All Forum Posts by: Joaquin Soto

It has been a while since I have written in the Forum but I have taken another step into the world of Real Estate investing. Now, I have a pre-approval letter from a bank lender to purchase a 2 to 4 unit property. However, now I need a good real estate agent that has knowledge in real estate investing to find a great property to invest in. There is no better place to ask than here in BP. Does anyone recommend someone or is any real estate agent out there available?

@Brandon Stevens Thanks for the advice. I will take a look at Washington Heights and Bay View. Also, the same question to you: how is the 53204 area up and coming? Is there something that I am not seeing? I have been here 5 years now and crime has gone up dramatically since I first got here; higher crime lowers property values.

@Logan Allec I agree with you and I don't want to keep throwing away money down the drain. Thanks for the spreadsheet. It will be very helpful.

@Brandi Carballo Thanks for the advice and for sharing your personal experience. Depending on the area I choose to invest in will depend, if I can afford a duplex, tri-plex, or a 4-plex.

@John Cohen Thanks for the advice. The plan is to buy as big as I can initially afford.

@Alan Rekowski Thanks for the advice. I didn't know the 53204 was a great place to invest. I have read the articles on BP about avoiding "PIGS" and I thought most of the properties in the 53204 area are "PIGS", according to the articles written by Brandon Turner. It seems like you found some gems. I will look in the areas you mentioned and the plan is to live in the property so that I can avoid throwing money away in rent.

@Cashmere Robinson Great point on looking for a distressed property to add instant equity with the work put into the property.

@Account Closed Thanks for the advice and good points to consider. Quick question: how is the 53204 area up and coming? Is there something that I am not seeing? I have been here 5 years now and crime has gone up dramatically since I first got here; higher crime lowers property values.

Thanks @Dave Meyer. @Dave Carpenter thanks for the pointers! I will definitely look in those areas. I had heard from others that the Bay View area is up and coming. I will check it out, along with the other areas you mentioned.

@Bill S. Greeting fellow Civil Engineer. Yes, Civil Engineering is a rewarding career but it does have a short ceiling, as far as profit goes. 

Thank you all for your time and advice. I am really looking forward to all the possibilities that real estate investing can bring!

Thank you all for your sound advice @Sam Erickson @Michael Kopay @Ramon Jenkins @Dave Carpenter. I really appreciate your time. @Dave Carpenter I have a lot of homework still to do on where to buy the property.  I currently live in the 53204 area because the family is nearby; however the area is a little rough so I don't want to buy here. My significant other does not want to live too far from her family but also understands that we need to invest in a nicer neighborhood. Thus I was thinking on a 20 min radius drive from the 53204 area. I want to buy in an area where there is potential appreaciation. Any advice? Or should I be looking further out of my radius? 

I am currently a Civil Engineer but I am very intrigued to get started in the real estate world, on a part time basis. I am very excited because of the high ceiling and opportunity that real estate can provide; in fact it has no ceiling or peak to reach. I am in the Milwaukee WI area and I am looking into buying my first property by mid 2016. I currently rent an apartment, so I can either buy a single family home for my wife and I, or I can buy a multifamily property. I have read that you can obtain good financing opportunities for first time home buyers and can buy up to a 4 or 5 unit property and still get this sort of financing. Any recommendations? It seems straight forward to me. If I buy a single family home I will not be buying an asset, like Kiyosaki says. However, if I buy a multifamily property, I will be buying an asset and the property will pay itself. Furthermore, if I do the first time home buyer financing, I will have to live in one of the units of the property. Any advice?? Should I buy a 2 unit property or hold out to buy a 4 - 5 unit property?