Where in Milwaukee?

Question

I'm thinking about looking into Milwaukee as a place to start investing later this year.  Anyone have any experience in the market?

Brett Kash · Answer

@Dan Miklosz

Milwaukee is a great market with a lot of experienced investors willing to share what they know. Get connected with the Brew City REI Group on FB as Rebecca suggested and try to make it up for a meetup or REIA event if possible to start building those connections. Good luck!

Jack Medford · Answer

I've been investing there a little over a year. I'd suggest starting with @Dawn A.'s e-book about the Milwaukee market, which can be found on her website www.coreprop.biz.

What is it that first attracted you to Milwaukee, and what type of investing do you plan on doing?

Rebecca Knox · Answer

Milwaukee is a very active and close knit community.  I think it's one of the best things about our market---the people--I am sure you will have no issue find the resources you need for any questions. Dan, feel free to join Brew City REI Club. It's an extremely active, free local REI forum of 1800+ active investors where we all help each other.  If you are prospecting the Milwaukee market, I believe the group would be very helpful to you.

Jack Medford · Answer

You are definitely picking a good market. Cash flowing multi family properties are pretty abundant in Milwaukee. Have you spent any time in Milwaukee at all? There are a lot of great neighborhoods, while also some that should absolutely be avoided. Could be worth it to drive up and check some out for yourself.

The NW side, for instance, scares a lot of investors. However, it still has a lot of decent pockets. Other areas that I've been looking at recently are on the south side, such as Walker's Point. Cudahy and West Allis are also some very promising areas. This isn't comprehensive, of course, but just some quick spots off the top of my head.

There are a lot of active Milwaukee investors who spend a lot of time here on BP, so hopefully some more of them pop in and give there take.

Rebecca Knox · Answer

If you end up investing in Racine/Kenosha, let's connect too. At the moment, I am working on a three pack of duplexes in Racine as well. You can definitely still get deals in that area despite the Foxconn speculation.

Donald D Michna · Answer

@Dan Miklosz if you are looking at opportunities north of the Illinois boarder other potential locations could be Racine, Kenosha or other surroundings areas. I know a few people investing in these areas where there are plenty of opportunities and growth. You can reach out or join the KRREIA on Facebook, it is the Kenosha/Racine real estate group. I’m not trying to push you away from the Milwaukee area as there are plenty of opportunities in Milwaukee, but areas south of Milwaukee have seen many small to massive (Foxconn) sized investments coming into the area and these residents will need housing.

Dan Miklosz · Answer

Thanks for the tip!

I'm looking for cash flow rental properties and Milwaukee is a lower cost option than my hometown of Chicago.

Stuart Grazier · Answer

@Dan Miklosz we really like the 53209 and 53218 zip codes. We try and stay away from the high crime areas and we can find some great rental properties in those areas. Property taxes seem to be a bit lower there than other areas in the city which helps with cash flow!

Gregory Chadwell · Answer

I’ve got quite a few doors in Milwaukee and I’m about  to list a 4 unit from a relative next Tuesday

Dan Miklosz · Answer

@Rebecca Knox thanks for the tip!  I will definitely look into Brew City

Where in Milwaukee?

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