All Forum Posts by: Account Closed

Thank you both! I'll look into these folks further and see who might be a good fit.

Hello BP & other Wisconsinites/Madisonians,

I've tried a few different CPA's for tax prep the past few years and haven't been thrilled with their RE knowledge, but am now looking for a qualified tax strategist. Specifically, I'm looking for somebody who has experience with RE tax strategies around the RE Professional designation and accelerated depreciation to offset an abnormal tax liability. 

Looking for a recommendation in Wisconsin, preferably Madison, but open to the Waukesha/Milwaukee area.

Thanks in advance!

@Glenn Hoffman I have worked with Home Savings Bank and McFarland State Bank. The loan I mentioned before was 20% down, 4.65% (in 2018), 30 yr am, 5 year ARM. This was Home Savings. Note, these loans are in my name.

Agree, sounds like good numbers. I'd be curious about 1) The location. Is this whole neighborhood riddled with crime? 2) are those numbers actuals or pro-forma? and to Mark's point, how much money will you have to invest into the roof, etc. etc.?

@Matt Heath I got 80% LTV 5yr ARM 4.65% in December from Home Savings Bank in the Madison area. Contact them, they may do properties in your area.

Just took a peek back at one of my recent reports. Total Cash needed at purchase for me is Down Payment. Rehab Costs. Closing Costs. 

It probably also includes loan points/fees, but I had $0 for that. 

It does not appear to include the operational expenses or PITI.For that, I believe you want to go to the "Rehab" tab on the results. And there is "Total Cash Outlay" which appears to the sum of "Cash Needed at Closing" plus "Holding Costs". Holding costs is based on the amount of time you enter for the "Rehab Time".

Hope this helps.

If you are finding properties by driving for dollars and trying to figure out who owns the properties, you can use the city assessors website to look up the owner name and address. Then you can search their name & city on white pages to find the phone #. 

@Vernon Trice III There are many ways, but Brandon Turner actually wrote a blog post about this that I saw recently: https://www.biggerpockets.com/...

@Azzeaz Saleh Some lenders don't require a seasoning period. Usually that's the smaller community banks or credit unions that are more lenient on that term.

I use Cozy.co and it's great. Rent collection is free. I'm pretty sure it reminds the tenants automatically when rent is late, and once past the grace period auto-adds late fee. Double check on that, but I've been happy with Cozy.

Also allows some of the other features such as background checks & rental applications.