All Forum Posts by: Clare Pitcher

Patricia- 

If you are looking into professional management, one of the first questions I would ask is about their cancelation policies as well as reading their reviews. I currently work for a property management company and we do month-to-month management. If the owners and the property managers are not getting along or seeing eye to eye there is no reason to trap either party into a year-long contract. Tring out a company for 6 months or so could help you out. There will inevitably be a bump or two in the road at the beginning of the process, but find a company with good reviews. You are hiring the PM, but they are also hiring you, so make sure it is a good fit for both of you so you can best meet each other's needs. How they communicate from day 1 will be a projection of your experience together. Let me know if you have any questions moving forward! 

Two tools we mainly use to determine average rent for a specific area within Milwuakee are Rentometer and Rentfinder. Both pulls reports from a nearby radius of rentals and gives you the average number. These tools make it very easy to find an average rental rate for any given area and are incredibly user friendly. The report attaches similar homes, number of beds and bed, square footage, a zillow link, and a link to google maps. Hope this helps! 

Thank you for your service, Travis, and welcome to Bigger Pockets. We are so excited for you in this next chapter. Please feel free to reach out with any questions. I work for a property management company in Milwaukee, a very hot rental market currently. We manage about 500 doors. Good luck with everything! 

Be sure to stop by the Welcome Home Milwaukee table this weekend at the RPA- CON for a chance to win a FREE custom pickleball set among other prizes. See flyer below for more details. Hope to see you there!

 Andre, 

Welcome to Milwaukee! Please reach out with any questions you have regarding properties, buying and holding, or property management. Our company helps people like you to reach their real estate investment goals!

Welcome Joseph! What communities are you looking to invest in? If investing out of state, I recommend building a team you trust including a realtor, property manager, lender, and insurance agent, and maybe even a mentor who has invested in the same area. Best of luck!

This is awesome! Congrats and best of luck. Will you be self-managing or hiring a management company?

Super excited for this event! Be sure to stop by the Welcome Home Milwaukee Booth. 

Everyone has stated some very important points! To make it easy for the owner we typically add this sippet to the onboarding email: 

- "Please add us as additionally insured to your insurance policy. This should be a simple request to your insurance agent, but feel free to include us in the email to them in case they have questions. Copy and paste below to make it super easy. 

Need insurance? We know a few of those. A) Hey Insurance Agent, I'm hiring COMPANY NAME to manage my rental property. Please add them as additionally insured to my policy. Their address is XXXXX  53214b) Great Insurance Agents - NAME - EMAIL of insurance agent"

For a tenant, you can let them know that renters insurance is very cheap and they can easily bundle it with their home and auto for only a few extra dollars month to protect their items if anything were to happen i.e. natural disaster .

Hey Harish,

I work for a property management company in Milwaukee and we work with many out-of-state investors. Here are some reasons out-of-state investors love the Milwaukee market: 

- Affordability: Compared to larger metropolitan areas, Milwaukee offers relatively low property prices, making it easier for investors to enter the market.

- Strong Rental Market: The city has a robust rental market due to a diverse population, including students, young professionals, and families. This demand helps ensure consistent occupancy rates.

- Economic Growth: Milwaukee's economy has been growing, with a mix of industries such as manufacturing, healthcare, and technology. This economic diversity helps stabilize the housing market.

- Revitalization Efforts: There are ongoing efforts to revitalize neighborhoods, improving infrastructure and amenities. This can lead to property value appreciation over time.

- Quality of Life: Milwaukee boasts a vibrant cultural scene, great parks, and access to Lake Michigan, making it an attractive place to live, which can boost property values.

- University Presence: With several universities in the area, there’s a steady influx of students, contributing to demand for rental properties.

- Tax Incentives: Wisconsin offers various tax incentives for real estate investors, which can improve the overall return on investment.

Overall, Milwaukee presents a mix of affordability, growth potential, and a strong rental market, making it an appealing choice for real estate investment.