House #46: The WI-4 House

February 17, 2013 · 8 comments

Just a couple days after getting our 3rd Milwaukee house under contract, we just got our 4th…

This one is not too far from our first two Milwaukee houses and is an estate sale that’s already practically move-in ready. We’re purchasing it for $200,000 and hoping that a basic cosmetic upgrade (about $25,000 worth of renovations) will help us add significant value to the property and get it resold quickly for about $270,000. Not a home run deal, but if things work out, it will be a relatively quick and easy profit.

We’re closing on this one in about 10 days (neither my partner nor myself have seen it yet), and will post pictures in a few days when we get the inspection report back…

8 responses to “House #46: The WI-4 House”

  1. Tom Greene says:

    Congrats. I think like in Atlanta once your reputation gets out your sales will be easier and agents will be calling you looking for your next property.

  2. J Scott says:

    Thanks Tom! I certainly hope you’re right… πŸ™‚

  3. Joe says:

    Hi J!

    I have been reading your blog for a while and love it! Its awesome what you have been able to do over the last few years.

    I am just starting out and am looking for my first property in KC. While randomly browsing, I came across your thread on biggerpockets about mentoring (I thought your username sounded familiar and then put two and two together). Have you found someone to mentor yet? If not, and you are willing to work with someone in KC, then I would love the help as I find & rehab my first property.

    Please let me know if you are interested or know of anyone else that I could reach out to.


  4. J Scott says:

    Hi Joe,

    I haven’t picked anyone yet, but it will likely be someone local. Unfortunately, I don’t think I’m talented enough to be able to mentor someone effectively from far away… πŸ™‚

  5. Joe says:

    No problem. Your blog has already helped me a ton so thanks for keeping it updated with such great info!

  6. Daniel says:

    J~ I’m new to your site & blogs, I was referred by other investors that your company has meet with from the Milwaukee area. I’m an Electrical Contractor who has been doing business with investors in the Milwaukee area and have also started a new Real Estate Company as well. I greatly enjoy reading about your adventures in WI thus far, if your interested in other bids or another connection…. please email.
    Thanks greatly for sharing your info.,


  7. Shane Johnson says:

    @ Joe, hes already mentoring you, and the rest of us. Read everything you can on his website and you will have most of what you need between here and BP to get your started. All it takes from there is cajones, try to make the right decisions, and learning from your mistakes. πŸ™‚

  8. J Scott says:

    Thanks Shane! You’re exactly right…anyone can do it…study hard then jump in!!!

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