Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
At oh five thirteen ten Wi b A and asked
the experts with Rock Realty online Rock Wisconsin dot com.
That's our o. Ck Wisconsin dot com. Great website to
check out. I even been there recently. Come on, get
on over there. It's a great day to do it.
I look at the overcast skies and we've had some
rain in the past couple of days. Nice little escape,
just to dream and see some beautiful houses. If you
(00:20):
are in the market looking to buy, great day to
make contact with the folks at Rockrealty. They're telling number
six O eight six seven three fifty four hundred. That's
six o' eight six seven three fifty four hundred. Or
looking to list as well. It's a great day to
do that. Rock Wisconsin dot com great website. Also Rocklistings
dot com. That's rock rck listings dot com. Joined in
studio this morning by mister Matt Heytman of Rockrealteam. Matt,
(00:42):
How you been I've been good.
Speaker 2 (00:43):
How are you sean?
Speaker 1 (00:43):
I'm doing great? Stand dry? Ah yeah? How about the property?
All o the home stand dry?
Speaker 2 (00:49):
So far, so good, haven't I haven't seen anything that's concerning.
Speaker 1 (00:53):
And we and for folks that want to listen back.
I know a couple of weeks ago we talked about
some things when it comes to purchasing a home and
some some things you can get to protect your investment,
and uh, really great information on all of that up
at WIBA dot com. Of course, you can also check
out rock Wisconsin dot com. That's r O c K
Wisconsin dot com and and get caught up on those
(01:13):
type of things. We're gonna be talking investment properties this week,
and what a great talk about great opportunities. Uh, there's
some really nice stuff out there in the area as well.
We'll talk with Matt about that in just a moment.
But first and foremost featured listing this week, it is
a great one in Verona. If I remember Cort it
is Verona, right on Enterprise Drive and Bethany Alexander is
(01:35):
a listing agent on this property. And remember the first
time it was earlier this it been Monday. With that yesterday, Wow,
it's Tuesday. I saw this, I thought, how is this
house on the market? And it is, and it's a
great opportunity. It's one of those where as we're talking
right now, you don't want to waste time, you don't
(01:55):
want to that data lead daddle what's that house? I
go that daddle around the diddle dadd whatever it is,
fiddle fattle. You don't want you don't want to sleep
on this one because it's going to go fast. Let's
talk about this three bedroom house in Verona, Matt.
Speaker 2 (02:09):
Yeah, it's a five five to four enterprise drive. It's
a condo in Verona, and as we know, since Epic
came around, Verona has been a pretty hot market, a
very stable market, great place for investment property. Yes, segue,
it's a three bedroom, two and a half bath unit.
And you know, it's one of those things that you know,
(02:32):
sometimes you can, if you're willing to put in a
little bit of work, you can get a heck of
a deal. And this one, it's assessed it three hundred
and sixteen thousand dollars and it's currently listed it to
eighty five.
Speaker 1 (02:42):
Oh wow.
Speaker 2 (02:43):
Yeah, if you're able to just throw in some new carpet,
I think you've got an opportunity.
Speaker 1 (02:47):
Yeah, that's that is amazing. And we're going to talk
to as we as you mentioned, we'll be talking about
investment opportunity stuff like this too. And I wonder how
big and you would know this. How big of an
impact has Picks growth and expansion had on on real
estate in general?
Speaker 2 (03:03):
Matt Well, I mean I think you can see, you know,
the number of new sub division that went in around Verona.
You know since that time. I remember when it was
kind of announced, I didn't know what a big deal
it actually was, right, you know, software exactly, Okay, well
how big could it be? And now you travel down
one fifty one and you're like, wow, that was quite
(03:26):
the event. So no, it definitely helped home prices in Verona.
You know, there's you know, from everything from temporary lodging
for you know, when they have people that just need
to visit the complex, to you know, home prices for
those that have full time jobs there. It definitely has
put a bit of a floor below that market.
Speaker 1 (03:48):
And this is a really good opportunity whether you're looking
for if you're an employee looking for a really great,
great place nearby work, or if you're looking for that
opportunity to rant it. I think too, is you mentioned
you know, whether it's like an Airbnb and other things.
I know they bring in sometimes like executives or other
other management and they'll spend months a couple of months
(04:08):
sometimes at the at the location here in town, at
the at the Corona location, and any places to stay
as well, don't they.
Speaker 2 (04:15):
Yeah. Yeah, And obviously you know with any sort of
kind of Airbnb or short term rental thing, you'll have
to to make sure that it's allowed in the homeowners
association or the condo association. But yeah, definitely an opportunity
around Verona for that.
Speaker 1 (04:28):
A great price is a five point fifty four enterprise
drive in Verona. Again, that's five fifty four enterprise drive.
All the details up at Rock Wisconsin dot com. That's
rock Rock Wisconsin dot com. Again. At that price, that convenience,
that neighborhood, it's not going to last very long. You
definitely want to call Bethany this morning. Tell phone number
six oh eight two one two forty one oh one.
That's six oh eight two one two forty one oh
(04:50):
one for Bethany. Say hey, Bethany, I want to talk
and see this house on enterprise. I think we'll talk
a little bit more about the housing features. And as
you mentioned, Matt ties in very nicely with what we're
going to talk about this week, which is investment properties
in real estate can be a phenomenal investment before we
kind of get into the different areas that folks need
to understand just in general when it comes to investments
(05:13):
and we're all looking to maximize you know, returns and opportunities.
