New member from Fullerton, CA

7 Replies

Hey BP!

My name is Gene and I am a new member from Fullerton, CA. I have two single family rental properties in Houston, TX and currently looking to purchase another property in the area to fix and flip as well as additional rentals for cash flow.

My ultimate goal is to replace my W-2 income with cash flow from rental properties. While I could continue to look into purchasing additional rental properties in Houston, I am giving some serious thought to cities in the Midwest because of a generally lower price point and potentially better price-rent ratio.

Right now, I have my eye on Milwaukee, WI for single family and multifamily rental properties and plan to visit and check out the city early next year. I would like to find and connect with local banks/lenders and realtors who work with investors, as well as other investors familiar with Milwaukee with any advice.

Thank you for checking out my intro and looking forward to connecting and learning from others on BP!

Welcome to BP!

My name is John and I am also from Fullerton. I noticed that we have similar goals for our real estate careers. If you would like, please send me a message and we can exchange numbers, and hopefully meet up some time and discuss our respective goals. I hope to hear from you!

Best,

John Berekoff

@Gene Regan

Welcome to BP! I too am in California and looking to invest in Milwaukee. I am looking into duplexes. I am looking to take the same exact steps as you are right now and hoping to acquiring in January/February 2018. 

All the best to you,

Jorge

@Gene Regan ,

Welcome to the best place to be for investors! I too am from California and investing out of state. I would love to do a fix and flip and California like you and I have been brainstorming as well:) Again, welcome!

Thanks everyone for the warm welcome!

@Jorge Ruiz Keep me posted on your progress. I’d love to hear your experience and any advice you have to pass along. Not yet sure if I’m going to buy but I plan on visiting Milwaukee around that Jan/Feb time frame to check out the area and will make a decision from there.

@Eunice L. Where are you thinking about doing your fix and flip?

@Bryan Pham I plan to do a fix and flip in Houston and looking to do a buy and hold/rent in Milwaukee.

@Gene Regan Welcome to BP, it is a great resource and I am sure you will feel the same way after using it for a bit.  

Milwaukee is a great place to invest as I am a transplant to the area from Chicago several years ago now. There is lots of reading material on the very high CAP rates that can be obtained here. While that is very true, those also come with a lot of baggage as well and usually are very high touch properties. On average, if you are looking to invest in a stable part of the market, you should expect between a 6 - 7.5 CAP rate.

Lots of exciting stuff around the city with a new Bucks arena being built, the new Northwestern Mutual building, the couture (http://www.thecouturemilwaukee.com/), and then of course the whole Foxconn deal that is taking place south of the city that is expecting to bring 13000 jobs within 5 years.  

Again, its a great place to invest and if I can be of assistance in any way, please do not hesitate to reach out.

Tyler

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