New Investor looking at Milwaukee

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New Investor looking at Milwaukee

James Peluso
Rental Property Investor · Fair Haven, NJ · Member since 2019 · 19 posts · 4 votes

Hi! I am new to real estate investing. I’m looking into Milwaukee for a couple of reasons. Firstly, I believe that I can afford to invest there. Secondly, my wife has family in and around Milwaukee and we have spent some time there. I live in coastal NJ and the prices and taxes are insanely high. I truly enjoy Milwaukee and Wisconsin and have thought about moving there in the future.

I have listened to podcasts pertaining to Milwaukee and have been trying to do as much research as possible. I have found the forums on BP and the people to be very helpful and insightful. My strategy is to buy and hold single and multi family homes. I’m open to any and all knowledge and criticism as I understand that I have a lot to learn. While I may not have much to offer now, I truly appreciate the knowledge from the BP members, especially those in Milwaukee!

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Matt Maurice
Property Manager · Milwaukee, WI · Member since 2014 · 113 posts · 144 votes
7y

Hey James,

Welcome to Milwaukee!  (well, kinda).  There is a ton of opportunity here right now for a solid long-term buy and hold strategy.  There are quite a few posts from other folks doing the same, if you search Milwaukee in the forums you will likely find them.  Like any city, Milwaukee has its nuances to the neighborhoods so you want to do your due diligence and make sure the property you purchase lines up with your risk tolerance.  

First step - Join the Brew City REI Group on Facebook, on the intro question let them know I referred you and Rebecca will approve it.

Step two - Talk to @Marcus Auerbach.  His insight and knowledge of the Milwaukee market, specifically pertaining to rentals, is second to none.  

Welcome!

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  • Jon Schoeller
    Flipper/Rehabber · Charleston, WV · Member since 2016 · 172 posts · 126 votes
    7y

    Hello James! I am not from Milwaukee but your plan seems solid to me. When buying out of state it always helps to have friends/family in the area that can help manage it or at least keep an eye on it. 

    0Reply
  • Matt Maurice
    Property Manager · Milwaukee, WI · Member since 2014 · 113 posts · 144 votes
    7y

    Hey James,

    Welcome to Milwaukee!  (well, kinda).  There is a ton of opportunity here right now for a solid long-term buy and hold strategy.  There are quite a few posts from other folks doing the same, if you search Milwaukee in the forums you will likely find them.  Like any city, Milwaukee has its nuances to the neighborhoods so you want to do your due diligence and make sure the property you purchase lines up with your risk tolerance.  

    First step - Join the Brew City REI Group on Facebook, on the intro question let them know I referred you and Rebecca will approve it.

    Step two - Talk to @Marcus Auerbach.  His insight and knowledge of the Milwaukee market, specifically pertaining to rentals, is second to none.  

    Welcome!

    11Reply
  • James Peluso
    OP
    Rental Property Investor · Fair Haven, NJ · Member since 2019 · 19 posts · 4 votes
    7y

    @Matt Maurice

    Thank you for your insightful input. I just read your post on another forum post and it has given me some pause. There is a lot to learn and I appreciate everyone's input on BP. I'll join the Brew City REI and reach out to @Marcus Auerbach.

    2Reply
  • Brock Mogensen
    Real Estate Syndicator · Milwaukee, WI · Member since 2018 · 1k+ posts · 907 votes
    7y

    I invest heavily in the Milwaukee market.  It's a great market in my opinion.  Although the metrics aren't as attractive as other markets, the metrics still look good!  In return the competition is slightly less compared to other big markets.  We host a monthly multifamily meetup in the Milwaukee area if you are ever in the area!  Feel free to reach out if you have any questions. 

    2Reply
  • Art Perkitny
    Specialist · Cleveland, OH · Member since 2018 · 232 posts · 348 votes
    7y

    @James Peluso

    As others have said, there is opportunity in Milwaukee. 

    With that in mind, I suggest digging deeper by studying the neighborhoods within the city to identify the areas with the most opportunity!

    To help with this I have include below a map containing risk scores for areas within Milwaukee.

    The scale is A to F and is generated by comparing eight different market risk indicators.

    9Reply
  • Brett Kash
    Flipper/Rehabber · Milwaukee, WI · Member since 2016 · 153 posts · 84 votes
    7y

    @James Peluso

    Welcome! I am new to real estate investing in the last two years and have been active in the Milwaukee since then. I own a duplex and am expecting an accepted offer on 5 more units today actually. Also just finished my first flip project. Feel free to PM with questions as I am not that far from where you are now!

    2Reply
  • Marcus Auerbach
    Investor · Milwaukee - Mequon, WI · Member since 2010 · 5k+ posts · 7k+ votes
    7y

    @Brett Kash congratulations on the AO today!!! I hope I did not just jinx it for you ;-)

    @James Peluso Milwaukee is a very interesting sandbox to play in with a lot of different neighborhoods and most of them at much different price points than the East coast! Milwaukee is also often a bit missunderstood as an easy ATM - a lot of OOS investors see the prices and get excited, without understanding the details. So the bad news is, there is no free lunch here either lol - you are facing tough local competition and we have many very active investors. That beeing said I work with a lot of OOS buyers and we have a pretty good system on how how to handle and how to finance even. I'll send you a PM to find out a bit more what you are looking for and if we can make that realistically happen for you!  

    6Reply
  • Daniel HymanBusiness Member
    CPA · Milwaukee, WI · Member since 2016 · 2k+ posts · 1k+ votes
    7y

    Milwaukee definitely has some all-star investors and team members. Several of them are right here on this thread. 

    I would highly recommend networking with them.