Real estate can be a really really good tool, can't it.
Speaker 2 (05:21):
Yeah, definitely. And you know it's kind of a well
known fact that real estate's created more millionaires than any
other industry, right. You know, it's not a quick money play,
it's a long play, but it's very stable and just
a great idea for especially if someone's starting off. You know,
if you can make the right decisions in the beginning
(05:41):
and start scaling up, you can make huge headway.
Speaker 1 (05:44):
One of the things I notice for folks that kind
of they'll maybe they'll dip their toe in, they'll buy
a duplex, or maybe they'll buy a little for unit.
It doesn't sit at that very long exactly. I think
they start to see, like you know, they're like, oh,
I'll give this a try, and they quickly realize what
a great opportunities And you'll you'll quickly meet people that
are like, hey, we started out with a couple of duplexes,
and now they're like, he we own this whole subdivision
(06:07):
because it's it is it is really really it gets
in their blood. Yes, yes, yes it does, Yes it does.
Talking this running Matt Hytmen of Rock Realty Online Rock
Wisconsin dot com. That's Rock r O c K Wisconsin
dot com. There's opportunity everywhere, and there's different areas as well,
depending on what you're what you're looking to do, and
understanding that that market type is really important, isn't it, Matt.
Speaker 2 (06:29):
Yeah, you know there's different areas to look when you're
looking to do an investment property. Obviously, if you're looking
to just make your own, you know, home, homestead, family purchase,
it's a maybe a slightly different view on it. Right.
You can be out in the country and just enjoy
that life, but it might not make for the best
(06:49):
of rental, right, it might not bring in the best
per month rent either, right, So looking at places like
urban markets obviously Madison. You can be looking at Milwaukee
Green Bay. I mean, if you get one of those
houses right by Lambeau, though it might be a good investment.
Speaker 1 (07:05):
Might be a bad idea.
Speaker 2 (07:06):
Yeah, and boy, those those are looking neater.
Speaker 1 (07:09):
And every time I think they call put that reinvesting
in there.
Speaker 2 (07:14):
In there, I think I saw one with an indoor
pool this last time. Yeah, pretty neat. Another place you
can look for, you know, long term and short term
rental investments would be college towns, right, so Madison, Eclaire, Lacrosse, Whitewater.
You know, because student housing is stable, seasonal of course,
but stable. It comes with its own headaches. But but
(07:38):
again this is a long term.
Speaker 1 (07:39):
Invest and Matt some of this too. You mentioned some
of those headaches, some of that that stuff. I think
sometimes people forget that you can kind of offload some
of those responsibilities. There's companies out there. You buy the property,
they will they will handle all that that heavy work
for you. I think, I like students, for example, you're
doing it, you know, leases sometimes short term sometimes college
(07:59):
can be college kids and damage do other things. There's
people out there that you can you know, you buy
the property, they will gladly for a fee, they will
gladly manage that property for you.
Speaker 2 (08:08):
Allah. Yeah, I think the kind of the general i'd
say median out there somewhere between ten and twelve percent
of the runt payment, right, So, I mean if you're
charging fifteen hundred or let's just say two thousand dollars
a month, you know, two hundred dollars towards that property
management company. You know, a lot of times that will
eat into your cash flow, right, and a lot of
(08:30):
it depends on how much money you are putting down.
But it'll definitely add to your quality of life.
Speaker 1 (08:35):
Yes, they will, Yes, they will. Talking this morning with
Matt Heyman, of course, Matt comes with from Rock Realty
Online Rock Wisconsin dot com. That's Rock Rock Wisconsin dot
com and Matt you mentioned earlier understanding with things like
Airbnb and some of the other things, understanding what the
local rules are and whether it's a neighborhood condo association
and other things understanding that. But also there are landlord
(08:57):
tenant laws as well that you definitely want to be
aware of, aren't there.
Speaker 2 (09:00):
Yeah, yeah, I mean there are a lot of different
rules that are unique to Wisconsin. I think it's important
that you know that before going in. There's a Tenant
Resource Center in Madison that you can contact, and you
can contact them as tenants or landlords. I've done it
myself multiple times to get some clarification on things, and
(09:21):
you know, they'll they'll even sell you the appropriate books, right, Yes,
so you know there are resources out there. It's good
to know things ahead of time. You don't want to
find out after the fact that you're you've put yourself
into a bind.
Speaker 1 (09:35):
And that's and you mentioned that that the tenant resource,
and I think a lot of folks are familiar with
them if you've got like a college student for example,
and using them as a resource. But also if you
are a property owner, there are it's a resource as
well for you. What about things like taxes and other things.
Obviously when you talk about an investment property, you're really
looking a lot at the numbers, and you do want
to look at the property tax as well, don't you, Matt, Yeah,
(09:57):
I think so.
Speaker 2 (09:58):
And it can vary so much when this in general,
Wisconsin's a little above average as far as property taxes go.
