Remote Investor Looking to Add Properties in Milwaukee

[David Miller]

Hello!

I am a remote investor and am building my portfolio in Milwaukee. I am closing on a single family home in a couple of weeks and want to add either high cash flow single family homes or multifamily homes in the next couple of months. I'm open to BRRRR or turnkey - whatever makes the most financial sense.

I’d love to connect with fellow investors and folks who have experience investing in Milwaukee. If you’re in the Nashville area, I’ll buy you a beer or coffee and would love to pick your brain.

Thanks!

Dave

[Marcus Auerbach]

@David Miller Milwaukee is a very muliti faceted market witch a wide variety of neighborhoods and price points. For some context, I have been buying for more than 10 years, mostly SF, and initially in different areas, the last 6 or so years only in the suburbs. Fortunatly we never got on the Airbnb train, I remember too well what the last recession did to travel and tourism - I have seen it live in Vegas, empty casinos, 17,000 construction workers on the Aria City Center job sent home mid project. If money get's tight, travel is the first thing to cancel. 

Milwaukee has experienced strong appreciation as well, about 8% in 2019, at the moment a bit more due to the covid inventory squeeze. Median home prices are approaching 200k. You can watch a monthly Milwaukee market update video here, the June issue will be online in a few days.

About your plans for Milwaukee. Aside of the sociodemographic and crime issues the problem you have with lower end properties is that after a few years you find out that capex exceeds cash flow. So you definitley want to account for that and have at least a rough capex schedule for however long you are planning on holding the property. Go through the main components: mechanicals, roof, driveway, plumbing, etc..