Moving back to Milwaukee
Hi I am coming back into the Milwaukee area after a brief hiatus and am looking for a good owner/occupant opportunity. My priorities are
1. I need a place to live. (Doesn't have to be big or luxurious...)
2. Must be a safe neighborhood
3. Save money on a monthly basis (cash flow would be a bonus)
4. I love the east side and work near NW Milwaukee/Menomonee Falls...however am willing to consider areas other than those two as long as they fit the first 3 criteria better.
5. Willing to do some rehab work but less inclined to an all-out gut job while living there.
It would be nice if this circumstance could springboard into successful real estate investing ongoing but I do not yet know how serious I will be about it as time goes on so I'm a bit cautious. Right now I am enjoying absorbing all the info here on BP.
It seems like I can gain the most ground financially with more units, perhaps a quad is the best choice if I can find a good deal. Four units seems like a good cutoff as it is taxed residentially vs commercially and it might be the most I could handle as a newbie landlord. I've seen a few quads northeast of Wauwatosa (76th & Center) but am not sure about that neighborhood. Also intrigued by some of the low cost (100k) duplexes near 107th and Good Hope but is that a good area to get into? The numbers don't seem as good as a quad...
Any advice or tips are appreciated, Thanks!
Dave