All Forum Posts by: Justin Reyes
Justin Reyes has started 15 posts and replied 45 times.
Post: Have you heard about Renovation Raids on Fb in Milwaukee?
- Rental Property Investor
- Milwaukee, WI
- Posts 46
- Votes 63
Check it out. Investors are interviewed at their fix and flip and great information is shared.
Post: What are the best Real Estate Investing meet up groups in/ near Milwuakee, Wisonsin?
- Rental Property Investor
- Milwaukee, WI
- Posts 46
- Votes 63
Go Follow RenovationRaids on Facebook. There is a big meeting up coming up.
Post: Selling 7 Property Portfolio - 100k off of market value! Milwaukee
- Rental Property Investor
- Milwaukee, WI
- Posts 46
- Votes 63
Hey send me the list. I’m an active buyer here in Milwaukee.
Post: I need an investor 30 unit multi unit in a prime location
- Rental Property Investor
- Milwaukee, WI
- Posts 46
- Votes 63
Quote from @Matthew Drouin:
@Justin Reyes the location is outside of my zone of genius. That being said, I’m experienced in adaptive reuse and those types of projects are going to be very dependent upon deep subsidies. Even for office to market rate residential conversion.
And even if you are buying the building super cheap or even getting it for free in that case.
The first form of subsidy would be historic tax credits. Does the building have some type of historic value to it? It doesn’t need to be an extremely old building to qualify. Check with your State Historic Parks Office and get their opinion to see if it would be likely to get a determination of individual eligibility.
If it doesn’t meet individual eligibility, does the subject property exist in an area that has historic fabric? If that’s the case, you could get the area registered and then that building might qualify.
HTC could qualify the rehab expenses of your property for up to 40% in tax credits.
Bottom line, talk to your city and ask which developers have done similar projects to what you have envisioned and meet with those people. They will be the best advisors or potential partners for a deal like that.
Thank you so much for the insight! It is a historic building.
Post: I need an investor 30 unit multi unit in a prime location
- Rental Property Investor
- Milwaukee, WI
- Posts 46
- Votes 63
Hello, I’m looking for someone that can act as an investor and advisor to a potential office building conversion to a 30+ unit multifamily here in Milwaukee, WI right next to the Milwaukee Bucks arena. I’ve talked to multiple sources and came up with about a $3 million all in quote. Once completed, the property should generate between $60-$100,000 a month. If anyone is interested in teaming up with me on this project, please contact me as soon as possible. Thank you.
Post: Sub To finance
- Rental Property Investor
- Milwaukee, WI
- Posts 46
- Votes 63
I’m sure a lot of people heard about Sub To financing. Does anyone know how to do it?
Post: Need help with contracting this potentially GREAT wholesale deal.
- Rental Property Investor
- Milwaukee, WI
- Posts 46
- Votes 63
Hello,
I live in Milwaukee WI, and I know someone that wants to sale them home. The property is not on the market yet and He told me that he wants $280k but I’ve done my research and checked Coms in the area and they all are going for $325k average within a 3 block radius. I don’t want to approach him just yet about putting his property under contract only because I DON’T KNOW HOW TO DO IT😫. Is there an official “wholesale” contract available or template or does anyone want to team up with me and take this deal? I will do all the leg work so out of towners are welcome. Anyone with experience, please message me. Thanks!
Post: Anyone can teach me about wholesaling?
- Rental Property Investor
- Milwaukee, WI
- Posts 46
- Votes 63
@Matt Crusinberry Thank you sir, I will definitely check it out.
Post: Anyone can teach me about wholesaling?
- Rental Property Investor
- Milwaukee, WI
- Posts 46
- Votes 63
@Sean Ybarra I actually do have my real estate license already and would like to know more about your consulting services for sure. Thanks a lot
Post: Anyone can teach me about wholesaling?
- Rental Property Investor
- Milwaukee, WI
- Posts 46
- Votes 63
Hello I live in Milwaukee, WI and I want to know if anyone can basically mentor me or put me under their wing about wholesaling. I know the basic about it but don’t know where or how to start. I just want to learn as much as possible. Even though Milwaukee is a city that’s definitely on the uprise and there are deals everywhere, there are also a lot of people retiring and moving south to get out the cold. The reason I say that is because I work for Molson Coors “Miller Coors” and we have retirees every couple months talking about selling their homes and moving. I’m sure I can get so much deals but I don’t want to approach anyone if I don’t have all the answers first.