All Forum Posts by: Dave Carpenter

Conrad Soboniak - welcome to BP, the Milwaukee area group is growing and getting more and more involved!

I currently live in Cedarburg, and love it. I grew up just south in Mequon so know the area well. There are certainly investment opportunities, but typically higher value. There is not much under the 200k mark for duplex type properties, however, there are a few SFHs around the 100k price point.

If you are ever in town let me know and I would be happy to give you suggestions for homes and/or investment properties in the Cedarburg/Grafton area.

I would eventually like to end up investing where I live too, but the price point is a bit high for me right now.

August 29th works for me!

I vote August 28th at 6pm at Bar Louie at Bayshore Mall.

Welcome Peter Gray! I know a contractor who lives up in your neck-of-the-woods that does a good job. I'm sure he would love to do some local work rather than commuting down to Milwaukee every day. let me know if you want his info.

Shawn Sorter welcome to BP!

I agree weeknights 6pm or later work best for me. Monday are not good for me usually.As for location, I vote somewhere near Bayshore mall (near where I work)!

Jonathan Orkin this might be a great fit for you too!

Welcome Kurt! You are in good company with packer fans around here! I only wish I were an owner of the team too.

What do you like about the west allis area? I live north of Milwaukee, and have a duplex just east of wauwatosa and really like that area, but hear a lot about west allis for investing.

I agree with Dawn A. and Jenkins Ramon about the rules for city employees. One of my tenants is currently a public school teacher in Milwaukee and that was one of the main reasons they were looking in my area. When they moved in over a year ago, she needed to live in the city limits. I know they are paying attention to these laws as they are more interested in moving towards the suburbs. It will be interesting to see how these laws (or lack of prosecution) will effect the rent in Milwaukee. That has me considering more strongly investing in the suburbs, particularly the northern ones. Only problem there is the buildings are more expensive

Nate R. - welcome to BP. As you have already discovered it is a great place to ask questions, learn and make connections.

I too have a duplex and a SFH and am interested primarily in buy and hold. What market are you looking at for buy and hold?

Anthony Barbato - I would echo what most have already said and simply share my story as it is quite similar to yours.

I was about 25 (2 years ago) and interested in RE so began saving money planning to buy a duplex, live in half and rent the other half. I ended up buying a duplex via an FHA loan (3.5% down for owner occupied properties) I immediately rented the other half and was living rent free. I was able to spend that year making improvements on the property to make easy to manage when not living there.

About a year later I got married and my wife and I bought a single family home together and moved into that. The trick here is that with an FHA loan you typically need to occupy the home for at least a year before you are able to move out and rent the whole property. This now has allowed me to own a duplex which I lived in for a year, and now also a single family home. The duplex is still cash flowing about $400 per month and I spend a fairly limited amount of time "dealing with it". It has really been a great experience for me so far, and I recommend it to anyone.

Go find a duplex in a decent area and commit a year to living there and you can do it for 3.5% down very easily!