Milwaukee, WI can't be THAT bad...

15 Replies

I could be wrong, but it seems as though finding deals in Milwaukee is like finding Hoffa or Bin Laden... IMPOSSIBLE! It seems like the market here is oversaturated with investors with cash, private lender-connections, etc. Someone like me with no money, no credit, and VERY little experience... I might be better off investing OUT of my area...

Anyone else feel this way??

Finding deals in even tough markets can be easy you just got to have an effective marketing campaign.

Advertise on free sites like craigslist and backpage that you buy houses. Look for motivated sellers on those free sites too.

Drive for dollars. That's where you hop in your vehicle and find houses that are in distress like vacant homes.

Advertise and search in your local paper and join your local REI club that is a great place to network in your area.

I go to our local REI club, but they are starting to charge at the door... and when I say I'm broke, I'm BROKE!

Also, I seem to find more sellers there then buyers!

Also, I've put ads on CL, but they've been removed for whatever reason. How can I make ads that STAND OUT?

Contact me and I will give you some TIPS. You must first change your way of thinking.

You can join one of the volunteer groups at your local REIA group and that will get you in the door. See there is more than one way to skin a cat. You are only looking at it from the one angle.

And yes, you are right many say that they are buying, but the TRUE buyers are not advertising as much as the WHOLESALERS. Everyone has become a wholesaler, so if that is the case you have to be pro active and realize that THIS TO SHALL PASS.

Then what, everyone will become a what buyer again. Do not get discourage, continue to focus, focus and focus.

Renae - As I've said in other threads, while you're building up your finances the learning here on BiggerPockets is free! Keep reading up and turn that negative attitude around. I keep hearing things like, I can't, I'm broke, etc. Focus on things like what you want to accomplish, and how to get the knowledge to make them happen.

Good luck!

Renae,
I'm sure part of it is the FIBs coming up there with cash, fresh off the Chicago market, getting shocked that a condo may actually cost less than 300k and buying without thinking. ;-) Your solution is simple. Get a map and draw a circle around Milwaukee that is a 1.5 hour driving radius. Look for smaller populated cities within that radius and see how you do.

As far as the REIA, if you can't afford to go to one, then start one. It's cheaper to start one than to join one if you're smart about how you do it. There are restaurants with free meeting room space, marketing can be done through craigslist, start with 2 or 3 people attending and recruit them to recruit others. And don't worry about whether or not you feel "qualified" to start and lead a REIA. Most people who start REIAs have little to no actual experience in investing when they start it. One even told me he started a REIA so he could get free trainig and it grew to over 300 members.

Tim

Thank you; you all have blessed me with great advice! May God bless your business & investing, as well as mine! Keep the great advice coming to all those who need it....

Originally posted by Tim Wieneke:
Get a map and draw a circle around Milwaukee that is a 1.5 hour driving radius. Look for smaller populated cities within that radius and see how you do.

As far as the REIA, if you can't afford to go to one, then start one. It's cheaper to start one than to join one if you're smart about how you do it. There are restaurants with free meeting room space, marketing can be done through craigslist, start with 2 or 3 people attending and recruit them to recruit others. And don't worry about whether or not you feel "qualified" to start and lead a REIA. Most people who start REIAs have little to no actual experience in investing when they start it. One even told me he started a REIA so he could get free trainig and it grew to over 300 members.
Tim


I'm terrible with distance. When I look at a map, I have no idea how to do a 1.5 hour circumference...

As for the REIA & Craigslist... I have tried to post ads but gotten flagged! That hasn't stopped me though-still pushing!

Renae,
From Milwaukee, Madison is about 1.5 hours west, Oshkosh is about 1.5 north, and Evanston, IL is about 1.5 hours south. And, there is Lake Michigan to your east.

-MunirN

HOW THE HECK DO I NARROW DOWN AN AREA WITH THAT KINDA COVERAGE? After all, I struggle with ADD-that is going to be torture! How do I kmnow what areas haven't been "touched" :)

Renae,

You are a noobie, that's great because so am I. You need to realize one crucial error in your thinking:

This is 95% you and 5% others NOT the other way around.

You seem to get frustrated because you did something and it didn't work. Right? You need to figure out why. If your craigslist adds keep getting deleted you need to find out what you are doing wrong.

You are on here which is a great step. You have joined an area rei club or are going occasionally which is good too. You need to keep building credit and cash while you expand your knowlege base.

You say you hav ADD. This means you have trouble focusing on an end (real estate earnings) due to getting lost in the menutia of the deal (craigslist, finding deals, radius knowlege). I suggest you do what I will be doing soon to help me focus; write down a flow chart of a deal from start to finish. Can't? Sure you can. You just have a few blanks you need filled in I bet. If you do this it will help you understand the whole picture so you can then ask specific questions and get specific answers. For example:

Your question- "how do I find deals?"

Specific answerable question-"What should I look for on craigslist to determine if a seller might be motivated?"

or

"What is a Sherrif's sale"

or

"how many investers typically use GIS MAPPING for initial due dilligence?"

I dont mean to sound harsh or critical at all. I've just seen enough of your macro forum questions to finally say something I hope is helpful.

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