House Hack 4 Unit in Milwaukee

3 Replies

Hello BP- it has been little bit.  I started this adventure 14 months ago and have acquired 3 rental properties with 5 units in the Dixon, IL area. Those are all going very well.

Now, I am not looking into Milwaukee to house hack a 4 unit using FHA financing. I am here to reach anyone who is in the Milwaukee area that could be knowledgeable about the area, have house hacking or investing experience in the area, and just could give general advice on this strategy. I have a few places picked out... Do i analyze these properties as fully occupied, as i am not a tenant? I will occupy for the mandatory year. Those in MKE what the area to go to/ areas to stay away from. any tid bits about this strategy or Milwaukee would be great.

Cheers!

@Taylor Harrison PM me. I can offer some unbiased advice as to where you could look for properties in the Milwaukee area.

@Taylor Harrison Lots of very knowledgeable MKE folks here on BP that could be an asset to you. I'm certainly happy to provide info on my neighborhood. Feel free to be in touch.

@Taylor Harrison as far as how to analyze them I would do a multi-year analysis showing the cashflow from your time as a resident and the time when it is a full rental. The normal First-year COCR will be misleading. Also build into your IRR/ CF projections whether you plan to sell the house and when and if you would take advantage of the homeowner's income tax exclusion on sale.

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