Milwaukee, Wisconsin

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Milwaukee, Wisconsin

Michael Braatz
Oconomowoc, WI · Member since 2016 · 55 posts · 8 votes

Hello all!  My name is Michael Braatz.  I live in Oconomowoc WI about 20 miles west of Milwaukee.  myself and two friends have decided to get into real estate after a few years of trying to find something to start together.  I am currently in a leadership role in an environmental services department at a hospital (housekeeping).  I have always wanted to start a business of some kind, but I have settled on Real estate because of the relatively low start up costs involved.  Plus, I really love the numbers side of things, and a lot of what I researching has come down to numbers and logic.

My initial goal in Real estate is to acquire my first property (rental) within the next 7 months.  We plan to look at West Allis, Wales, or Oconomowoc (in order to be close to our property).  Long term I would like to conservatively add another property every two years. My business partner found BiggerPockets a few weeks ago and I have been reading and listening every since.  

Thanks!

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Svetlana Foley
Realtor · New Berlin, WI · Member since 2016 · 118 posts · 47 votes
9y

Welcome to BP! Lots of locals here, and we are a very helpful bunch!

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  • Svetlana Foley
    Realtor · New Berlin, WI · Member since 2016 · 118 posts · 47 votes
    9y

    Welcome to BP! Lots of locals here, and we are a very helpful bunch!

    2Reply
  • William Newman
    Real Estate Broker · Milwaukee County, WI · Member since 2014 · 89 posts · 38 votes
    9y

    Good afternoon Michael,

    Welcome to BP!

    Good find by your partner... :) Bigger Pockets will provide continuous knowledge and advice from people that truly care about your success. We are all here to become the best investors, contractors, agents, developers and whatever else under the sun that we can be. In addition to reading and listening, make sure to jump out there in tge forums and ask questions. Use the key words that will garner the results that will suit you best.

    Last but not least, please reach out to me if you need any assistance in the West Allis markets. I attending school and previously worked in the area, so I am quite familiar with the market and neighborhoods.

    Happy Investing,

    William

    0Reply
  • Daniel HymanBusiness Member
    CPA · Milwaukee, WI · Member since 2016 · 2k+ posts · 1k+ votes
    9y
    Welcome Michael Braatz !
    My Online Accountant572 Reviews
    WebsiteView Page
    0Reply
  • Brian Klean
    Elkhorn, WI · Member since 2016 · 22 posts · 6 votes
    9y

    Welcome @Michael Braatz!! I work relatively close to your area, if you ever have any questions feel free to PM me!

    0Reply
  • Michael Braatz
    OP
    Oconomowoc, WI · Member since 2016 · 55 posts · 8 votes
    9y

    Thank you very much for your offers Brian and William.  I will be sure to take you up on them!

    -Michael

    0Reply
  • Mike Lowery
    Rental Property Investor · Milwaukee, WI · Member since 2013 · 180 posts · 104 votes
    9y
    Welcome to BP! This is definitely the place to get your questions answered and advice offered. If you ever get into the city of Milwaukee I would be happy to share my knowledge of locations and neighborhoods with you! Happy Hunting!
    0Reply
  • Zach Hicks
    Real Estate Agent · Wauwatosa, WI · Member since 2015 · 14 posts · 2 votes
    9y

    Welcome to BP!

    I'm an agent in the Milwaukee area and I'm familiar with both Lake Country and West Allis, so reach out if you need a hand!

    0Reply
  • Joe Martella
    Rental Property Investor · Cherry Hill, NJ · Member since 2015 · 626 posts · 495 votes
    9y
    Welcome. I too am a new investor and looking to invest in Milwaukee from out of state. I have spoken to many people on here already that have selflessly offered their help. I want to say that everyone's eagerness and willingness to help on the Milwaukee area of the message board sets them apart from the other areas of BP. It shows that people have a real dedication to the area and where there seems to be a movement to bring in investors and change the area. Just from my short time of research I recommend that you take advantage of the free landlord class Milwaukee has to offer.
    1Reply
  • Michael Braatz
    OP
    Oconomowoc, WI · Member since 2016 · 55 posts · 8 votes
    9y

    Thanks for the advice Joe! Perfect timing too, my partner just mentioned that he was starting to scour the Milwaukee area forum.

    0Reply
  • Michael Henry
    Real Estate Consultant · Brookfield, WI · Member since 2014 · 873 posts · 350 votes
    9y

    Michael,

    Welcome BP the site will serve you well. If you have any questions or just want to chat feel free to reach out. Good Luck!!!

    Thanks,

    MH

    0Reply
  • Ned CareyPro Member
    Moderator
    Investor · Baltimore, MD · Member since 2008 · 17k+ posts · 13k+ votes
    9y

    @Michael Braatz welcome to BP.  you  look like a young guy. If you stick to your plan of just a property every two years you will do quite well. and be very happy you did so.

