All Forum Posts by: Michael Henry

@Erin M. there is a lot of good option for long-term real estate investing. I would be happy to discuss the many options there are if you like.  Is it ok to message you? 

@Vong Lee BP will be a good source of information and know-how. You will be able to avoid the pitfalls by asking a lot of questions. It will be harder to lose money on a buy and hold but it will be very easy to lose money on a fit and flip. I would advise you to partner with an experienced rehabber on the first few flip opportunities. You will be able to provide money (down payment, loan) and time to the project. Wausau has a local REIA where you will be able to find out who is active in the area.

Use BP as a check and balance on the information that partner, realtor, and friend is telling you. 

Best of luck

@Chaz T Johnson Milwaukee has many great real estate networking groups. You will be able to find a lot of help from people if a problem arises. 

Distressed 3/3 duplexes are hard to find if you are looking to live in a more desirable area.  I have added a link with properties from $50K to $150K to give you an idea of what is out there and how much money you would have to send based on where you want to live. I hope this helps. 

Follow this link to see the page:

MLS Link

This link is valid until 2/1/2019.

@Steven Nitschke I would love to do some project management pro bono to learn the process. Feel free to reach out to me at any time. 

@Bradley De comarmond I would be interested. 

@Nikhil Badwaik good luck and remember the BP community is here to help if any problems come up along the way. 

@Account Closed  Let me know if you want me to make a formal introduction. 

Best 

Yes, you are right that FHA-203K exist and I have experience working with clients and lenders using that product. The problem is that in the Milwaukee market, at this moment, time is of the essence and this product takes more time to close. Therefore, the likelihood that you get winning offer (without overpaying) is low.

Look for someone to mentor you that is active in the business. You will be working for little to no money for the education and skills that you learn will pay dividends manyfold. Search this person out by going to real estate clubs and networking events. Asking a lot out questions and be willing to work. 

@Account Closed feel free to reach out to me if you need an experienced real estate broker and Boots on the ground. I might be able to help if problems come up.