All Forum Posts by: Jeff Stein

@Joshua Tan

An umbrella policy you can just add on to you own insurance. Are you planning on hiring a property management group because they will have some liability insurance.you may just be able to use a agent where you live. I have 2 agents I use in Milwaukee. Let me know if you still need an introduction.

@Lou Burnett

Welcome to BiggerPockets and Milwaukee investing. There are a few meet ups around the city that I have heard of, but haven’t been to any so I can’t really recommend any specifically. My recommendation is to start with a goal and work backwards of what you need to do each day or week to accomplish in your time frame. After that you need to start analyzing lots of properties.

Feel free to reach out if you have any specific questions. I am not the most seasoned expert in real estate, but happy to help.

@Michael Cot

It depends on ownership. Who gets the money if you sell the building? If it is split 50/50 then you also split the depreciation that way. If you have 100% of the ownership of the building, but their name is just also listed on the deed, you can take 100% of the depreciation.

@Brandon Palmer

Commercial real estate is a big space with many different categories. If you narrow to just office space we are talking about a much smaller niche. I personally like small office space for small business. 260sqft to 2000sqft. I am trying to buy up any good deals in my area. Of course like somebody said, medical and dental offices are great spaces to have for long-term stable tenants, however they are much more difficult to get especially depending on your location. I think it is the very large employers and high rise A office buildings that may be a little tight for a while.

@Brie Schmidt

I have one property only in that area, but use duarte landscaping and have been very happy with their services.

@Max Ratner

Getting pre-approved for a mortgage is just about going to a bank and meeting with the mortgage lender. You will need to provide your financial info for them to give you a letter.

@Henry Hogeterp

I used cozy.co for a while which is now apartments.com which I thought was really good

@Jonathan Hayek

I think you have the right idea. I own one building very similar to what you mention and under contract for another. One important thing to identify is how they got to 700k price tag. Commercial prices are directly tied to the income it produces.

Only 2 tenants may not be enough to cover your expenses for a building that size.

Let me know if you have more questions. Happy to help.

@Mark Calivas

An LLC may be better than a corporation. After that I would follow up with a operating agreement. 

@Jorge Ruiz

Great idea. I didn’t find somebody, unfortunately little more than I would’ve spent on the previous inspector I knew, they do a good job I’m always willing to pay for value. Joining the Facebook group is always something on my agenda, but always find a way to be too busy.