Duplexes in Milwaukee
Lured by BP podcasts and the writings of various BP members who shall remain nameless I have made the trip to Milwaukee in search of real estate - I have found one duplex near W. Vliet and N. 38th St. - I am set to close on 6/30 and intend to make the purchase - the asking price is around $25k and the current rent is $600/unit - this is a small pocket of mainly multifamily properties located close to but away from "war zones" to the north and east, as far as I can tell. I would strongly suggest to anyone looking at Milwaukee to come to the city and drive the streets - it is pretty clear where the bad areas are. Zip codes are not enough. The area where I intend to purchase has been called a C+ area and maybe a bit better - I'm not sure. The key to this deal and why I may end up regretting it is that it needs work and one of the tenants seems to be a great handyman type who enjoys the work [free rent]. If I can count on him to pull off the repairs, this should be a good deal. If not, I may be stuck. This area is completely different from where I am living currently and I would say extreme caution is needed - probably more caution than I am using. Good to luck to all. Feedback or questions about this deal, Milwaukee, duplexes in Milwaukee, more than welcome - would love to hear about potential duplex deals or SFR deals in Milwaukee or maybe other Wisconsin cities like Madison, Green Bay. Also will be looking again in KCMO when the dust settles on this one.