Milwaukee, I need help understanding the city

13 Replies | Milwaukee, Wisconsin

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

@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. 

@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... 

@Jorge Ruiz

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.

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.