Long term hold investing Milwaukee area - duplex focused

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Long term hold investing Milwaukee area - duplex focused

Shannon Persha
Rental Property Investor · Vernon Hills, IL · Member since 2018 · 9 posts · 6 votes

My husband and I are excited to launch our business in the Milwaukee, WI area. We have our team in place, and a realtor working with us. We are focused on duplexes in the $125k - $175k price-range. Given we are new to investing, and work full-time we are apprehensive to BRRRR right out of the gate, so more than likely looking for a property that is mostly "ready to rent," or already has current tenants. We've narrowed down our areas of focus too the following areas... Questions for the forum:

1. Does anybody have advice to lend for this market specifically, and our areas of focus below?

2. We are looking to connect with a good property manager, looking for referrals/recommendations.

AREAS OF FOCUS:  

Up Lapham Avenue

Pockets of West Allis

Waukesha

West Milwaukee

Wauwatosa 

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Amy Roberts
Investor · Warrens, WI · Member since 2016 · 18 posts · 6 votes
6y

There is a group in Milwaukee called Brew City REI Club hosted by Rebecca Knox.... I suggest you reach out to them. They have a facebook presence.

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  • Amy Roberts
    Investor · Warrens, WI · Member since 2016 · 18 posts · 6 votes
    6y

    There is a group in Milwaukee called Brew City REI Club hosted by Rebecca Knox.... I suggest you reach out to them. They have a facebook presence.

    2Reply
  • Chaim Lampert
    Milwaukee, WI · Member since 2019 · 54 posts · 44 votes
    6y

    Welcome to the area. The BRRRR strategy is great, but most of my owners bought ready-to-rent investments and they make great returns, so it definitely works. You can also Refi when the market goes about without rehabbing but that is a longer term play. So the other strategy definitely works

    1Reply
  • Pete Woelfel
    Milwaukee, WI · Member since 2017 · 138 posts · 69 votes
    6y

    Hi @Shannon Persha - good luck as you start your business.  If you're looking for a property manager I'd start with @Matt Maurice.

    1Reply
  • Matt Maurice
    Property Manager · Milwaukee, WI · Member since 2014 · 113 posts · 144 votes
    6y

    Thanks @Pete Woelfel for the mention!  @Shannon Persha happy to help however I can, feel free to reach out and "welcome" to Milwaukee!

    1Reply
  • Shannon Persha
    OP
    Rental Property Investor · Vernon Hills, IL · Member since 2018 · 9 posts · 6 votes
    6y

    Wow, thank you to everybody who responded, very helpful!! @Amy Roberts I reached out to the Brew City Group, as well as a contractors & handyman page for the area, thank you!!! @Chaim Lampert excellent feedback, happy to hear our strategy for the immediate future will fit in this market.  @Pete Woelfel thanks, and @Matt Maurice I will be reaching out.  

    0Reply
  • Rebecca KnoxBusiness Member
    Specialist · Milwaukee, WI · Member since 2014 · 1k+ posts · 1k+ votes
    6y

    Merry Christmas Amy 🙌 I recommend Matt Maurice too!

    Captain Save-A-Home LLC
    WebsiteView Page
    2Reply
  • Courtney Richards
    Real Estate Agent · Los Angeles, CA · Member since 2019 · 49 posts · 14 votes
    6y

    Hey! Checkout Nimius property management and smart assets property management. One thing to keep in mind in the Milwaukee area is turn over which could kill your returns. Make sure your property managers aren't charging a HUGE tenant placement fee every time a tenant moves.

    1Reply
  • Chaim Lampert
    Milwaukee, WI · Member since 2019 · 54 posts · 44 votes
    6y

    @Courtney Richards if the management keeps tenants happy, turnover rate is lower.

    1Reply
  • Brock Mogensen
    Real Estate Syndicator · Milwaukee, WI · Member since 2018 · 1k+ posts · 907 votes
    6y

    Milwaukee is a great market! I invest heavily in it.  Reach out to Smart Asset Realty for property management and realtor services.  They have a great presence in the areas you listed.

    2Reply
  • Daniel HymanBusiness Member
    CPA · Milwaukee, WI · Member since 2016 · 2k+ posts · 1k+ votes
    6y

    @Chaim Lampert manages properties in those areas. Reach out to him if you have done so already.

    My Online Accountant572 Reviews
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    1Reply
  • Account Closed
    Contractor · Los Angeles, CA · Member since 2015 · 887 posts · 323 votes
    6y

    @Shannon Persha

    Rebecca Knox and Matt Maurice are definitely good people to know.

    If you have a Facebook account I would recommend joining the Brew City REI club- tons of resources there.

    All the best to you!

    J. Ruiz

    0Reply
  • Shannon Persha
    OP
    Rental Property Investor · Vernon Hills, IL · Member since 2018 · 9 posts · 6 votes
    6y

    @Account Closed Thanks bud, I've gotten hooked into the Facebook page, and planning to connect with Matt Maurice in the coming week.  :)  Looking forward to it, and thank you so much for the feedback on my post.  Happy Holidays.  

    0Reply
  • Account Closed
    Contractor · Los Angeles, CA · Member since 2015 · 887 posts · 323 votes
    6y

    @Shannon Persha 

    Sounds good. Left you a colleague request and a question there if you wouldn't mind looking at it.

    Merry Christmas and Happy New Year to you as well!

    0Reply
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