All Forum Posts by: Scott Schultz

@Matthew Srnka know that an educated seller would never agree to a contract with any "assigns" in it, and is not allowed for most REO sellers, there was a time when this was common, pre 2008.

Be very careful wholesaling in Wisconsin, it have been viewed by the licensing board as practicing real estate, or brokerage, and people have been charged with practicing without a license, unless you are licensed, then disregard, also you must completely understand the legal side, there have been cases of "wholesalers" being charged with equity stripping, AKA illegal flipping, in Wisconsin, the courts are not friendly to no added value for a profit, so if you are not taking ownership, be careful. 

Here is how i do it, We REQUIRE renters insurance, if they can get it insured with the dog on the policy, I have no problem with it, problem solved

@Owen Dashner the ones you have with State Farm, are they in your personal name? I have a friend that is an agent for them, he said they cant touch mine because they are in LLC's, and would have to be at replacement cost, which in a lot of cases would be double market value

@Jordan B. my newest was built in 2003, oldest would be late 1800's doesnt matter, its based on value, not replacement cost, many of mine have higher value than the insured amount, but would cover my investment, and cleanup if i had a total loss.

I have Auto Owners, my properties are in LLC's it is a home owners policy with Landlord Risk, i have $5K deductibles, and they insure on property value, up to about $70K is $256/year or $350/year if it has a solid fuel heating unit (wood burning fireplace or stove) we have 18 properties spread over 2 policies, I regularity discuss with my agent if it is adequate, and she assures me it is more than I need.

@Thomas Greeley  Welcome to BP and FDL, I am a Broker, turned investor (still licensed) I now live in Kewaskum, but had a Brokerage in FDL from 2006 to 2014, i did a little business with @Chad Nagel over the years, solid advice guy, He will vouch for me as well, if you need help, either on deals, or Brokerage, I would be happy to help and share my experiences. 

in my opinion, if you have waited this long wait and save a little more, the concern of a market dip is on many peoples radar, me included, the time you wait will make you lots more money in my opinion, but be ready to buy when everyone else is selling

Thanks @Tony DeLorenzo I contacted them, and they do not service Sheboygan, they are kind of expensive anyway

I am adding 2 properties (3 unit and an sfr) to my portfolio, in a new market for me and am seeking a PM, I have called and emailed several, no one gets back to me, except a guy that no longer manages for others, Properties are in Sheboygan WI any recommendations other than Blue Frog?  

Im generally getting $300-400 after all expenses including debt of no more than $60% LTV in northern WI