All Forum Posts by: Drew Markert

Awesome job Mitchell, the place looks great!

@William Collins Good work! Looks like you're well on your way to your goal. I like the variety of ways you found your properties so far. Do you mind if I ask how you funded your first few BRRRR's?

Hey @David Benson welcome to BP!

Hey @Garrett Fox, house hacking is a great way to get started (I'm getting started the same way).  There's a lot of experienced investors on the site from the Milwaukee area, so feel free to reach out with any questions you have.  Welcome to BP!

@Simon Ghandil congrats on the first rental!  Thank you for sharing and keep up the good work

Hey @Derk Vander Molen, have you considered the BRRRR strategy? That way, you can get your cash out and keep the property for cash flow. If you check out the blog, there's a few good articles on this strategy.

If BRRRR is not an option, I think the choice between flipping or renting can be determined by how much it will cash flow and what kind of area it's in. If your goal is to quit your job, you wouldn't want to sell a solid cash flowing property in a good area. However, if the property doesn't cash flow so well and it's in an area that won't likely appreciate much, you may be better off flipping the property and reinvesting into something more profitable.

Hope this helps!

Hi Jay, I'm a new investor from Milwaukee and I definitely see where you're coming from.  I think the answer depends on what you're good at and what your goals are.  SFHs usually require much less tenant management than multi-families, but multi-families usually have better cash flow and you might be able to scale quicker if you buy right.  

A few questions that might help you clarify: how much time are you willing to spend on managing the property?  Will you hire a property manager or will you manage the property yourself?  How quickly are you looking to build your portfolio/where do you want to be in 5 years?  What areas in Milwaukee are you comfortable renting in?  What kind of budget will you have for the first purchase/rehab?  

This isn't by any means an end all be all, but the answers to these questions might illuminate which path is best for you - hope this helps!

Drew