Anyone on here investing in the Racine/Kenosha area?
I do not, too much risk in my opinion
I think Kenosha is a better bet than Racine. There is more growth and its closer to Chicago.
drugs, crime and the fact I don't really know the area well. Plus the market doesn't really go up much from the little I looked into
@Craig Carmichael as @Patrick Bertrandt mentioned, Racine and Kenosha are pretty different from one another. Racine has more crime, etc. Kenosha has some growth opportunity in my opinion with the industry thats coming in as well as lots of commuters to the northern IL burbs. Could also look at other communities around there: Salem, Pleasant Prairie, etc.
I'm planning on investing in Kenosha. The West side of town doesn't see much crime and the growth here is easy to see, especially since the city has begun adding new lanes to roads near the interstate in response to all of the new restaurants and the increased "tourism" from nearby cities.
Racine has seen a couple new developments as well, but in my opinion, the risk is too high. Not every part of Racine is plagued with crime, sure, but as a general area I'm holding off on it.
I invest some in Racine for rental properties. I grew up in Racine and my day-job is there, so I'm pretty comfortable knowing where to avoid. Over-simplifying, I'll look at 53402, 53405, and 53406 as probably fine. It's probably not the best city for flippers, but does have some very nice areas like Wind Point where you might find opportunity.
Awesome thanks for the input guys. Gonna try and spend some time down in the area to get to know it a little better. @Nikolai Lumpkins or anybody else in the area let me know if you would want to meet up sometime.
Depends on what you are looking for.....As many have said on here Racine is very different than Kenosha. Kenosha is more of a homogenous lower-middle, upper-lower income city whereas Racine is much more segregated with some very affluent areas that are nicer than Kenosha and some less desirable poor areas that are worse than Kenosha. Of course there is one very specific area of Kenosha that I would avoid as well, but generally speaking it seems more homogenous.
I own properties in both areas, and I would say that given the area of my SFR rentals, I tend to get more desirable tenants in Racine than I do in Kenosha generally speaking. Nevertheless, if you buy in the wrong area, you can end up with very undesirable tenants in Racine.
I've found that I can get slightly more for rent in Racine than Kenosha, but it is offset by the higher tax rates in Racine.
I'd also add that you can still find deals in Racine on SFR that give a decent yield. Kenosha market is getting too hot for decent yields.
I've got a condo and 2 SFR in Kenosha all on the Southside, they perform pretty well. In general, as it relates to Kenosha...best to just stay away from the middle of the city in my opinion.
I'm considering selling my condo, 2 bed/2 bath at Hwy 50 and Green Bay Rd. if anyone is looking feel free to message me, always easy to rent...have had the same tenant in there for 4 years. My focus has shifted closer to where I live (Arlington Heights, IL).
It's much easier to find a deal in Racine rather than Kenosha in my opinion. However, we tend to get a lot of seller leads for properties on the lake, especially Twin Lakes, which have great price points for a lakefront properties. Many are people from Illinois who own the house and had plans to retire there but time has escaped them.
We are closing on a Racine probate deal right now, a duplex in 53404...it was 8k, $15k SOW. It will be used as a rental.
Justin, I have a partner who only buys condos in Milwaukee and Racine. If you are interested in selling, please message me the price and rent information. Thanks.
I have a friend who's an investor in Kenosha, and has 20+ properties now. He doesn't screen any tenants, and said he hasn't had any issues thus far. Is that a common thing in that area to not screen tenants? His properties seem to perform very well, as they are mostly multi-family performing at around 2.5-3% Income-Expense Ratio. I am investing in Round Lake Beach (IL) currently, and seeing great returns, but am considering partnering up with him on a few deals since the returns seem to be amazing. Just wondering how much risk/stress landlords in Kenosha are seeing? Thanks.
I have 3 rental properties in Kenosha. When I started off, I was not that great about screening tenants. I ended up with a couple awful tenants (criminal records, prior bankruptcies, etc.). I learned my lesson after that. I use TransUnion's SmartMove now, tenant pays for their application fee, site runs criminal, credit, etc. You should absolutely be screening you tenants.
we are a big flipper in Illinois. Looking for help in Racine Kenosha if you know anyone
I am rehabbing my first BRRR duplex in Racine. There are some neighborhoods I don't even stop to look at, but my first building is in an improving neighborhood. I am anticipating an overall improvement in Racine with the now Foxconn plant that is being built.
What a difference a year or so makes. Here comes Foxconn. Also if anyone has been down Hwy 20 East of the 94 freeway you will see many others building and or expanding such as Insinkerator. Then there is the infrastructure of the new freeway (currently under construction). It may be time to start re-considering the Racine/Kenosha areas as a potential investment area. That being said, the caveat would be....the nicer areas within.
Does anyone have a good referral for a Property Management company that services Racine, WI?
@Rocky Jones , talk to Kelly Jensen at Guy Lloyd, Inc. They service only the Racine area and we have been pleased thus far with their service of our properties.
I bought my first house hack/ side by side duplex in Racine 53405. There are some areas of Racine I would stay out of. The new Foxconn project hopefully will help with the demand for rentals in the area.
We have been looking at our options there. Recently, we considered self storage, but the price of land has skyrocketed since the Foxconn announcement.
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