All Forum Posts by: Matt Heath

Hello everyone,

I am looking for a wholeseller to find a single family home in Menomonee Falls, Germantown, Butler, Waukesha County, Lannon, Or Wauwatosa. I would look to live in property for a year. I want to rehab and flip it after a year. Please let me know if you know anyone in the area! Thank You!

Hello Nathan,

Thank you for reaching out. I would love to discuss with you the possibly of working together.

Hi Dawn,

Thank you for your reply. I realized that the best way for me to get into commercial multifamily is to buy a place that has value add (mostly low rents) and fix up each unit and increase rents. Who is the person you work with? I am Leary to work with a contractor since I have heard bad stories and have had a bad experience in the past.

Hello everyone. I am looking to network with a contractor who would consider partnering on multifamily deals. My plan would be to find a multifamily deal 16+ units that has lower rents, renovate the units and sell the property after a couple of years. Does anyone know of someone like this? 

The seller wants to meet this weekend to go over the details and view the property.

Hello,

I would like people's opinion on a deal that I have going on. I know a seller who has been trying to sell his 4 unit apartment for $254,500. It has been on the market for almost a year. The seller wants to do a land contract for  $250,000 with 10 percent down and a 5 percent interest rate over 30 or 25 years. The property brings in $2,370 a month for rent, taxes are $4,500, insurance would be around $1,200, Property management would be $160 a month. The units are three one bedroom, and one three bedroom. 

The seller mentioned that after two years I could refinance the property. I talked to a bank and they stated that I would need 25 percent equity in the deal to refinance. Is this looking like a good deal? It would be roughly 20 percent cash on cash return but would I be able to refinance this in two or less years? 

Hello everyone, I am stuck deciding what the best strategy would be to grow and expand. I own one four unit property I bought for $193,500 and it is worth $260,000. The loan amount is under $185,000. I have 35k in the bank and 15k for reserves (10k for this 4 unit and 5 for my next purchase so far) I want to get into commercial multi family apartments but I am not sure if I should take a loan out on my four unit to do so. The bank said they could do a loan for 6 1/2 percent on my equity. They offer balloon loans 20 percent down, 61 month and then the note has to be paid, refinanced or sold. This is up to 25 years max. What are some of your opinions?

Thank you for your input.

what do you consider c and b areas? What about a areas? 

#Jai Sookhakitch 

Thank you for the info! Do you know any local whole sellers off hand? 

Would I be able to use hard money to purchase a property and then use the income from the property to pay of the hard money? Anther words, can you use hard money for part of the downpayment? 

#Jenkins Ramon

Do you know of any 4 units for sale in a good area? What is a typical 4 family price and what are the rents? I'm not too familiar with the Milwaukee market. 

I will have to check that out! Thank you! was considering partnering with someone at 50k each. and going 50 50 on a deal. 

Would it be better to build up a small portfolio of 4 family's before going into larger deals? 

How do I go about finding a broker in Wisconsin to talk too for deals? I don't know where to look up commercial deals to analyze them.