All Forum Posts by: Jared Tillery

This is fantastic.  Thank you for the help @Brock Mogensen, @Marcus Auerbach, and @Rebecca Knox. Im am definitely interested. This is the first I have come across Brew City REI. Ill add the October event to my calendar.

Hello all,

Looking to find out what Milwaukee area meetups are happening routinely. Ive seen mention of BP monthly meetups, multi-family meet-ups, and some networking but Im have trouble finding more specific info about when these groups are meeting.  Hoping to get some help.

Investment Info:

Small multi-family (2-4 units) buy & hold investment in S Milwaukee.

Purchase price: $100,000
Cash invested: $7,500

Upper-Lower duplex with detached garage. Upper unit = 700 SF. Lower Unit = 950 SF
Located in C neighborhood

What made you interested in investing in this type of deal?

First interested to house-hack to save money during school

How did you find this deal and how did you negotiate it?

Found on MLS and negotiated with REA down from $115k. Market Value was about $120k

How did you finance this deal?

FHA 203k loan

How did you add value to the deal?

Worked with REA to see comps

I have a ceiling and wall repair I am making in a unit. The tenant has become very difficult to deal with. I have sold her repairs we be ongoing and people will stop by periodically. We said we would giver her as much notice as possible. She posted a sign saying she must be notified before the may enter and attempted to lock us out of the unit. She is now saying she wants an attorney but I have not been contacted. Do I have the right to enter as I need and do repairs? This is in Milwaukee WI.

I had an AC clog causing a water leak in the ceiling. The area has been demo'd and water mitigation is running dryers. The unit is able to get Dow to 75 degrees with the AC running. I have already given her $250 off her rent for the month, said will work with her to cover the extra costs of utilizes. She is claiming her dogs have asbestos poisoning and the unit is to stressful to live in. (Tests for asbestos came back negative) My insurance and water mitigation disagree. She has renters insurance but they said they won't cover it. She says she is going contact an attorney. She posted signs on her door saying no one may enter without giving her notice which I have already told her daily repairs are needed and we will give her as much notice as possible to when they will show up. Her father tried to call and have the dryers removed prematurely. The dryers are a little noisy and large but do not prevent anything. I need some help. I have lost all patience with the tenant. If I need to do repairs do I have the right to enter as I need? What can I do to make her cooperate and quit harassing my wife and me?

I just got a call back from a FSBO with a four unit apartment. It values at about $235,000. Is willing to do owner financing if I agree to $240,000 and can try to make a 25% down payment. ( $1000/ mo. payment to owner) The units are in good shape and the building needs approx $1500 in repair. The units pull in $695, $695, $620, $620. Total: 2630/mo. No cap-ex costs are needed for at least 5 years. Operating costs I try to estimate somewhat conservative= $1000 a month. My goal was to achieve $100/ door in cash flow.

My trouble is that I do not have the down payment capital and I dont meet the requirements for a traditional loan for the $60000 ( since they only count 75% of the rental income and with my current loans i would be over the 43% ratio).  I am looking for some suggestions on how to make this deal work.

I am a project engineer working for a national developer.  We are doing some research on finding the average on time completion percentage for multifamily projects over $20 million dollars.  For example, 92% of multifamily projects finished on time for a firm or in the industry, 4% are completed 10% over schedule and 4% completed 20% over schedule.

Does anyone know of some reliable resources that may be able to provide some information?  I have already checked with the Census and BLS.

Anything might help.  Thank you.

Hello,

I work for a developer building apartment projects all over the US.  We are looking into switching to modular construction to shorten the construction process.  I am trying to find some hard data on such things as square foot costs, permit requirements when building out of state and scheduling comparisons.  I am having a hard time getting responses from some companies.  Does anyone know of some modular firms that would be able to build approximately 2000 units annually and ship to most US areas?  Or, do you know of any reliable resources I may be able to go to or contact for some of the data I am seeking.  Thank you.

Thanks for the help everyone.  Im going to give Mr Atty Pettit a call, he sounds like the kind a resource I need in my corner.

I am looking for a real estate attorney in Milwaukee that has experience and can draft a subject-to sales contract.  I have called some firms but so far no luck.  Does anyone know of one that may be of help?