All Forum Posts by: Account Closed

Welcome, Carlton! Lots of folks in Milwaukee on BP from what I can tell - I'm new here, myself. Sounds like you're on a good path - cheers to your continued success.

Welcome! It's always interesting to hear what others are doing in the area. My goal is to start investing in Milwaukee area, but have been in Chicago for the past 5 years. Currently on the NW side - Dunning/Portage Park.

Sounds like 2014 is going to be a good year for you!

Thanks @Dan C. - I'll go look that up. That's exactly the sort of tools I'm looking to learn about in the area. I know the Chicago area equivalent, but am still trying to get up to speed in the Milwaukee area.

Agreed on all points, @Dawn Anastasi

Clearly, I've rethought my initial reaction, hence the post here looking for input.

Thanks for the thoughtful replies so far. Good points all around.

What would be your reaction if you saw indication of police activity at a property you're researching on Google Streetview? My immediate reaction was to toss the property aside - don't want to inherit problem tenants or other potential headaches. I'm curious if seasoned investors feel similarly. Would you feel similarly if the police activity was at the property next door?

This is the image that sparked the question.

Result is, consumer wins. Competition drives prices down to levels where businesses barely profit. In the case of rentals, competition should drive down rental prices to a point where landlords barely profit.

My initial thought to this line of reasoning is that if renters are a dime a dozen, as you describe, there is little incentive for landlords to lower rent. In a market with fewer renters, they can afford to be choosier, and thus drive the market re what they're willing to pay. In a market with plenty of renters, people are happy to have a roof and will pay the going rate with fewer demands.

Congrats - very exciting! I'm hoping to do the same thing in the coming months. Glad to hear everything has gone smoothly thus far.

Glad to hear all the positive words about the training. Granted, I'm new to the field, but I'd never heard of a similar program in other areas where I've lived. A friend who works for a property management company attended the Milwaukee seminar, but I was curious to hear if investors had the same positive impression of the program that she did.

@Christian Carson - I'll definitely have to look at the numbers a bit closer. From what I've seen so far, the price per unit seemed to be more favorable in 4 unit+ buildings, and my quick calculations based on rent in comparable buildings made the ROI look better on those properties, too. Perhaps it's a difference in markets? Now that you've mentioned it, I'll be sure to keep an eye out to see if my initial assessment was off the mark.

I haven't listened to the latest podcast yet, but I'll be sure to give it a listen over the weekend. Is there something inherent to duplexes that you like over 4-units, assuming all other things (chiefly ROI) were equal? My inclination is toward more units, since with a larger building, we would centralize our holdings and potentially have fewer big ticket repairs (ie one roof to replace instead of 2).

Everyone else - I appreciate the discussion of the pros and cons of other financing options. Thanks a ton for weighing in. No matter which way we decide to finance, it's always good to know we have options.

I'm new to BP and REI, but learning so much here. My husband and I have been saving for just over a year, and are looking to purchase a multi-family home to owner occupy in the next few months in the Milwaukee area. We would eventually like to purchase multiple MFHs to rent and manage. I'd love to meet with other investors in the Milwaukee area and get involved with a REIC once we relocate.

Location specific: has anyone been through the landlord training seminar that the city of Milwaukee offers? Would you recommend it?