All Forum Posts by: Brandon Stevens
Brandon Stevens has started 4 posts and replied 137 times.
Post: Looking for wholesalers in Milwaukee Wisconsin (southeast Wisconsin in general)
- Investor
- Lexington, KY
- Posts 139
- Votes 100
Any wholesalers in the MKE area please PM me so I can be added to your mailing list as well. Thx
Post: Diary of a $3,900 house ... wait, what? $3,900, yes that's right!
- Investor
- Lexington, KY
- Posts 139
- Votes 100
Great job @Dawn Anastasi keep it up. I will be in MKE next week to get a scope together on our two newest properties and look at a few more. PM me the address I'd love to drive by.
Post: Moving back to Milwaukee
- Investor
- Lexington, KY
- Posts 139
- Votes 100
Welcome buddy great time to invest im MKE. Id just say spend the $ on the location..... youll be thankful you did 10yrs from now.
Post: Looking for Property Manager KY
- Investor
- Lexington, KY
- Posts 139
- Votes 100
Jim
Assurance Realty (Ann Wesley) rents office space down the hall from me and manages a number of my properties. They have always done a good job for me.
Assurance Realty & Property ManagementCompanyMember of the National Association of REALTORS®
Lexington, KY 40503
Post: Door County vacation rental condos -- why so cheap?
- Investor
- Lexington, KY
- Posts 139
- Votes 100
So much negativity about condos thats simply not warranted. Some of our best cash flow properties are condos. While i dont know much about that particular area, when it comes to condos it still just comes down to the numbers and tour investment goals. If the numbers work i wouldnt let someone talk you out of one.
Post: "2% rule" cities? Or should they be called, "Cities that Americans are Ditching?"
- Investor
- Lexington, KY
- Posts 139
- Votes 100
Indeed the article is misleading only because there are 100 different reasons people are leaving and "ditching" was simply a poor choice of words. I personally like the long term prospects of milwaukee for a number of reasons.
Post: Looking for portfolio lending - Wisconsin
- Investor
- Lexington, KY
- Posts 139
- Votes 100
Originally posted by @Rob Myers:
On a related note, I've been working with a Milwaukee area lender who sells their loans to Fannie Mae but still services in house. I am in the process of a cash out on a property I bought at auction last year and was told fees assessed by Fannie Mae for investment properties are going up for loans closed starting in September. No specific number but they hinted at about a point across the board once you are in the 5-10 property range and down payment thresholds moving from 25% up to 30-35%.
Thanks for your input Rob, were you able to build enough equity in your property so you could cash out all of your original investment and rehab costs?
Post: Looking for portfolio lending - Wisconsin
- Investor
- Lexington, KY
- Posts 139
- Votes 100
Originally posted by @Ralph R.:
I have been preapproved for a loan from The Equitable Bank in Milwaukee. Here is some info they sent me.
"On the in house loan we would do 20% down and we offer a 3,5 and 7yr ARM.
3yr- 3.25% with .50pt plus $1750.00 in closing costs
5yr- 3.25% with .50pt
7yr- 3.75% with .50 pt"
Thanks billy bob those are great rates for an in house loan ill check into that. Do you have a good contact there?
Post: Looking for portfolio lending - Wisconsin
- Investor
- Lexington, KY
- Posts 139
- Votes 100
Great discussion, im also searching for a portfolio lender who will lend on Milwaukee property. We are cash buyers who just purchased our first home there (we own more in KY) and would like to purchase 3-5 properties per year around the 50-60k each range, rehab with our own $ to achieve ARVs around 70k-90k and then cash out into a portfolio loan. Any contacts would be greatly appreciated!
Post: Contractor/ Investor partner up
- Investor
- Lexington, KY
- Posts 139
- Votes 100
@ Bryan C. It would be a tough sell if you your implying your trying to flip from a far. Your basically giving away some of your profit to incentivize a contractor to do a better or quicker job by cutting them into the back end payday. Is it worth it to give up your profit just to pay them to do their job? Possibly being a hard money lender with a % for you on the back end based on the profit might work?