All Forum Posts by: Michael Lange

Michael Henry The property I purchased is in the Lincoln Park neighborhood on the northside. It's right off the Lincoln creek parkway. It's 2/1 810 ft.². I paid 39K for the property put in 23k in rehab so I have about 63k Allin. It rents for 900 a month. My appraisal came in at 45k after providing the appraiser. Scope of work and comps we used value the property. The biggest issue was foreclosures and lack of comps. I feel 65k is fair based on the cash flow, but I'm just trying to figure out what my next next step will be.

@Cal_Rohrman, I just started investing in Milwaukee also. I live in Madison about 70 miles west, but my day job is in Milwaukee so I've learned the neighborhoods pretty well. Like the other members have said, the 30 to 40K price range is generally C or D neighborhoods. Sometimes good cash flow, but high turnover. I'm investing in 3/1 SFH in the 60k to 120K price range in B or C neighborhoods. With a solid property manager, I've had no problems finding and keeping tenants. My properties usually rent for about $1000 a month. There is great ROI in Milwaukee, but like any market, you really have to do your research on neighborhoods.

Hello BP members. I'm looking for advice on how to refinance a SFH in Milwaukee. I purchased the property for 65K, but the most recent appraisal came back at 45K due to so many foreclosures in the neighborhood. The cash on cash return is around 11%, The property has been fully rehabbed and I've had tenants in place since April, under professional property management. I'm looking to continue growing my portfolio, but I need to pull as much capital out of this property as I can. Are there any lenders out there who will lend solely on cash flow?

Hello BP community,

I'm hoping someone can give me a good answer to this problem.  

I've located a vacant house near me, that I would like to buy, however, I can't find the current owner's contact info.

The owner died last year and left the house to family.

I have a Tranfer on Death deed with Names only, but no contact information.  What is the best way to find the contact information for these heirs?  The property has a reverse mortgage as well, and I would like to contact the owners before the bank forecloses.

Would a skip tracer be my best option?

Hello everyone! I'm a newbie investor, interested in the Milwaukee market and surrounding areas. I'm interested in SFH Buy and Hold opportunities, and am also looking for wholesalers in the Milwaukee area.