All Forum Posts by: Daniel Gray

Another thumbs up for Blue Frog they are fantastic and my unit has been a pain in their $*@&

I concur, I just bought a duplex in green bay and was looking at a few triplexes.  If you buy one for $40-70k, you'll have to likely burn it down and start over.  The duplex I bought that cashflowed was 63k and it was a guy who had cancer who needed to sell quick.  The other 30 duplexes/triplexes were dumps...

I also second the motion on concealed carry Green Bay has deteriorated very rapidly in the 10 years I've lived here. 

There were some very very nice DUplexes for 80-90k range getting 15-1600/mo rent between the two units. Start looking around on rentmeter and the MLS before moving that far. If you get serious Kathy Feldhausen was my realtor at Coldwell Banker and she was AWESOME.

For the record I haven't used anybody else in GB so there could be better, I am not trying to cast aspersions on other companies, I just don't know anything about them.  I work 14hrs a day usually 6 days a week and besides the "wondering what's going on"  they've been great.

I can tell you what they charge me... They take 10% of my rent (they mentioned it can drop to as low as 6% if you have "lots" of units, I have only one piddly duplex).  They charge $125 to advertise and insert the tenant (they showed the place 12 times, negotiated the lease and the only fee was that $125, no hourly labor).  They charge a $75 lease re-up fee at the end of the term, They charge $35 per hour labor with a minimum of 1 hour.  On the weekend/afterhours their fees go up to $55/hr.  Then obviously you have to pay for the expenses (the plumber fee they paid, etc).  

Hi Jack, 

I bought my first property in June, so my experience is not extensive.  However, I have been extremely happy with Blue Frog Property Management.  The only complaint I have is they don't communicate well for a newbie at least.  They just take care of things.  Let me explain...  I was looking at my online portal and it looked like nothing was happening for weeks... then all of the sudden the information was recorded and it was obvious they had been very busy getting ready my vacant unit, then no information... then all the sudden boom there was a tenant in there.  I was hoping to get $600 for the unit since that's what my cashflow calculator indicated... they got $710, it took 9 nerve racking weeks but those few extra weeks got me $110/mo more than I would have asked for, so I'm glad I didn't ride them hard.  During the 2 months I've owned the property there was a leaking toilet seal and backed up drain, they took care of it w/in 24 hours and the cost was very reasonable.    Hopefully that it's clear what I mean in that they don't communicate well... they do get the job done they just don't announce it.  

Hey Corey, 

I'm in Green Bay and am in the same boat.  I finally found a duplex that cash flowed on the west side of Green Bay.  The funnel concept they talk about is true... look at 100 deals, make an offer on 10 close on one.  

I looked online at over 100 single family houses and duplexes.  I utilized rent finder, and the BP buy and hold calculator to run the numbers on all these deals.  I physically visited over 30 homes (ruling out the other 70 with the calculator) , made on offer on 3 and will close on 1 June first.  Rent is REALLY low compared to asking prices on single family and duplexes hear in Green Bay, I was only working with $20,000 cash so my options were limited against more than a duplex that wasn't a total pile of rotten sticks.  I got it done but it takes a lot of work, preparation and reading.  I agree with the previous statements... the only reason I could stomach the hours of analyzing and visiting "no-good-deals" was the perspective provided on BP. 

Good luck I also am just getting started as of the first of the year.  IF the inspection goes well my first duplex should be bought on thurs.. we'll see.  

Definitely don't have the cash for retail or commercial yet... hopefully someday!  Good luck all!

Welcome, I work in green bay and and starting to get into multi-family rentals, I have noticed at least in Green Bay that the expected rent is much lower than what I need most of the time to get good cash flow, that's without putting any money for repair, so I second the be careful, however take that with a grain of salt, I'm just getting started.  The availability of good (cash flowing) deals is far less than I expected.

As someone who works on the East Side of Green Bay I'd rank most of the North and Central East side as C and D properties with a bearish outlook.  Unless you are on the east side of the bay where the university is.  

I am looking to by SFR and duplexes in the Green Bay Area, let me know!