Milwaukee, I need help understanding the city

Specialist · Redmond, OR · Member since 2018 · 16 posts · 7 votes

Im reaching out because we're looking at purchasing some rental properties to flip in Milwaukee. The issue i have is that I am not familiar with Milwaukee and was hoping that you could spare a few minutes to help educate me on the different areas.

More specifically: Neighborhood ratings, Crime, Rent prices in different areas. Im just trying to get a good understanding of the area to help me determine whether these properties will be a good buy or not. Thank you! -Jeremiah

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Daniel HymanBusiness Member

CPA · Milwaukee, WI · Member since 2016 · 2k+ posts · 1k+ votes

@Jeremiah Pedersen

Check out the guide that @Dawn Anastasi created. It's really a huge help in getting the lay of the land. I think it's called, "Investing in Milwaukee." You can probably find it on Google.

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Karsen Mitsche
Realtor · Milwaukee, WI · Member since 2018 · 5 posts · 0 votes
8y
What areas in Milwaukee?
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Jeremiah Pedersen
OP
Specialist · Redmond, OR · Member since 2018 · 16 posts · 7 votes
8y
Originally posted by @Karsen Mitsche:

What areas in Milwaukee?
All over the city. Zip codes where most of the houses are: 53210, 53212, 53206, 53216, 53208, 53218
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Daniel HymanBusiness Member
CPA · Milwaukee, WI · Member since 2016 · 2k+ posts · 1k+ votes
8y
@Jeremiah Pedersen
Check out the guide that @Dawn Anastasi created. It's really a huge help in getting the lay of the land. I think it's called, "Investing in Milwaukee." You can probably find it on Google.
My Online Accountant572 Reviews
Website View Page
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Jeremiah Pedersen
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Specialist · Redmond, OR · Member since 2018 · 16 posts · 7 votes
8y
@DanielHyman
Thank you, I will look and see if I can find what you recommended.
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Dave CarpenterPro Member
Investor · Cedarburg, WI · Member since 2013 · 439 posts · 150 votes
8y
@Jeremiah Pedersen I’m not super familiar with all of those zip codes, but I can tell you that 53208 consists of 2 pretty different market areas that are basically split by hwy 41. To the west (closer to Wauwatosa) you will find $200k and up duplexes whole to the east of the highway you are more around the $100k price point. These are pretty large generalizations which are intended to give you a sense of the large ranges even within the same zip code.
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Account Closed
Contractor · Los Angeles, CA · Member since 2015 · 887 posts · 323 votes
8y
@Jeremiah Pedersen
I would recommend the same guide @Daniel Hyman did. I bought it myself-great help.
Regarding the zip codes you mentioned- its been recommended to me by many investors to stay away from 53206 unless your @Shawn Ackerman. I'm sure he can tell you a lot about investing there and those types of neighborhoods.
As far as what @Dave Carpenter said I would recommend you get out there to see it for yourself. There are many neighborhoods and some do vary just as Dave stated and even from street to street.
All the best...
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Jeremiah Pedersen
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Specialist · Redmond, OR · Member since 2018 · 16 posts · 7 votes
8y
@Account Closed
Yes, I looked into that book "Investing in Milwaukee" Its exactly what I need. After talking with a few people who are from the area, I was able to get a feel for the culture and area. I like what's going on there and the book is essential. I went ahead and made an offer on 36 properties there and am currently awaiting to see if its accepted.
If so, would you be interested in purchases some? About half of the properties are duplexes and and all are currently rented.
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Account Closed
Contractor · Los Angeles, CA · Member since 2015 · 887 posts · 323 votes
8y
@Jeremiah Pedersen
Send them over. I believe my email is in my signature. Let's see what we can do.
Best,
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Account Closed
Contractor · Los Angeles, CA · Member since 2015 · 887 posts · 323 votes
8y
It is not. I'll inbox it to you.
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Jeremiah Pedersen
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Specialist · Redmond, OR · Member since 2018 · 16 posts · 7 votes
8y
@Account Closed Sounds good!
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Al Bos
Rental Property Investor · New York, NY · Member since 2017 · 2 posts · 0 votes
8y
Jorge Ruiz Jeremiah Pedersen hey I’m an investor looking to expand my portfolio and new to the market. I would love to hear your stories. What’s the best way to pass along contact information to chat? Im new to bigger pockets as well. Thanks!
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Phillip Semons
New to Real Estate · Milwaukee, WI · Member since 2018 · 6 posts · 3 votes
5y
Hey guys, I'm new to the real estate thing but I grew up in Milwaukee particularly 53206, if you need some in-depth knowledge I got you!
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Brock Mogensen
Real Estate Syndicator · Milwaukee, WI · Member since 2018 · 1k+ posts · 907 votes
5y
I live and invest in the Milwaukee area. Just like any big city there are going to be good and bad areas. There are some trendy areas like Walkers Point that are great. I personally like to invest in the suburbs surrounding Milwaukee. I'd suggest researching the different suburbs and also coming to visit at some point.
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