I'm somewhat new-ish to the Milwaukee market and I'm hoping to expand my network here. I'm currently buying 1-2 properties a month in an effort to help as many military/veterans own cash flowing rental properties here. Our mission is to help military/veterans get started down the path to financial freedom by owning rental real estate. I'm focused on SFH and 2-4 units that will make great rentals. My business partner and I have built what we think is an amazing team on the ground, but we'd love to connect and meet more people that invest and offer real estate services here. We'd like to scale and get to 3-5 properties a month.
Are any buy & hold investors in this forum? What do you think are the best zip codes for owning rentals? Do you think Racine/Mt Pleasant is a good focus area because of Foxconn? Or are there better areas with better rent-to-purchase ratios?
I'm also looking for local lenders that can help our buyers get long-term financing for rental properties and for doing cash-out refinances when we do the BRRR strategy.
Lastly, are there any suggested local REIAs or meetups? I'd love to join the group if there is an online presence and come to a meeting when I'm in town.
I look forward to connecting with everyone here. If there is anything I can do to help expand your business please let me know.
Welcome to Milwaukee. You will find lots of good answers and connections here. I have been investor long before I became an agent and you can always send me an email with any questions you have about Milwaukee.
As far as Foxconn I believe you don't need to worry about location too much, the deal has such a magnitude that if it goes through it will have cascading effects throughout SE Wisconsin, at least 60 minutes around the main plant.
I can certainly hook you up with a few local lenders. Milwaukee has a great stock of 2 family properties; which I would favor over 4 family as they tend to be in lower grade areas. Milwaukee will look cheap to you, but my recommendation is to stay away from low income and high crime areas and invest in areas with better school districts, especially if you are investing for someone else, you want to make sure you are buying a quality asset that will perform well past year one.
See you around!
I am a buy and hold investor as well as property manager. The Kenosha/Racine market is extremely competitive right now so be sure to bring your A game and be prepared to move quick if you consider that area. If you want to capitalize on the FoxConn wave, you can look beyond those areas. Milwaukee County is likely to see change as a result as well as southern and western Waukesha counties.
Brew City Investors is a very active org. They have page on FB which is their web presence so it's very active. They have monthly meetings as well. Check them out.
@Stuart Grazier I would love to hear more about your business model. I invest in single families in the Milwaukee market. I agree with Marcus, you’ll definitely want to make sure you have boots on the ground that you can trust here and that understand the different neighborhoods, etc. It sounds to me though like you are assisting veterans in becoming investors, not in purchasing homes, correct? If this is the case, I’d think you’d have more flexibility.
Milwaukee REIA and of course Brew City REI (disclosure that our company is an administrator of this group) are very active groups.
What areas have you done deals already in? Have you been buying in Milwaukee?