A recent article by the Milwaukee Journal Sentinel, describes the difficulties that Divine Momentum Real Estate LLC, had had with several of its properties, including numerous code violations and fines. Indeed, the company has paid over $60,000 court fines since April of this year. Additionally, as of early 2014, Divine Momentum had about one dozen properties on the city’s monthly re-inspection list, which evaluates properties that have incomplete required repairs. Divine Momentum pointed to the company’s previous property manager for the difficulties, although the property manager stated that Divine Momentum had instructed him to not put additional funds into the rental units
Since Spring 2014, Real Property Management Greater Milwaukee has been overseeing the properties, helping result in a number of improvements, including reducing the number of Divine Momentum’s properties on the city’s monthly reinspection list. Divine Momentum has spent about $650K on repairs this year, and hopes to have all of its properties to code by the middle of 2017.
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Related: Nightmare Story: Buying Investment Properties article.
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