We're no Illinois, but it's definitely definitely a price higher,
right And it's boy, I mean even even just you know,
a village tax rate versus the city tax rate can
(10:18):
make a big difference. That being said, the taxes, you know,
typically I'm not an accountant, but typically are deductible, you know,
because it is an expense towards that property. But you know,
like like I usually say, it's it's better to not
have to pay it and not have the deduction if
if you can get around it.
Speaker 1 (10:36):
So what about too is is we talk some of
the numbers financing is and I know we've had folks
in talking about, you know, different lenders and other things
I'm financing for for a rental property is a little
an investment property a little bit different? Also, isn't that's
a that's a different different kind of wheelhouse. Obviously there's
some very similar things, but it's definitely something that that
works a little bit different.
Speaker 2 (10:57):
I think. I think it's one of the more important
things to look at prior to go out going out
and shopping. Depending on the property type, you can you
can literally be a first time home buyer and you
can purchase a duplex or a four plex, so you
can owner occupy a four plex have three tenants paying
(11:18):
you know, three quarter of your mortgage. Right, if you
really wanted to get yourself into that situation right away, yeah,
I would recommend it. I mean, it's a great deal,
right if you can find a four plex and deal
with that while you're still young and don't have a
huge family well, go for it, right, But you know,
when you get to larger properties like six unit, eight unit,
twelve unit, a lot of times that veers into commercial
(11:39):
financing and such and just it's it's so important to
see what your options are out there. What you'll find is,
you know, banks are going to have different options than
a credit union. Right. You may find that a local
credit union offers a portfolio loan alone, that they actually
loan the money themselves versus getting it from one of
the government entities. And it might require a smaller down payment.
(12:02):
So in general, you're probably gonna need fifteen to twenty
five percent down for investment properties, sometimes higher, but usually
you can find someone that'll do it for twenty twenty
to twenty five percent if it's if it's literally investment
property and not owner occupied.
Speaker 1 (12:16):
And for folks that you to drive around town and
there's some big name developers that we're all familiar with,
and people have to wonder how they get to there,
they all a lot of them. Can get a chance
to talk with them, they will tell you a lot
of them started single. You know, I had one unit
and kind of grew from there. So it just goes
to show you what great opportunities there are out there,
and of course it's no secret that there's great opportunities
(12:36):
out there. We're talking a little bit about kind of
how to get the edge when it comes to buying
and looking for investment property. We'll do that next with
Matt Heypman. Of course, Matt comes to us from Rockrealty
the website Rock Wisconsin dot com. That's our Ock Wisconsin
dot com. More of ask the experts with Rockrealty next
right here on thirteen ten wu ib I eight fifty
thirteen ten WI b A and ask the experts with
(12:59):
Rock Realty. Hanging out with Matt Heyman. Of course, Matt
comes to us from Rock Realty, the website Rock Wisconsin
dot com. That's Rock r O c K Wisconsin dot com.
Talking investment properties this week, I'll tell you a little
bit about this week's featured listing, which could be a
great investment opportunity. I'll tell you about that in just
a moment. Matt, though, just before the break, one of
the things we talked about all the great benefits in
(13:19):
that first segment and why a lot of folks look
for investment properties now because of that. It's a very
competitive market. Especially for those really ideal properties. There are
some things you can do, tricks and other things that
folks can be doing when they're when they're doing that,
I've got to guess working with good agent is probably
a big part of that. Also.
Speaker 2 (13:40):
Yeah, you know, there aren't a lot of people that
end up selling their investment properties. It's a it's kind
of a rarity, right, it comes at the right time
in their lives, and or they're looking to upgrade to
a larger, you know, complex development something like that. So
what you find is more more so than single family
(14:02):
there's a lot of off market deals that go on
right and so having the right agent and to able
to kind of source those is important. You know. They
can do things like direct mail campaigns, or they can
figure out if there's any out of state owners and
contact them. Just through their normal networking. They can find
out who who's thinking or considering selling their investment properties.
(14:25):
So if you actually are hire a buyer agent, they're
allowed to go out and do those things off market
and find those things for you.
Speaker 1 (14:31):
Oh, that's fantastic to hear. And yeah, having that having
that person working for you kind of doing that, doing
some of that leg work and understanding that is a
big deal sometimes, you know, you think about folks as
they assemble their portfolios and things tend to change. Maybe
there is that one off that just doesn't fit perfectly
in with what they're doing, and a great opportunity there.
We've we've got duplexes triplexes in the area. Those are
(14:55):
really nice for a number of reasons. Is they can
be a little more on the affordable side. And then
they also because they're more affordable, and because there's two
or three in some of these or more, there's some
there's some financial opportunities there aren't there.
Speaker 2 (15:10):
Yeah, I'm being able to bundle that into one mortgage
payment's important. You can kind of save some money. You
immediately know who the next door neighbor is because you
own both sides, right, so you can kind of manage
what tenants you bring in there as far as making
sure they have good rental history and have been treating
the properties properly, or if you can find those things
(15:30):
out right, we get more and more limited. There is
what we can ask though, unfortunately, but yeah, I mean,
if you can target duplex's three units, four units, you
know it's it appeals to a large group.
Speaker 1 (15:43):
What about And obviously it has become kind of the
go to for a lot of folks that are looking for,
you know, kind of a little getaway and something unique.
