All Forum Posts by: Gregory Geddes

@Gregory Geddes I know you said that you would like to stay in the Shorewood area, but Milwaukee has many neighborhoods that are growing and have more potential for appreciation. Not by any means am I saying to purchase a house and bank on the appreciation. When first starting out, it may be better to diversify by investing in several 100-200k properties instead of 200k to million dollar properties in the Shorewood area. This will also help to build momentum in your investing. When you invest in a more expensive product, there are typically less people that are able to qualify to rent the units, which can cause a higher rate of vacancy, thus killing cash flow. On the other end, some people specialize in higher quality rentals and do very well. It is very much a niche sector and takes time to develope into this type of investor. Good luck on your future investments!

I have thought about that quite a bit. In your opinion what type of areas would be worth looking in to?

Since I would plan on living in the property and have a pretty busy full time job I’m trying to avoid a major life change. Primarily in the commute to work. My main job is northwest of the city so my commute is like 10 min right now.

Right now I am looking at the lower end of this market. So I guess I would like to start with in my area, even if it is not the end all be all of deals, mostly just to start. If there is an area close by that would be worth looking at I definitely would be interested.

Thanks

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Thanks for the kind words.

But yeah in general right now Shorewood is a bit expensive. Right now I am looking at bank finance.

I have enough for a down payment but not enough for a massive rehab. Partly because I would be planning on doing a majority of the work myself. I do electrical work and carpentry as more of a hobby at this point but in the past it was more of a side job.

So I am really good at the budgeting and fixing side of things, but I've been spending a lot of time researching financing and tenants.

I also want to start physically looking at houses. Since the math and theory of a lot of things make sense on paper but far less helpful without a real world example.

@Rebecca Knox I will check out Brew Cit REI where would be best for that? And do you have any upcoming events?

@Brett Kash I have been looking at Riverwest as well but I have not seen many houses that have caught my eye. But I also haven't seen many in person so that doesn't help. At least with Shorewood there have been a few open houses that I have stopped at.

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I've been looking at buying something for over a year now. Now I want to actually start.

I live in 53211 area and would like to stay here if possible. I'm flexible on what I'm looking for but primarily what I would like is to fix up a duplex.

Any suggestions and recommendations would be appreciated.

3 Votes

All Forum Posts by: Gregory Geddes

Gregory Geddes has started 1 posts and replied 4 times.

Post: Duplex as an AirBNB investment

Post: Looking to start. Milwaukee Area

Post: Looking to start. Milwaukee Area

Post: Looking to start. Milwaukee Area