All Forum Posts by: Michael Henry

@John Zhao what is interesting about Milwaukee is that we have high rents relative to the purchase price. Where as many other midwest markets have low purchase price the rents are much lower. 

@Lucy Vang cash is king. Keep stalking that paper! And welcome! 

@Kole Kingslien welcome to BP you have come to the right place. Do you own your home already? If not, house hacking is the way to go and there are many different ways that this can be done. The biggest drawback is the potential life style change but if you and your wife are willing to make the sacrifices, there is some money to be made. 

Secondly, $20k is a nice down payment on a rental. There are many banks and credit union that have different down payment requirements. If I was you I would start at a financial institution to see how much you can get approved for. 

@Darren Liedtke welcome to BP and don't be afraid to ask a lot of questions.  

@Michael Lange I agree with @Rebecca Knox I think you paid too much. There is a lot of help on BP to be overpaying. With that being said, I did a quick search on MLS and came up to two properties.  Are these the ones that you found? If so, I would try a different bank because appraisals are very subjective. 

Good luck

Welcome to BP. This is the place where all your questions get answered. So don't be afraid to ask a lot of questions.  

@Nick Bleser your cash flow after debt service point on it you are running your numbers right. I wouldn't say you can find better return at this time but the deals are few and far between. 

@Michael Lange I'm interested to know the location of the property you purchased. Did you put any money into it for forced appreciation? Please share with us if you are able to find a lender.  

Once they announce the location everything is more expensive. The real money is being made while we speak. 

@Kyle Mack Good job on this!