Airbnb has become very popular. Mentioned that Lambeau and some
other other obviously here in Madison with Badger football and
Badger basketball, Airbnb is definitely an opportunity for you to make, uh,
(16:03):
make some good money if you've got that right property,
isn't it. Yeah?
Speaker 2 (16:07):
And I think that you know something that's missed off
and is Airbnbs can be attractive in almost any town,
any market, right, There's always going to be family members
coming into visiting. And if you have any sort of
you know, commercial businesses or you know, any development to
where people are bringing in managers that need to be
(16:31):
there for a month or two, I mean, they'll pull
up Airbnb and they'll try to find something. So a
lot of times what they'll what they'll notice is that
in a particular town there isn't a lot of airbnb options.
So if you're one of the few that are available,
you can find some good success there. And it doesn't
necessarily have to be at a place called you know,
the Dell's or door County or downtown Madison. It can
(16:51):
be one of the outlying sub suburbs.
Speaker 1 (16:54):
That's interesting perspective, I think. I think a lot of
us and I think a lot of this too, as
you're looking for those right rental properties or those investment opportunities,
sometimes stepping out of of what your expectations are. I
think for a lot of a lot of folks, we're thinking, oh,
I'd love to have an airbnb right on campus or
right you know, but there's also opportunities outside of those
(17:14):
areas that can be quite lucrative and and uh and
probably a little more. Nothing against the college students or
those type of things, but sometimes they can be rough
with things. So you get like a place where somebody
is just looking for a nice relaxing week or a
place to work out of while they're while they're in
talent long term.
Speaker 2 (17:29):
In our subdivision in Stoughton, one of the houses sold
and it turns out they turned it into airbnb. Oh wow,
you know there's that's just a subdivision in Stoton And
I got to say, it's pretty busy. It's it's pretty full.
Speaker 1 (17:42):
I saw the listing. It says live near matt Heiden
and it's been booked solid for you. It comes with airhorns. Yeah.
Talk that is running with Matt Hymn of Rockrealty Online
Rock Wisconsin dot com. That's Rock ro c K Wisconsin
dot com. Obviously, I'm just kind of looking for the
right areas. There's growth zone, there's other things out there,
things that you know today may look like why are
(18:03):
you eyeballing that? And then in a year or two
you discover while I was eyeballing it because things are happening,
big projects are on the horizon. We talked about Epic
and you kind of pointed out earlier a lot of
us when that first started expanding, We're like, an, no
big deal, and then you realized, Wow, that was a
really big deal, wasn't Yeah, I would say that.
Speaker 2 (18:21):
You know, obviously, you know, the more people a new
company is going to hire, the know, the better the
investment opportunity. It's also pertains to you know whether or
not you're going to have people coming into town for something. Right,
So let's say they they were to actually put up
(18:41):
the golf, Yeah, out and out in Manona like they
planned on, right, Well, maybe then people come in for
a weekend and yeah, go hit up, do some golfing
and then and then need an airbnb at the same time.
Speaker 1 (18:54):
And there's other opportunities as well with with investment, things
like buying knowing that you're going to sell in the
future and buying a property that's that's affordable, may need
a little bit of work and put a little equity
into it and a little bit of sweat equity into
it and turn around and get a get a lot
of a lot of a lot of money for then
that's a great thing about having that conversation. Great day
(19:16):
to learn more online Rock Wisconsin dot com. That's Rock
r c K Wisconsin dot com speaking of great opportunities
to get a house that is a condo side by
side that is, it's got a garage, it's got everything.
In Verona, it's great neighborhood. If you've got a little
bit of a little bit of gumption to do some work,
you can really turn this into a into a palace.
(19:37):
Let's talk about this house on Enterprise Drive, Matt.
Speaker 2 (19:39):
Yeah, it's a five five four Enterprise Drive in Verona,
three bedroom, two and a half bath, has an attached garage,
which is a huge, huge bonus, and it's got a
great layout, just a matter of a maybe replacing some flooring.
You're getting the thing at thirty thousand dollars below assessment
at two hundred and eighty five thousand, So it's an
opportunity if you just give a Bethany ring there.
Speaker 1 (20:00):
And Bethany's number it is six oh eight two one
two forty one oh one. That's two p one two
forty one oh one. And Matt, do you ever just
get the itch to be like, hey, you know what,
let's uh, let's look at this myself. Well, sometimes I just.
Speaker 2 (20:11):
Got to call Bethany agent agent preview and just walk through.
Speaker 1 (20:15):
Yeah, that's really really good stuff. Bethany Alexander listing agent
on this property. Again, it's right an Enterprise Drive in Verona,
Telpha number six oh eight two one two forty one
oh one. That's two one two forty one oh one. Again,
this property is not going to last long, so she
definitely want to call Bethany today. But looking for some
great listings, looking for something fun to do, head on
over to Rock Wisconsin dot com. That's Rock R O
(20:35):
c K Wisconsin dot com. It's a great day to
do that. And of course they're telephon AB out Rock
Realty six o' eight six seven three fifty four hundred.
That's six oh eight six seven three fifty four hundred, Matt.
It's always great, Sanny. You have a great day, you do,
Sir Chris Crock. He is in for Ficky McKenna today
next right here on thirteen ten Wi
At oh five thirteen ten Wi b A and asked
the experts with Rock Realty online Rock Wisconsin dot com.
