You'll find lots of topics on your question above and find that it seems like the whole world is either already investing in Milwaukee or is interested in investing in Milwaukee. 

Hi @Dan Bunch welcome to the site.  I'm also a broker/investor.  There are a lot of other Milwaukee investors and agents around the site.

Hope to see you around.

@Alexander W Reum welcome to BP!  We completed a flip this year in St. Francis, I like the area a lot.  West Allis is a great rental market as well, lots of good cash flow there.  

If it cashflows at the purchase price I would put down as little as the lending bank requires. If you have to buy cash flow through a downpayment I would take a second look at the deal.

@Michael B. welcome to the site! Lots of other Milwaukee investors here. 

Hope to see you around!

@Michael Seeker I hear you, Milwaukee made the bottom of the list too.  For me though its a little bit of a double edge sword. I've kind of gotten used to all the out of state calls from investors looking to buy :)

@George Smith  It sounds like your past the stage of when an agent is most needed (finding, showing, offer, etc.)  I think the items your probably worried about are the items the title company takes care of.  Are you looking to complete the transaction with out a title company as well?

I personally think a title company is well worth the cost. 

Hi Everyone,

Below is my To Do reading list (no order). Many of theses I know I probably should have read 7 years ago before I jumped both feet into Real Estate Investing.  That being said I'm looking to catch up on some of the must reading that I hear talked about on the podcasts. 

The Millionaire Real Estate Investor

The E-Myth Revisited

The 10x Rule

The 4-Hour Workweek

Getting Things Done

The ONE Thing

Rich Dad’s CASHFLOW Quadrant

So I'm wondering for those of you who have read all (or most) of the book would you recommend a certain order?  Or at the very least a must read first?

Thanks for your thoughts.

I licence is worth it if you plan to do at least a few deals a year, anything less then that and you'll probably just cover costs for being an agent, MLS fees, dues, insurance, etc.

It used to be that you could get your agents licence and then turn right around and get your brokers.  Its the brokers license you want, no commission splits. However I know in a lot of areas they have changed the requirements of getting your Brokers.  Now you pretty much have to work as an agent for 2 years before your "qualified" to be a broker.

Keep in mind when your an agent you have to work for a broker and all those commission dollars you'll save/earn will be shared with your broker.  When your new the commission splits will most likely be heavily favored to the broker.

I still like the licence strategy buts its become more of a long game strategy It will take a few years to see the full benefit of it.  Also it may be a hard pill to swallow when you have to give a large portion of your saved/earned commission to your broker, especially when its your own deal.

If the numbers make sense and the seller is willing to make repairs and provide you an opportunity to inspect afterwards, I don't see where the issue is.  Here in Wisconsin foundation repairs are done all the time during a transaction.

The structural engineer's letter will most likely be worded to limit most of his liability.  I would switch my focus to the parties that the seller is going to use to make the repairs.  Make sure they are qualified, and if possible have them provide a warranty.  Also make sure you require the sellers to provide you with copies of the paid invoices, and lien waivers.