Madison, WI · Member since 2016 · 12 posts · 5 votes
Hi Everyone,
I'm a new investor looking to cash flow from rentals in or near Madison. I am hoping to make my first investment within the next year and could use some advice. Initially I was thinking along the lines of using an FHA loan to buy a small multifamily to start out. I also was hoping to find something under 100k since I don't have much money for a larger down payment. Do these types of properties exist or am I being wishful? From my brief search so far I haven't found much in this range period, let alone the larger multifamily homes. If not, would you recommend saving for an extra year-ish to afford a multifamily, buying a single family and living in it for the year, or finding a partner or other means of financing?
Also does anyone in the area have some insight as to what the best area to invest near Madison is?
If your look for multifamily around that price range your best bet would be in Rock County nearest to Beloit WI. I invest there and property prices to rent is very good in my opinion. I don't invest in the Madison area due to such high market prices and also that I don't have unlimited funds. I do live here however. Hope that helps a little.