Rental Property Investor · Milwaukee, WI · Member since 2019 · 15 posts · 35 votes
My wife and I are new to investing in rentals. Our first property was a duplex for $35k with new electricals, new garage, new driveway, new fencing and recent roof. We put an additional $5k into it (I did the work myself).
We interviewed our prospective tenants 18 months ago and we still have our original tenants. They pay $700/m each ($1400 total) and always pay on time.
We just picked up another duplex ($31k) last week with a long term renter (10 years) in one unit paying $600/m and the upper unit vacant but just renovated.
We will be closing on a three bedroom/ 2 1/2 bath condo this week for $14.5k with the expectation of putting about $1500 into it (new paint and carpet). The condo fees are $203 and we already have a renter lined up for $950/m.
Specialist · Milwaukee, WI · Member since 2014 · 1k+ posts · 1k+ votes
7y
Mareno--congratulations on your buys! I was curious where that condo is that you bought--was it in the Woodlands? We run a private, invitation only free real estate club, Brew City REI Club--you are invited to join our Facebook group. We also have meetups but we do not have 'set' times that we have them. They occur once a month but in summer we only have POP up events at other member's projects. I am also an active member of Milwaukee REIA--their general meeting the 2nd Tuesday of the month is great---free to attend your first one.