Investing in Madison WI
It is my understanding that in real estate investing, there are always opportunities to invest regardless of the market. That said, I am trying to figure out what opportunity may be available in the Madison WI area. the rental market is very strong here, 3% vacancy rate. the rents are high, property taxes are high, and very few "deals" that I can find regarding SFH or Multi Family property. The sales price is high and when adding expenses, etc. cannot find much at the 1% rule let alone anything close to that without being in a "D" neighborhood. Does anyone have experience investing in Madison? Any suggestions or ideas? My goals are to invest in 4-5 SFH then pivot to multi's (2-4plex). Thanks!!!
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I agree with you. Things on the market here now (I live and invest in Madison) are nowhere near 1%. We bought our rentals (duplexes) in 2001, so we're doing pretty well as they've appreciated, but can't find anything else here to add to our portfolio.
My neighbor is a realtor with family in construction. He buys SFH fixer-uppers from elderly (or their families) when they move on to assisted living or pass away. Then his cousins fix them up and he rents them at a premium.
Good luck! and let me know if I can help in any way,