All Forum Posts by: Stuart Grazier

@Dennis Elverman we buy most of our properties in 53209 and 53218 zip codes. They seem to make really good rental properties. We use the Trulia crime maps a lot to help us stay away from the high crime areas and that helps a bunch. 

@Elaine Chua we love Milwaukee! Tons of growth and lots of great rental properties. Let me know if I can help in any way.

@Dan Miklosz we really like the 53209 and 53218 zip codes. We try and stay away from the high crime areas and we can find some great rental properties in those areas. Property taxes seem to be a bit lower there than other areas in the city which helps with cash flow!

Here's the Eventbrite link for those that want to register: 

https://www.eventbrite.com/e/denver-military-inves...

We don't have it scheduled yet. When are you coming through? I can definitely try to coordinate. We typically do them towards the end of the month, but can adjust as necessary. 

Join us for happy hour at Dry Dock Brewery in Aurora to network and learn how to join the ranks of many other military real estate investors. We'll have a special presentation on a specific topic and will also allow time to meet and greet fellow investors.  We hope to education all active duty, veterans, and their families about the benefits of investing in real estate while serving. This is a free event and open to anyone, regardless of military affiliation.

@John Joey Another strategy that we are using to determine the rent rates is to ask our property management company to give us comparable property rates in the surrounding area and what they would try to advertise a certain property that we are buying. Property management companies will have a really good idea of what things are renting for in a specific area. Sometimes Zillow, rent-ometer, and other sites may be a bit off because they like to use averages and don't know the ins and outs of the local market. Hope that helps. 

Hey Milwaukee! 

I'm somewhat new-ish to the Milwaukee market and I'm hoping to expand my network here. I'm currently buying 1-2 properties a month in an effort to help as many military/veterans own cash flowing rental properties here. Our mission is to help military/veterans get started down the path to financial freedom by owning rental real estate. I'm focused on SFH and 2-4 units that will make great rentals. My business partner and I have built what we think is an amazing team on the ground, but we'd love to connect and meet more people that invest and offer real estate services here. We'd like to scale and get to 3-5 properties a month.

Are any buy & hold investors in this forum? What do you think are the best zip codes for owning rentals? Do you think Racine/Mt Pleasant is a good focus area because of Foxconn? Or are there better areas with better rent-to-purchase ratios?

I'm also looking for local lenders that can help our buyers get long-term financing for rental properties and for doing cash-out refinances when we do the BRRR strategy.

Lastly, are there any suggested local REIAs or meetups? I'd love to join the group if there is an online presence and come to a meeting when I'm in town. 

I look forward to connecting with everyone here. If there is anything I can do to help expand your business please let me know. 

@Account Closed I have a feeling I know who you are buying from and if it is who I think it is, I have bought from the same person and are very familiar with the way he does business. To answer your question, I think that having the seller hold the 2nd position (if it's who I think it is) is a good thing because it's in his best interest for the note to perform as well. If it doesn't perform and it ends up going to foreclosure, he will probably just buy you out of the 1st position if there is equity in the deal and it makes sense for him to do so. If it doesn't make sense, he will just walk away from the 2nd position because he didn't put much money into it to begin with. So, either way you will at least get your money back. 

The way this investor does his business is that he will buy the note package (both the 1st & 2nd position) at such a combined discount that he can then sell off the 1st position at 75% LTV and hold onto the 2nd position for very little (or zero) of his own money. The price he sells the 1st position will be close-to, or not more than what he paid for the combined 1st & 2nd position notes. He basically ends up getting the 2nd position note for free.

If you want to discuss more offline about the particular seller, just let me know.

Note gurus,

I quite regularly receive private lending opportunities and/or offers to purchase performing notes, but I often don't have the capital available to do all of the deals that come across my desk. However, I know of others within my network that may be able to do the deal. Instead of just passing on the deal because I don't have the funds at the time, I'd like to find a way to get paid by connecting other folks within my network to the deals that come across my desk. Is there a way to legally do this? Do I have to get a brokers license? How could I get paid some type of commission for putting the two together? Is there a way to wholesale a private lending deal? Or could I just write into the note purchase agreement a commission for connecting a private lender with an investor like a Realtor would on a house purchase? Lastly, can I advertise the opportunities on a separate thread via email and/or website forum (i.e. a closed group real estate club) without breaking any SEC laws? Thanks in advance for the help.