Wisconsin House Hack

[Evan Rekowski]

I am looking to buy a 2-4 unit property in Wisconsin. I have been doing broad market research in the Milwaukee and Madison area. I am looking to start off with a house hack, then eventually move more into BRRRR. I have been looking at median home prices and median rent prices for Racine, Sun Prairie, and Watertown, and none of them seem like they will have positive cash flow. Is there something I'm missing here?

If you have recommendations for other cities near the Milwaukee and Madison area that would cash flow, I would greatly appreciate the help.

Thanks, Evan Rekowski

[Peter Falk]

I agree with using sold price data and think you will see the sold terms are generally a little better than the asking terms and get a feel for what the general range is for the market.  However, in Madison, WI, I will see prices paid that won't cash flow after paying some assumed mortgage payment to acquire the property and even using the listing agent's predictions for higher market rents, so understand you wondering what am I missing or what are these buyers thinking, knowing sellers want the best terms they can get.