New Investor interested in Milwaukee
Hey everyone,
New investor looking to get my first property. I am in Chicago and local market is out of my budget for what I am looking for. I was wondering what everyone’s thoughts are on investing in Milwaukee? Ideally, I am looking to get a multi-family (duplex or 3-flat) strictly as an investment property. I was looking to spend around 200k give or take couple thousand above or below. I have been to Milwaukee a few times, however not enough to know the areas in detail. Please share! I am all for running the numbers all day, but since I am not a local it is difficult to see if a property is truly a good deal or not.
Most Popular Reply
The City of Milwaukee is a competitive market. They are good neighborhoods and bad ones as well. You also have to consider the city and county regulations that exist on rental properties. Brock is right that is also comes with higher crime and less stable job growth. All the being said it's still a fair market to get into but definitely do your research. Consider joining Brew City REI run by Rebecca Knox on FB. That place is a plethora of knowledge.
The other markets I would consider which are either neither Milwaukee or at least in SE Wisconsin are Racine, Beloit, Watertown, and Kenosha. Kenosha is the most expensive market of the 4 right now IMO. Doesn't mean there aren't deals in Kenosha but generally you will pay more in that area but it does have the best projection for growth and employment really. But as Kenosha grows Racine will benefit.