That's our o. Ck Wisconsin dot com. Great website to
check out. I even been there recently. Come on, get
on over there. It's a great day to do it.
I look at the overcast skies and we've had some
rain in the past couple of days. Nice little escape,
just to dream and see some beautiful houses. If you
(00:20):
are in the market looking to buy, great day to
make contact with the folks at Rockrealty. They're telling number
six O eight six seven three fifty four hundred. That's
six o' eight six seven three fifty four hundred. Or
looking to list as well. It's a great day to
do that. Rock Wisconsin dot com great website. Also Rocklistings
dot com. That's rock rck listings dot com. Joined in
studio this morning by mister Matt Heytman of Rockrealteam. Matt,
(00:42):
How you been I've been good.
Speaker 2 (00:43):
How are you sean?
Speaker 1 (00:43):
I'm doing great? Stand dry? Ah yeah? How about the property?
All o the home stand dry?
Speaker 2 (00:49):
So far, so good, haven't I haven't seen anything that's concerning.
Speaker 1 (00:53):
And we and for folks that want to listen back.
I know a couple of weeks ago we talked about
some things when it comes to purchasing a home and
some some things you can get to protect your investment,
and uh, really great information on all of that up
at WIBA dot com. Of course, you can also check
out rock Wisconsin dot com. That's r O c K
Wisconsin dot com and and get caught up on those
(01:13):
type of things. We're gonna be talking investment properties this week,
and what a great talk about great opportunities. Uh, there's
some really nice stuff out there in the area as well.
We'll talk with Matt about that in just a moment.
But first and foremost featured listing this week, it is
a great one in Verona. If I remember Cort it
is Verona, right on Enterprise Drive and Bethany Alexander is
(01:35):
a listing agent on this property. And remember the first
time it was earlier this it been Monday. With that yesterday, Wow,
it's Tuesday. I saw this, I thought, how is this
house on the market? And it is, and it's a
great opportunity. It's one of those where as we're talking
right now, you don't want to waste time, you don't
(01:55):
want to that data lead daddle what's that house? I
go that daddle around the diddle dadd whatever it is,
fiddle fattle. You don't want you don't want to sleep
on this one because it's going to go fast. Let's
talk about this three bedroom house in Verona, Matt.
Speaker 2 (02:09):
Yeah, it's a five five to four enterprise drive. It's
a condo in Verona, and as we know, since Epic
came around, Verona has been a pretty hot market, a
very stable market, great place for investment property. Yes, segue,
it's a three bedroom, two and a half bath unit.
And you know, it's one of those things that you know,
(02:32):
sometimes you can, if you're willing to put in a
little bit of work, you can get a heck of
a deal. And this one, it's assessed it three hundred
and sixteen thousand dollars and it's currently listed it to
eighty five.
Speaker 1 (02:42):
Oh wow.
Speaker 2 (02:43):
Yeah, if you're able to just throw in some new carpet,
I think you've got an opportunity.
Speaker 1 (02:47):
Yeah, that's that is amazing. And we're going to talk
to as we as you mentioned, we'll be talking about
investment opportunity stuff like this too. And I wonder how
big and you would know this. How big of an
impact has Picks growth and expansion had on on real
estate in general?
Speaker 2 (03:03):
Matt Well, I mean I think you can see, you know,
the number of new sub division that went in around Verona.
You know since that time. I remember when it was
kind of announced, I didn't know what a big deal
it actually was, right, you know, software exactly, Okay, well
how big could it be? And now you travel down
one fifty one and you're like, wow, that was quite
(03:26):
the event. So no, it definitely helped home prices in Verona.
You know, there's you know, from everything from temporary lodging
for you know, when they have people that just need
to visit the complex, to you know, home prices for
those that have full time jobs there. It definitely has
put a bit of a floor below that market.
Speaker 1 (03:48):
And this is a really good opportunity whether you're looking
for if you're an employee looking for a really great,
great place nearby work, or if you're looking for that
opportunity to rant it. I think too, is you mentioned
you know, whether it's like an Airbnb and other things.
I know they bring in sometimes like executives or other
other management and they'll spend months a couple of months
(04:08):
sometimes at the at the location here in town, at
the at the Corona location, and any places to stay
as well, don't they.
Speaker 2 (04:15):
Yeah. Yeah, And obviously you know with any sort of
kind of Airbnb or short term rental thing, you'll have
to to make sure that it's allowed in the homeowners
association or the condo association. But yeah, definitely an opportunity
around Verona for that.
Speaker 1 (04:28):
A great price is a five point fifty four enterprise
drive in Verona. Again, that's five fifty four enterprise drive.
All the details up at Rock Wisconsin dot com. That's
rock Rock Wisconsin dot com. Again. At that price, that convenience,
that neighborhood, it's not going to last very long. You
definitely want to call Bethany this morning. Tell phone number
six oh eight two one two forty one oh one.
That's six oh eight two one two forty one oh
(04:50):
one for Bethany. Say hey, Bethany, I want to talk
and see this house on enterprise. I think we'll talk
a little bit more about the housing features. And as
you mentioned, Matt ties in very nicely with what we're
going to talk about this week, which is investment properties
in real estate can be a phenomenal investment before we
kind of get into the different areas that folks need
to understand just in general when it comes to investments
(05:13):
and we're all looking to maximize you know, returns and opportunities.
