Areas to Start in Milwaukee
Hi all,
I'm new to real estate investing and looking to purchase my first buy-and-hold rental property in the greater Milwaukee area. I’m new to the city (but planning to stay long-term!), and I’m still getting to know the local neighborhoods. From what I’ve gathered so far, the areas can vary quite a bit from block to block, which has made me want to dig deeper into where it makes the most sense to invest.
I’ve saved up enough to comfortably purchase a more affordable rental property in the northwest part of Milwaukee, where the cash flow looks promising. However, I do recognize that properties in these areas are probably less expensive for a reason, and I want to be cautious about potential risks.
If anyone has experience investing in Milwaukee, I’d love to hear your insights! Are there specific areas you’d recommend for affordable rental properties? Where did/would you start?
Thanks so much in advance!
Most Popular Reply
Hi @Jacob Palumbo, I think location depends on your strategy. There are good buys in the Milwaukee market, but it depends on what lens your looking at them through. Do you want low energy and time investment? -> look at surrounding suburbs and a property that's been maintained, do some cosmetic updates and rent out long term. If you want to maximize your return and are willing to put in the work, you might consider medium or short term rentals in an area closer to downtown ex. Brady street, Fifth ward, Bayview.
I personally buy and hold long term rentals in the West Allis, Greenfield, and Wauwatosa neighborhoods. My properties are around the median price for a duplex. I have updated them to attract the best tenants and higher end of rents. This strategy has worked very well for me over the last 7 years.
While managing my own rentals, I am also a licensed realtor. If you have more questions about specific neighbor hoods, DM me. Happy to hop on a call.
Good luck!