    1Reply
  • Account Closed
    Wholesaler · San Diego, CA · Member since 2015 · 48 posts · 12 votes
    9y

    Hello BP'ers: any feedback on this? A friend and I are looking to invest out of state.  WI came up as a possible area.  For those of you who invest in Milwaukee - what is the feedback for the state? @karen dinopoli

    1) Is it a landlord friendly state?  A family friend told us that you cannot evict tenants in the winter since it's too cold there. T/F?

    2) How are the returns on a typical 3/2 or 3/1? 

    3) Vacancy rates that you all are experiencing?  Rate of churn? 

    4) How are the quality of renters in the area?  

    5) Any specific areas that you recommend? N, S, E, W, Central? What class would you rate the areas?

    6) Is the population growing?

    7) Strong industry?

    Anything else you would want to share about the area?  I realize you can get some of the data from City-data.com but that type of research is more generalized does not provide 'what the locals know'. 

    Thanks for the feedback in advance!

    0Reply
  • Pat Parrillo
    Realtor · Milwaukee, WI · Member since 2014 · 147 posts · 73 votes
    9y

    Welcome @Michael Braatz buy and hold is a great approach to building long term wealth. Stallis and Oconomowoc should have a good mix of Single Families and Mutli Family's. Are you and your partner leaning more towards SFH or duplexes/Multi Family? That's just one place to start.

    Best wishes.

    0Reply
  • Michael Braatz
    OP
    Oconomowoc, WI · Member since 2016 · 55 posts · 8 votes
    9y

    thanks for the tip Pat! We have a preference for multi, but are certainly willing to and will look at SFR as well.

    0Reply
  • Ruairi Herraghty
    Basking Ridge, NJ · Member since 2016 · 1 post · 0 votes
    9y

    Hi Everyone,

    I'm also interested in Milwaukee. I have seen a number of deals which have a really high return. Is there a catch that I need to be aware of i.e. higher maintenance due to cold weather, economic issues. I am ok to take a on a bit more risk to get a higher return but it would be great to get an insight from some of the local investors. I would really appreciate any guidance.

    Thanks

    Ruairi

    0Reply
  • Shawn AckermanPro Member
    Real Estate Entrepreneur · Mid West, East Coast · Member since 2015 · 3k+ posts · 1k+ votes
    9y
    Michael Braatz confrats on beginning your REI journey. Here are a couple keys to success. 1. Persistence beats resistance. 2. Take action 3. Don't let the fear of failure stop you.
    0Reply
  • Caleche Ryder
    Santa Monica, CA · Member since 2017 · 9 posts · 4 votes
    9y
    Lena Hanson Hi! I'm looking into Milwaukee also... I saw your post was about 5 months ago. Did you end up purchasing there? I'd love to chat with you! Thanks:) Caleche
    0Reply
  • Hans M.
    Investor · St. Louis, MO · Member since 2019 · 55 posts · 18 votes
    7y

    Any update, @Michael Braatz, on your progress? I'm a new investor, living in MKE, looking to possibly invest here. Thanks!

    0Reply
  • Patrick Ruff
    Member since 2018 · 24 posts · 10 votes
    7y

    Similar to other posters I'm looking into the area, have read Dawn's book and am curious to hear how things are going.

    1Reply
  • Andrew SyriosPro Member
    Moderator
    Residential Real Estate Investor · Kansas City, MO · Member since 2014 · 10k+ posts · 5k+ votes
    7y

    Welcome to BP Michael and good luck investing!

    Podcast Guest on Show #121
    0Reply
  • Brock Mogensen
    Real Estate Syndicator · Milwaukee, WI · Member since 2018 · 1k+ posts · 907 votes
    7y

    Welcome to BP.  I also live and invest in the Milwaukee area.  We host a monthly meetup in Waukesha, I will DM you the details if you would like to attend. 

    1Reply
  • Erin M.
    Rental Property Investor · Milwaukee, WI · Member since 2018 · 30 posts · 11 votes
    7y

    @Brock Mogensen  I would be interested in the details - we live in Waukesha County.  I've been going to MKE meetings and didn't realize there are ones in Waukesha!  Could you please DM me?!  

    Thanks!!!

    0Reply
  • Rick S.
    Real Estate Investor · Waukesha, WI · Member since 2011 · 5 posts · 3 votes
    7y

    Please DM with the meet-up details.

    0Reply
  • Scott Rogers
    Rental Property Investor · Neenah, WI · Member since 2019 · 154 posts · 105 votes
    7y

    A warm welcome to BP from a Fox Valley newbie.  Anyone want to race to 10 units?  That's my 5 year goal.

    0Reply
  • Aseem Kumar
    Rental Property Investor · Milwaukee · Member since 2018 · 28 posts · 7 votes
    7y

    Hello, im a new investor in MKE area. Could someone direct me to these meetups?

    0Reply
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