Updated almost 7 years ago on . Most recent reply
Out of state investing
Hi BiggerPockets! I'm a newbie and am interested in learning more about out of state investing - specifically in Milwaukee. I currently live in Utah and the prices generally seem way too high to find anything that could provide a decent ROI. I'm having a hard time finding anything that meets the 2% / 50% rules here in Utah. I will continue to look in Utah, but in the meantime I'm interested in exploring other options. I've heard great things about investing in Milwaukee and have looked on Zillow and the prices seem like steals. The properties generally seem to easily meet the 2% / 50% rules and the barrier to entry also seems a lot lower. I would be interested in purchasing a 2-4 unit building with conventional 20% down. Because I don't have a lot of capital I'm hoping to get into something for less than $10,000. I'm interested in learning more about the this area and people's experiences investing here as well as out of state investing. Any advice would be great. Also looking to network with as many people as possible in the area. Thanks in advance!
Most Popular Reply
@Michael Douglas Christensen I completely understand your reluctance. You have to follow your gut. I'm from NY and my entire portfolio is in Milwaukee. Trust me, I know where your coming from. When your ready, it may be good to learn about investing in the Mill market from someone who as actually done it from a distance. I'd preface our discussion by stating I'v spent 18 months building and vetting my team prior to investing a dime in the market. You have to see the city for yourself.
Persist and you'll win!!!!!
I got your back.