Discussion on investments in Milwaukee
Discussion on investments in Milwaukee
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In the same context - many of my investors are afraid of properties with major renovations. Although at the end of the day - the final product you get is better (because most of the property's infrastructure is upgraded).
In such a situation I often purchase the property myself. Renovates it, rents it out, stabilizes it - and transfers it to another investor who did not want to take the risk himself.
Of course my time, the money I invested in the property and the very fact that I took the risk on myself - is worth the money.
But the investor gets a lot of quiet for many years.
Let it roll on - and defer the tax in the US… but the State of Israel does not recognize the exemption… and collects the tax on every property sold.
Apart from the tax, of course there are closing costs (Teitel)
Still not as hot as Florida but the competition is felt. There is a very significant price increase from previous years and we are paying higher prices than a year or two ago.
The key to this is to bring assets that are off-market.
Or if a deal went on the market at a good price - many times a full price is given (Full price offer or above). This is of course if priced correctly.
Omri How is the market now in Milwaukee and Green Bay?
This is at least the situation in my market (Milwaukee / Wisconsin)
Since there is no direct relationship between the cost of the property, the rent and the current expenses (I compare it to a single family), then duplexes produce a higher palo fee by several good percentages compared to singles.
I understand that in Momenti Family it is important to buy in Cap Wright relatively high and with a relatively high vacancy or other improvement option, and then it is possible to create an immediate equity swap for the property
Friends,
Does anyone here want multi-family four units in a developing area in Milwaukee?
Not the most trivial deal… Requires an investor with patience and breathable air but is priced very low (79k for a four apartment building it is very very cheap).
Why the deal is not trivial:
1. Evacuation of three out of four tenants (who pay but I do not like the way they live in the property)
2. Renovation of about 20k that will include serious improvement of the property (everything works - but old and requires updating).
The rental on the property is currently 2100 $.
After renovation, the rent can be pushed towards 2400-2500 $.
You can finish everything around 100k.
We will carry out renovation and property management all along.
Anyone interested in it is invited to contact in details.