Wholesaling REOs in Milwaukee

[Julia Shevchenko]

Hi BP community. 

A group of investors and I have come to realize that there is an opportunity in Milwaukee to buy properties that are REOs as well as from the city. 

Option A: build a team and rehab from out of state, exit by selling to home buyers, and/or renting for 2-5 years. 

Option B: do traditional wholesale assignment to other investors that will flip. 

We will be doing all of this from California. My question is who has done these type of deals as out of state investors, and how was it?

TIA

[Darren Budahn]

Be careful on some of the city owned homes. Much of the inventory is going to be in terrible areas. These are homes that have often sat vacant for years.  Many will need more money in repairs than the house will be worth when you are done. Owner occupant homebuyers will be virtually non existent in these areas.