Real estate can be a really really good tool, can't it.
Speaker 2 (05:21):
Yeah, definitely. And you know it's kind of a well
known fact that real estate's created more millionaires than any
other industry, right. You know, it's not a quick money play,
it's a long play, but it's very stable and just
a great idea for especially if someone's starting off. You know,
if you can make the right decisions in the beginning
(05:41):
and start scaling up, you can make huge headway.
Speaker 1 (05:44):
One of the things I notice for folks that kind
of they'll maybe they'll dip their toe in, they'll buy
a duplex, or maybe they'll buy a little for unit.
It doesn't sit at that very long exactly. I think
they start to see, like you know, they're like, oh,
I'll give this a try, and they quickly realize what
a great opportunities And you'll you'll quickly meet people that
are like, hey, we started out with a couple of duplexes,
and now they're like, he we own this whole subdivision
(06:07):
because it's it is it is really really it gets
in their blood. Yes, yes, yes it does, Yes it does.
Talking this running Matt Hytmen of Rock Realty Online Rock
Wisconsin dot com. That's Rock r O c K Wisconsin
dot com. There's opportunity everywhere, and there's different areas as well,
depending on what you're what you're looking to do, and
understanding that that market type is really important, isn't it, Matt.
Speaker 2 (06:29):
Yeah, you know there's different areas to look when you're
looking to do an investment property. Obviously, if you're looking
to just make your own, you know, home, homestead, family purchase,
it's a maybe a slightly different view on it. Right.
You can be out in the country and just enjoy
that life, but it might not make for the best
(06:49):
of rental, right, it might not bring in the best
per month rent either, right, So looking at places like
urban markets obviously Madison. You can be looking at Milwaukee
Green Bay. I mean, if you get one of those
houses right by Lambeau, though it might be a good investment.
Speaker 1 (07:05):
Might be a bad idea.
Speaker 2 (07:06):
Yeah, and boy, those those are looking neater.
Speaker 1 (07:09):
And every time I think they call put that reinvesting
in there.
Speaker 2 (07:14):
In there, I think I saw one with an indoor
pool this last time. Yeah, pretty neat. Another place you
can look for, you know, long term and short term
rental investments would be college towns, right, so Madison, Eclaire, Lacrosse, Whitewater.
You know, because student housing is stable, seasonal of course,
but stable. It comes with its own headaches. But but
(07:38):
again this is a long term.
Speaker 1 (07:39):
Invest and Matt some of this too. You mentioned some
of those headaches, some of that that stuff. I think
sometimes people forget that you can kind of offload some
of those responsibilities. There's companies out there. You buy the property,
they will they will handle all that that heavy work
for you. I think, I like students, for example, you're
doing it, you know, leases sometimes short term sometimes college
(07:59):
can be college kids and damage do other things. There's
people out there that you can you know, you buy
the property, they will gladly for a fee, they will
gladly manage that property for you.
Speaker 2 (08:08):
Allah. Yeah, I think the kind of the general i'd
say median out there somewhere between ten and twelve percent
of the runt payment, right, So, I mean if you're
charging fifteen hundred or let's just say two thousand dollars
a month, you know, two hundred dollars towards that property
management company. You know, a lot of times that will
eat into your cash flow, right, and a lot of
(08:30):
it depends on how much money you are putting down.
But it'll definitely add to your quality of life.
Speaker 1 (08:35):
Yes, they will, Yes, they will. Talking this morning with
Matt Heyman, of course, Matt comes with from Rock Realty
Online Rock Wisconsin dot com. That's Rock Rock Wisconsin dot
com and Matt you mentioned earlier understanding with things like
Airbnb and some of the other things, understanding what the
local rules are and whether it's a neighborhood condo association
and other things understanding that. But also there are landlord
(08:57):
tenant laws as well that you definitely want to be
aware of, aren't there.
Speaker 2 (09:00):
Yeah, yeah, I mean there are a lot of different
rules that are unique to Wisconsin. I think it's important
that you know that before going in. There's a Tenant
Resource Center in Madison that you can contact, and you
can contact them as tenants or landlords. I've done it
myself multiple times to get some clarification on things, and
(09:21):
you know, they'll they'll even sell you the appropriate books, right, Yes,
so you know there are resources out there. It's good
to know things ahead of time. You don't want to
find out after the fact that you're you've put yourself
into a bind.
Speaker 1 (09:35):
And that's and you mentioned that that the tenant resource,
and I think a lot of folks are familiar with
them if you've got like a college student for example,
and using them as a resource. But also if you
are a property owner, there are it's a resource as
well for you. What about things like taxes and other things.
Obviously when you talk about an investment property, you're really
looking a lot at the numbers, and you do want
to look at the property tax as well, don't you, Matt, Yeah,
(09:57):
I think so.
Speaker 2 (09:58):
And it can vary so much when this in general,
Wisconsin's a little above average as far as property taxes go.
