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All Forum Posts by: Mike Lowery

Mike Lowery has started 22 posts and replied 171 times.

Post: Milwaukee, WI buy and hold

Mike LoweryPosted
  • Rental Property Investor
  • Milwaukee, WI
  • Posts 180
  • Votes 104
Joe Martella if you have any questions about certain areas of the city, please let me know, I'd be more than happy to offer my insight. I am a firefighter/paramedic with the city and know the areas fairly well. Nathan Schoenborn can you PM me additional information on the property you are selling?

Post: New Investor From Milwaukee, My Situation, and Plan

Mike LoweryPosted
  • Rental Property Investor
  • Milwaukee, WI
  • Posts 180
  • Votes 104
Personally, if I were you, I would rent out my condo and purchase a duplex. Then live in one side while you rent the other out. You'd basically be living for utilities at the duplex if you find the right deal, plus hopefully making cash flow from your condo. The biggest concern you'll have is determining if you can rent out your condo. Look into this with your condo association before proceeding

Post: What are the A/B areas in Milwaukee?

Mike LoweryPosted
  • Rental Property Investor
  • Milwaukee, WI
  • Posts 180
  • Votes 104
Matt Costello the area on Oakland is close to UW-Milwaukee therefore you are looking at typically renting to college students. It's a pretty safe location for rental income, lower crime and a fair amount of appreciation, however you are probably going to pay a fair amount in property taxes, purchase price, etc. If you have any other questions, feel free to ask.

Post: What are the A/B areas in Milwaukee?

Mike LoweryPosted
  • Rental Property Investor
  • Milwaukee, WI
  • Posts 180
  • Votes 104
I would say upper east side, east side, downtown, third ward, bay view, far south side. The taxes will be relatively high in these areas and will affect overall cash flow. If you have specific areas or properties you are looking at, let me know and I can give you a better idea.

Post: Second Property?

Mike LoweryPosted
  • Rental Property Investor
  • Milwaukee, WI
  • Posts 180
  • Votes 104
Dave Carpenter in the original post he stated N 43rd. If it's Miller Park Way then that's south of I-94 and considered S 43rd, which I I am sure you know. N 43rd ends at North Avenue, if I remember correctly, which is about 10 blocks south of the location I was describing. I guess we would need an address to provide better insight. Also is the park he is referring to Washington Park or Miller Park?

Post: Second Property?

Mike LoweryPosted
  • Rental Property Investor
  • Milwaukee, WI
  • Posts 180
  • Votes 104
Brandyn Dietman N 43rd is Sherman Blvd. Sherman and Burleigh is where the BP was burned down by the riots. Burleigh and Fond du Lac is where the other buildings burned. It's definitely a rougher spot. Not sure exactly what you are looking for but just offering a perspective from someone who works the street in that area.

Post: Wholesaling

Mike LoweryPosted
  • Rental Property Investor
  • Milwaukee, WI
  • Posts 180
  • Votes 104
Shawn Ackerman I'd be interested in learning more about your deals in Milwaukee.

Post: Cost of Roof - Milwaukee

Mike LoweryPosted
  • Rental Property Investor
  • Milwaukee, WI
  • Posts 180
  • Votes 104

I owned a Cape Cod in Bay View, just over 1,000 sq. ft.. Not too many valley's (increases costs) and removing the chimney also. Estimates ranged from $4500-6000. This was two years ago. I have a few firefighting buddies who can do complete tear-offs and installation for a reasonable price and about a two day turn-around. 

Post: New Member from Southeastern Wisconsin

Mike LoweryPosted
  • Rental Property Investor
  • Milwaukee, WI
  • Posts 180
  • Votes 104
Welcome! Dive head first and don't be afraid to ask questions

Post: basement mold/water issue; need contractor and Advice - Milw WI

Mike LoweryPosted
  • Rental Property Investor
  • Milwaukee, WI
  • Posts 180
  • Votes 104
I owned a property with some foundation issues and the prior owner used Gadish to do the work. They installed metal beams to brace two walls that wouldn't pass inspection and installed drain tile along the two walls where the tile was damaged. Also put in a sump pump and haven't had issues since. They offer a lifetime warranty that I believe is transferable and the cost was around $9K I believe. It's best to get it solved now obviously because when the spring melt hits the water will be coming into the basement if it's not properly taken care of.