Hello Madison! What area make sense.

8 Replies

Greetings.  My name is Tony and I am brand new to the BP community.  

I am looking to invest in my first rental property in the next few months.  My first property I would like to look at would be no more then 50k.  I know I can't reach that near Madison but if I expand out a bit there are opportunities for properties.  What have other folks experienced?  I am also curious of how far people are willing to travel to rental properties if they do not have a property manager.  Any info would be greatly appreciated!  Thank you!

Congratulations!  What an adventure you are choosing to go on!  But questions that help me help you sort out the answer to your question - What type of investment property are you looking for? Single tenant lease?  Multi-family?  Duplex, Triplex or a Four?  50K as the price or as what you wish to put down??  Let me know so I can best help find what you're looking for.  Tori

50k is very doable in both Janesville and Beloit.  Don't expect much appreciation though, you will be investing for cash flow in that price range.  4th Ward is pretty rough, but it's like paradise compared to most "big city" rough areas.  My Realtors are a great Husband & Wife team in Janesville, PM me if you want the contact info.

Best of Success!

I would love to start with a duplex or more to start but I think that is pretty tall dreams to start.  I am looking at more single family.  I would like to stick within 30-45 minutes of Mount Horeb if possible.  I am not sure how comfortable I would be if I have to travel a ways (expecially during reno).   I will have to also will have to come up with help for financing as well.  I hope that helps.

I have a 3 bedroom house that I would be willing to sell for around $40,000 in Beloit if there weren't Realtor commissions involved. It was bought at a sheriff's auction and have been debating if I should sell it this month or rent it out. I'd be willing to fix everything up, satisfy the DIHLR stipulation and even have my property manager get a solid tenant in place for a few dollars more :)  I highly suggest looking in the Janesville/Beloit area, I'd also recommend a property manager if you are further than a 30 minute drive, they are well worth the $50/mo.

This post has been removed.

Hi Chris,

Thank you for the offer.  It is very generous.  I think I would prefer going at my first investment a bit closer to home.  Not only for a bit more control but also to gain some knowledge about being a landlord.  Thank you though.

Originally posted by @Chris Heeren :

I have a 3 bedroom house that I would be willing to sell for around $40,000 in Beloit if there weren't Realtor commissions involved. It was bought at a sheriff's auction and have been debating if I should sell it this month or rent it out. I'd be willing to fix everything up, satisfy the DIHLR stipulation and even have my property manager get a solid tenant in place for a few dollars more :)  I highly suggest looking in the Janesville/Beloit area, I'd also recommend a property manager if you are further than a 30 minute drive, they are well worth the $50/mo.

Create Lasting Wealth Through Real Estate

Join the millions of people achieving financial freedom through the power of real estate investing

Start here