We're no Illinois, but it's definitely definitely a price higher,
right And it's boy, I mean even even just you know,
a village tax rate versus the city tax rate can
(10:18):
make a big difference. That being said, the taxes, you know,
typically I'm not an accountant, but typically are deductible, you know,
because it is an expense towards that property. But you know,
like like I usually say, it's it's better to not
have to pay it and not have the deduction if
if you can get around it.
Speaker 1 (10:36):
So what about too is is we talk some of
the numbers financing is and I know we've had folks
in talking about, you know, different lenders and other things
I'm financing for for a rental property is a little
an investment property a little bit different? Also, isn't that's
a that's a different different kind of wheelhouse. Obviously there's
some very similar things, but it's definitely something that that
works a little bit different.
Speaker 2 (10:57):
I think. I think it's one of the more important
things to look at prior to go out going out
and shopping. Depending on the property type, you can you
can literally be a first time home buyer and you
can purchase a duplex or a four plex, so you
can owner occupy a four plex have three tenants paying
(11:18):
you know, three quarter of your mortgage. Right, if you
really wanted to get yourself into that situation right away, yeah,
I would recommend it. I mean, it's a great deal,
right if you can find a four plex and deal
with that while you're still young and don't have a
huge family well, go for it, right, But you know,
when you get to larger properties like six unit, eight unit,
twelve unit, a lot of times that veers into commercial
(11:39):
financing and such and just it's it's so important to
see what your options are out there. What you'll find is,
you know, banks are going to have different options than
a credit union. Right. You may find that a local
credit union offers a portfolio loan alone, that they actually
loan the money themselves versus getting it from one of
the government entities. And it might require a smaller down payment.
(12:02):
So in general, you're probably gonna need fifteen to twenty
five percent down for investment properties, sometimes higher, but usually
you can find someone that'll do it for twenty twenty
to twenty five percent if it's if it's literally investment
property and not owner occupied.
Speaker 1 (12:16):
And for folks that you to drive around town and
there's some big name developers that we're all familiar with,
and people have to wonder how they get to there,
they all a lot of them. Can get a chance
to talk with them, they will tell you a lot
of them started single. You know, I had one unit
and kind of grew from there. So it just goes
to show you what great opportunities there are out there,
and of course it's no secret that there's great opportunities
(12:36):
out there. We're talking a little bit about kind of
how to get the edge when it comes to buying
and looking for investment property. We'll do that next with
Matt Heypman. Of course, Matt comes to us from Rockrealty
the website Rock Wisconsin dot com. That's our Ock Wisconsin
dot com. More of ask the experts with Rockrealty next
right here on thirteen ten wu ib I eight fifty
thirteen ten WI b A and ask the experts with
(12:59):
Rock Realty. Hanging out with Matt Heyman. Of course, Matt
comes to us from Rock Realty, the website Rock Wisconsin
dot com. That's Rock r O c K Wisconsin dot com.
Talking investment properties this week, I'll tell you a little
bit about this week's featured listing, which could be a
great investment opportunity. I'll tell you about that in just
a moment. Matt, though, just before the break, one of
the things we talked about all the great benefits in
(13:19):
that first segment and why a lot of folks look
for investment properties now because of that. It's a very
competitive market. Especially for those really ideal properties. There are
some things you can do, tricks and other things that
folks can be doing when they're when they're doing that,
I've got to guess working with good agent is probably
a big part of that. Also.
Speaker 2 (13:40):
Yeah, you know, there aren't a lot of people that
end up selling their investment properties. It's a it's kind
of a rarity, right, it comes at the right time
in their lives, and or they're looking to upgrade to
a larger, you know, complex development something like that. So
what you find is more more so than single family
(14:02):
there's a lot of off market deals that go on
right and so having the right agent and to able
to kind of source those is important. You know. They
can do things like direct mail campaigns, or they can
figure out if there's any out of state owners and
contact them. Just through their normal networking. They can find
out who who's thinking or considering selling their investment properties.
(14:25):
So if you actually are hire a buyer agent, they're
allowed to go out and do those things off market
and find those things for you.
Speaker 1 (14:31):
Oh, that's fantastic to hear. And yeah, having that having
that person working for you kind of doing that, doing
some of that leg work and understanding that is a
big deal sometimes, you know, you think about folks as
they assemble their portfolios and things tend to change. Maybe
there is that one off that just doesn't fit perfectly
in with what they're doing, and a great opportunity there.
We've we've got duplexes triplexes in the area. Those are
(14:55):
really nice for a number of reasons. Is they can
be a little more on the affordable side. And then
they also because they're more affordable, and because there's two
or three in some of these or more, there's some
there's some financial opportunities there aren't there.
Speaker 2 (15:10):
Yeah, I'm being able to bundle that into one mortgage
payment's important. You can kind of save some money. You
immediately know who the next door neighbor is because you
own both sides, right, so you can kind of manage
what tenants you bring in there as far as making
sure they have good rental history and have been treating
the properties properly, or if you can find those things
(15:30):
out right, we get more and more limited. There is
what we can ask though, unfortunately, but yeah, I mean,
if you can target duplex's three units, four units, you
know it's it appeals to a large group.
Speaker 1 (15:43):
What about And obviously it has become kind of the
go to for a lot of folks that are looking for,
you know, kind of a little getaway and something unique.
