Up + Coming Milwaukee Neighborhoods?

Question

I would like to invest in a neighborhood that's got a hipster vibe and has historic duplexes. I've got a long family history in the Milwaukee area but currently live in CA so don't know the city well. Looking forward to your thoughts. Thank you!

Darren Budahn · Answer

Bay View, Riverwest, and the East side will all have older duplexes and the hipster clientele.

Donald D Michna · Answer

I see West Allis and West Milwaukee on the upside for the potential to be the up and coming area. It is know for being a blue collar area, but there has been a lot of investment in the past few years in the area. Take a look at the link below.

https://www.bizjournals.com/mi...

I also like St. Francis and areas south of Bay View. Bay View still has deals to be made, but the area is very competitive.

Marcus Auerbach · Answer

Up and comming is an interesting concept - looking back at the last ten years the neighborhoods that have performed the best are the ones that were always known to be good.

Riverwest has been up and comming since my wife went to college parties there. Brewers Hill is probably the best example, but the proximity to high crime is still a challange. Bayview seems overpriced for what it is relative to other areas in Milwaukee. West Allis has been my favorite for years - bought my first rental there in 2007, even though it was never hot, it was always solid and safe.

And then we have a new concept - https://www.nearwestsidemke.or... - I am a bit sceptical, because this would mean a full 180.

Donald D Michna · Answer

@Leyla Ahmadi With the market the way it is, properties in the areas mentioned will be difficult to close on due to the high demand, but the properties are out there. As you probably already know, these properties need a little more TLC. A cash offer will always put you on the top of the list when presenting offers, so this will help you have the edge over others presenting offers.

Marcus Auerbach · Answer

A neighborhood is made up by people and not by houses! Fixing up a few houses does not change a neighborhood. If you want a neighborhood to change, either the people who live there need to change their behavior, habits, values and culture or option two different people need to move in.

Both take generational timeframes!

Adam Gollatz · Answer

@Leyla Ahmadi that’s probably doable in some of the areas for instance in Riverwest, but in bayview it will be tougher since most properties needing rehab don’t hit the market.

Adam Gollatz · Answer

Brewers hill, Riverwest, lower east side, bayview, walkers point, Washington heights.

Leyla Ahmadi · Answer

@Darren Budahn @Donald D Michna @Adam Gollatz @Matthew Meunier @Marcus Auerbach

Fabulous input, thank you all! Is it realistic to look for duplexes under $150k cash in some of these areas? Looking to do $20-50k in rehab.

Matthew Meunier · Answer

Cudahy, Jackson Park, Lyons Park & other SW West Allis propers have a lot of old properties with new faces being given as long time owners sell. Can I say up and coming? Perhaps not. But Cudahy would be one I’d watch benefit most from all the development Bay View and Walkers Point has seen.

Darren Budahn · Answer

I feel your pain on Bay View. I’ve lived in the neighborhood for 15 years but I remember passing on rentals  in like 2012/2013 in Bay View thinking they were priced too high. Oh well.....

Up + Coming Milwaukee Neighborhoods?

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