All Forum Posts by: Kat Rathell

@Dawn A., hopefully not often!

It is our first one in 2.5 years. We are just trying to do things ourselves that we can do, realistically, since it is a valuable learning experience. Knowledge is power in any industry, especially this one.

@Nathan Grubb, thank you!!!

Will obtain Power of Artorney asap.

Is it as simple as filling it out and notarizing, or does an attorney have to be involved?

Thank you!

@Latisha Douglas, any way you can reach out to the abandoned house owners and buy them?

@Latisha Douglas, first of all, best of luck!

Despite what some are saying here, C/D properties are a good investment, provided the following:

1) you make your properties into something people would want to say in long-term, so they feel like a home (which is an initial investment),

2) screen applicants well (despite popular belief, plenty of normal, hardworking, honest people do love in C/D areas, all you need to do is wait for the right tenant when you are screening),

3) figure out a way to do cheap maintenance (Craigslist handymen are a hit and a miss, but it never hurts to try).

As to single mothers with kids, they comprise the majority of our tenants, and they are excellent tenants! We don’t discriminate either way, but they are a category we enjoy!

@Jill F., I appreciate your voice among those claiming that instant evictions are the way to go.

Tenants are people that run into issues every now and then. Treat them like people and don’t stress them out unduly, and they will respond in kind.

Not to take it too far and be taken advantage of, but if the 1st of the month falls on a Sunday, we do not mind waiting till Friday to get rent, and none of our tenants are behind on their rent, except one, but they have bigger problems than rent.

The Milwaukee Small Claims court has a nice set of resources, including forms, available, but the Summons and Complaint form seems to imply that only the plaintiff (landlord?) or an attorney can file it (there are only 2 choices).

Can somebody else file this form on behalf of the plaintiff? For instance, my husband owns our rentals, and he is listed as a landlord on our leases, but it is more convenient for me to file while he is at work.

This is our first eviction, and any advice or resources on the subject would be much appreciated.

Thank you!

@Adam Hoffer

Thank you so much! I have seen posts on this forum that implied otherwise, so I appreciate the clarification!

After reading the Wisconsin regulations on serving the 14 or the 28 day notice to vacate on a month-to-month tenancy, I am still confused on the following:

Does the notice have to be served on the day the lease term begins or ends, or does any day work? If it is any day, does the 14 or the 28-day period begin immediately?

Thanks in advance!

@Paul Barbeau, thank you for taking the time to respond! When I see an investment LLC as the owner I wonder if they bought the house and ran out of money, or they discovered something about it they weren't prepared to deal with.

Does anyone avoid vacant homes held by LLCs just because them being vacant likely indicates a serious issue?

Thank you!

I have been trying to look for our next C-class property in Milwaukee, WI by driving around and checking out vacant homes - owner information, etc.

I have found a few in the areas where I am interested in buying, but upon checking it turned out that some of them are owned by investment LLC and some - by out of state investors with property management companies as their registered agents.

I'm fairly new at this, so I was wondering why would an investment LLC or a property management company keep a property vacant for an extended period of time, is this some ‘vacant' buy and hold strategy that I'm not aware of? Those properties are not in areas that appreciate it so I would not expect equity to grow, if anything they may depreciate overtime.

Any advice on the subject would be very much appreciated.

Also, is approaching an investment company or a property management company with a purchase inquiry any different than approaching an individual?

Thanks in advance