All Forum Posts by: Jonathan West

Hi everyone,

Looking at closing quickly on a cash purchase in Milwaukee.

Looking for references for a home inspector that can quickly get into a property and give me their thoughts.

Its an investment, buy and hold, rental.

Thanks in advance!

Jon

@Dawn Anastasi  I've called Waukesha State Bank so far, I sent you a message, any leads I can chase would be great.  Also, I was recommended your book Investing in Milwaukee, I'll be reading part of it today!

@Darren Budahn This delayed financing option sounds ideal.  Do you have any leads I can chase on this?  I sent you a PM and appreciate your input!

@Michael Noto I am interested.  I'll PM you now.

Thanks everyone!

Hi,

I'm acquiring my first rental in Milwaukee, closing with a cash close less than $50,000.

I am looking for a lender that will allow me to do a cashout refi or Heloc against the property post closing.

I would prefer it be based on the properties appraised value or valuation based on income ($1500+/mo) however I'm okay if I can just get a loan based on my cost.

The biggest issue seems to be lenders not willing to lend less than 40k, which based on my purchase price, 80% LTC or less would be less than 40k.

Anyone have any experience with small loans?

I will be buying more property, I am open to keeping all my loans with 1 lender, or eventually taking a loan against multiple assets, which should be more substantial.

Thanks for any input!

Jon

Bryan,

I'd be interested in talking with you.  How can I reach out to you?  Thanks.  My cell should be on my profile.

Jon

I am looking at acquiring a duplex in Milwaukee.  However, there is a 3rd unit (finished attic) being rented to another party.  There is only 1 exit from this unit.  Is this illegal?  Will I be able to get property insurance with this tenant in place?  If I am able, will the insurance be void if I ever have a claim on the insurance? (fire etc)  Lastly, can I be personally liable if there is a fire etc in the unit?  (I assume yes).

Good purchase price, lots of potential issues.

Thanks in advance everyone, so much more to learn here at BP.

Jon

Seeking a referral for a good property manager in the Milwaukee market for out of state investor.

I have family in the area however I am on the west coast.

The property I am looking at acquiring (duplex) has tenants in place, and I am just looking for good property management, eyes on the property etc.

Thank you very much!  Learning very much thanks to this community.

Jon

0-20 units.  Thanks for giving me some perspective.  I have saved a good amount for a 25% down payment and have been prepping a commercial lender to work with me once I find a deal.  At this point, I'm looking for any guidance/expertise on how to make the mailer most effective.  Thanks for your thoughts so far Levi.  Did yours come from direct mail?

Hi everyone,

I'm getting ready to start a direct mail campaign to apartment owners.

My goal is to purchase at least 10 doors in the next 12 months, and wholesale any other deals that don't quite fit what I am looking for.

I'm planning on targeting some smaller markets in states that I think may receive less attention.

Does BP have a tutorial on the best way to start this?

I'm not going to hand write these, I'm going to buy them off a site, maybe yellowletters.com.

I'm looking at melissadata.com and listsource.com

I can budget up to $500/mo for this effort

I will use a google voice number with a recorded message

I have learned all this from the great podcasts at BP.  Is there anyone that can suggest other tips so that I invest my capital most effectively?

This is a very exciting topic to me, however I also know I am not knowledgeable in it, so I'm seeking input.

Thanks to anyone that can assist,

Jon