Airbnb has become very popular. Mentioned that Lambeau and some
other other obviously here in Madison with Badger football and
Badger basketball, Airbnb is definitely an opportunity for you to make, uh,
(16:03):
make some good money if you've got that right property,
isn't it. Yeah?
Speaker 2 (16:07):
And I think that you know something that's missed off
and is Airbnbs can be attractive in almost any town,
any market, right, There's always going to be family members
coming into visiting. And if you have any sort of
you know, commercial businesses or you know, any development to
where people are bringing in managers that need to be
(16:31):
there for a month or two, I mean, they'll pull
up Airbnb and they'll try to find something. So a
lot of times what they'll what they'll notice is that
in a particular town there isn't a lot of airbnb options.
So if you're one of the few that are available,
you can find some good success there. And it doesn't
necessarily have to be at a place called you know,
the Dell's or door County or downtown Madison. It can
(16:51):
be one of the outlying sub suburbs.
Speaker 1 (16:54):
That's interesting perspective, I think. I think a lot of
us and I think a lot of this too, as
you're looking for those right rental properties or those investment opportunities,
sometimes stepping out of of what your expectations are. I
think for a lot of a lot of folks, we're thinking, oh,
I'd love to have an airbnb right on campus or
right you know, but there's also opportunities outside of those
(17:14):
areas that can be quite lucrative and and uh and
probably a little more. Nothing against the college students or
those type of things, but sometimes they can be rough
with things. So you get like a place where somebody
is just looking for a nice relaxing week or a
place to work out of while they're while they're in
talent long term.
Speaker 2 (17:29):
In our subdivision in Stoughton, one of the houses sold
and it turns out they turned it into airbnb. Oh wow,
you know there's that's just a subdivision in Stoton And
I got to say, it's pretty busy. It's it's pretty full.
Speaker 1 (17:42):
I saw the listing. It says live near matt Heiden
and it's been booked solid for you. It comes with airhorns. Yeah.
Talk that is running with Matt Hymn of Rockrealty Online
Rock Wisconsin dot com. That's Rock ro c K Wisconsin
dot com. Obviously, I'm just kind of looking for the
right areas. There's growth zone, there's other things out there,
things that you know today may look like why are
(18:03):
you eyeballing that? And then in a year or two
you discover while I was eyeballing it because things are happening,
big projects are on the horizon. We talked about Epic
and you kind of pointed out earlier a lot of
us when that first started expanding, We're like, an, no
big deal, and then you realized, Wow, that was a
really big deal, wasn't Yeah, I would say that.
Speaker 2 (18:21):
You know, obviously, you know, the more people a new
company is going to hire, the know, the better the
investment opportunity. It's also pertains to you know whether or
not you're going to have people coming into town for something. Right,
So let's say they they were to actually put up
(18:41):
the golf, Yeah, out and out in Manona like they
planned on, right, Well, maybe then people come in for
a weekend and yeah, go hit up, do some golfing
and then and then need an airbnb at the same time.
Speaker 1 (18:54):
And there's other opportunities as well with with investment, things
like buying knowing that you're going to sell in the
future and buying a property that's that's affordable, may need
a little bit of work and put a little equity
into it and a little bit of sweat equity into
it and turn around and get a get a lot
of a lot of a lot of money for then
that's a great thing about having that conversation. Great day
(19:16):
to learn more online Rock Wisconsin dot com. That's Rock
r c K Wisconsin dot com speaking of great opportunities
to get a house that is a condo side by
side that is, it's got a garage, it's got everything.
In Verona, it's great neighborhood. If you've got a little
bit of a little bit of gumption to do some work,
you can really turn this into a into a palace.
(19:37):
Let's talk about this house on Enterprise Drive, Matt.
Speaker 2 (19:39):
Yeah, it's a five five four Enterprise Drive in Verona,
three bedroom, two and a half bath, has an attached garage,
which is a huge, huge bonus, and it's got a
great layout, just a matter of a maybe replacing some flooring.
You're getting the thing at thirty thousand dollars below assessment
at two hundred and eighty five thousand, So it's an
opportunity if you just give a Bethany ring there.
Speaker 1 (20:00):
And Bethany's number it is six oh eight two one
two forty one oh one. That's two p one two
forty one oh one. And Matt, do you ever just
get the itch to be like, hey, you know what,
let's uh, let's look at this myself. Well, sometimes I just.
Speaker 2 (20:11):
Got to call Bethany agent agent preview and just walk through.
Speaker 1 (20:15):
Yeah, that's really really good stuff. Bethany Alexander listing agent
on this property. Again, it's right an Enterprise Drive in Verona,
Telpha number six oh eight two one two forty one
oh one. That's two one two forty one oh one. Again,
this property is not going to last long, so she
definitely want to call Bethany today. But looking for some
great listings, looking for something fun to do, head on
over to Rock Wisconsin dot com. That's Rock R O
(20:35):
c K Wisconsin dot com. It's a great day to
do that. And of course they're telephon AB out Rock
Realty six o' eight six seven three fifty four hundred.
That's six oh eight six seven three fifty four hundred, Matt.
It's always great, Sanny. You have a great day, you do,
Sir Chris Crock. He is in for Ficky McKenna today
next right here on thirteen ten Wi
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