    My Online Accountant572 Reviews
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    4Reply
  • Erin M.
    Rental Property Investor · Milwaukee, WI · Member since 2018 · 30 posts · 11 votes
    7y

    @James Peluso @Marcus Auerbach is the man if you're needing a realtor!

    1Reply
  • James Peluso
    OP
    Rental Property Investor · Fair Haven, NJ · Member since 2019 · 19 posts · 4 votes
    7y

    Thank you everyone for your input. I have already taken some valuable information and steps. 

    0Reply
  • Shawn AckermanPro Member
    Real Estate Entrepreneur · Mid West, East Coast · Member since 2015 · 3k+ posts · 1k+ votes
    6y

    @James Peluso Have you take the next step to invest in the Milwaukee Market since 8 months ago?

    0Reply
  • Slim Geransar
    New York, NY · Member since 2020 · 8 posts · 16 votes
    6y

    @Marcus Auerbach Hi Marcus, just found this thread. Send a connect request. I’m an OOS investor and looking in Milwaukee. Would like to jump on a call sometime if you have time.

    0Reply
  • Marcus Auerbach
    Investor · Milwaukee - Mequon, WI · Member since 2010 · 5k+ posts · 7k+ votes
    6y

    @Slim Geransar already confirmed! Looking forward to a chat - Milwaukee has become a very competitive market. We went live with two awesome single family listings on Thursday and we have booked 62 shoings for the weekend between the two of them!! I will be printing and reading (yikes) a whole stack of offers on Sunday!  Granted, not every listing takes off that crazy, but you get the picture. Good news is that we have been seeing good appreciation over the last years and will continue to do so, so the shift in demographics keeps fueling the invetory shortage, which drives up prices with no reliev in sight.

    2Reply
  • Connor Rice
    Member since 2020 · 21 posts · 10 votes
    6y

    @James Peluso what podcasts are you referring too? I’d like to check them out

    1Reply
  • Shawn AckermanPro Member
    Real Estate Entrepreneur · Mid West, East Coast · Member since 2015 · 3k+ posts · 1k+ votes
    6y

    @James Peluso Welcome to Milwaukee. I’m across the pond in NYC and Milwaukee is my go to market for buy and holds. All the best man

    2Reply
  • Account Closed
    Property Manager · Milwaukee, WI · Member since 2019 · 21 posts · 9 votes
    5y

    What areas of Milwaukee are you currently looking to invest? The Property Management company I work for in here only manages in certain areas, due to systematic racism and poverty for over 60 years. The Quality of the areas is important, isn’t it? Feel free to respond here or DM directly, i would be happy to share current market rent rates along with sharing our experience in different pockets throughout Southeastern Wisconsin

    0Reply
  • Calvin OzanickBusiness Member
    Property Manager · Janesville, WI · Member since 2017 · 708 posts · 297 votes
    5y

    I would love to pick your brain into looking about an hour west in Rock County, Wisconsin. The Janesville and Beloit markets are phenomenal places to invest and you can invest limited capital because the market is so affordable. Many major businesses have relocated and grown in this market which creates a perfect area to own rental properties. We have low vacancy rates and very high price to rent ratios. If you have time and would like to chat about the market, I am more than willing to set up a phone call in the near future!

    Wisconsin Property Managers4.7414 Reviews
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    1Reply
  • Antonio CuccinielloPro Member
    Investor · Austin, TX · Member since 2016 · 531 posts · 310 votes
    5y

    @James Peluso I am from NJ and I agree with you. Have you done any in depth location research on Milwaukee with data points?

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    0Reply
  • Marcus Auerbach
    Investor · Milwaukee - Mequon, WI · Member since 2010 · 5k+ posts · 7k+ votes
    5y
    Originally posted by @Antonio Cucciniello:

    @James Peluso I am from NJ and I agree with you. Have you done any in depth location research on Milwaukee with data points?

     Antonio, you might find some answers about Milwaukee here in my market update videos

    1Reply
  • Mike D'ArrigoPro Member
    Turn key provider · San Jose, CA · Member since 2010 · 4k+ posts · 3k+ votes
    5y

    @James Peluso I'm a big believer in choosing a market that best meets your investment objectives. Is Milwaukee the best fit for you or are you swayed by the fact that you like the area and have family there?

    0Reply
  • Euric Ramirez
    Member since 2020 · 14 posts · 7 votes
    5y

    @Marcus Auerbach

    Hello Marcus,

    Could we connect?

    1Reply
  • Marcus Auerbach
    Investor · Milwaukee - Mequon, WI · Member since 2010 · 5k+ posts · 7k+ votes
    5y

    Yes sure - you can find my contact information on my BP profile page. Also a link to my Youtube channel with lots of info about Milwaukee.

    1Reply
  • Account Closed
    WI · Member since 2019 · 77 posts · 10 votes
    5y

    good luck to your investing in milwaukee! Im a madison local and If I wanted business in milwaukee it would be commercial. But that's just my personal goal. Milwaukee has a few okay areas.. but be very diligent with your resources.... neighborhoodscout? 

    0Reply
  • Nathan Lebherz
    Milwaukee, WI · Member since 2019 · 7 posts · 1 vote
    5y

    @Brett Kash How are you doing nowadays? I’m in a similar position to James, but I am currently renting in Milwaukee and looking for a duplex!

    0Reply
  • Mitch Messer
    Lender · Playa del Carmen, México · Member since 2014 · 2k+ posts · 1k+ votes
    5y

    Hey @Marcus Auerbach, I just wanted to thank you for your excellent YouTube market update videos for the Milwaukee area! I love your focus on analyzing and presenting the relevant data necessary to make informed investment decisions.

    Well done!

    2Reply
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