All Forum Posts by: Quincy Jones

 Comment of the year

Buy & hold for sure, STR works well, flipping if you live in Milwaukee - it's too hard remote. Growing MKE just released their proposal for the new zoning ordinance, which will change the city as we know it and bring a wave of development. I'll post a YouTube video in the next few days with details. And at some point I should make one about best neighborhoods to invest.

A word of caution on "up and comming" in Milwaukee and put that on a time scale. River West has been labeled "up and comming" already in the 90s, still on the way. Harambee is much lower priced (for a reason) and only the east side of it looks the part. Brewers Hill has seen some new condo buildings along the river, but you go a few streets to the west, very differnt story. 

Milwaukee is a very linear market, things don''t change fast here. So while there is gentrification, you have to be realistic about timeframes and think in decades not years. The upside is that this linear ehviour makes it also prodictable. Areas that have been good 30 or 50 years ago are still good today.

One wildcard though.The city of MKE has initiated a projected called GrowMilwaukee, which is based on the majors vision to increase population (for fiscal reasons, more people per square mile) and they have identified the lack of midrise mixed use districts - they call it the "missing middle". And it is missing indeed. If we were to see major changes in zoning and redevelopment we could see some LA style gentrification of neighborhoods. But too soon to tell.

Sort term the redevelopment of the freeway system will set economic impulses. Contruction is about half way done on I43 and I41 and the areas served by improved access will likely see an increase in value and populatiry.

@Quincy Jones if you are on a W2, you can get a conventional 30yr loan. You would need a DSCR if you are self employed and don't have 2 yrs of tax of returns or cannot qualify for a conventional loan.

 I could be wrong, but since I have a current residence with a mortgage (the house I'm live in flipping) I couldn't qualify for a fha 203k loan. Please correct me if I am. (I am not a veteran, neither are my parents, only one grandfather)

 I could be wrong, but since I have a current residence with a mortgage (the house I'm live in flipping) I couldn't qualify for a fha 203k loan. Please correct me if I am. (I am not a veteran, neither are my parents, only one grandfather)

Hi Quincy - There are some out there with better rates. I just sent you a DM to point you in the right direction

 Study the market you are trying to invest in. Reach out numerous PMs and ask them everything you possibly can. Also, just because they are biggest in the area, doesn't make them the best. Reach out to numerous agents and ask them questions. If they are agents that work with investors, they will have answers to all your questions. Last but not least, look for properties that are tenant occupied with under market rent and have room to get them up to market. 

A word of caution on "up and comming" in Milwaukee and put that on a time scale. River West has been labeled "up and comming" already in the 90s, still on the way. Harambee is much lower priced (for a reason) and only the east side of it looks the part. Brewers Hill has seen some new condo buildings along the river, but you go a few streets to the west, very differnt story. 

Milwaukee is a very linear market, things don''t change fast here. So while there is gentrification, you have to be realistic about timeframes and think in decades not years. The upside is that this linear ehviour makes it also prodictable. Areas that have been good 30 or 50 years ago are still good today.

One wildcard though.The city of MKE has initiated a projected called GrowMilwaukee, which is based on the majors vision to increase population (for fiscal reasons, more people per square mile) and they have identified the lack of midrise mixed use districts - they call it the "missing middle". And it is missing indeed. If we were to see major changes in zoning and redevelopment we could see some LA style gentrification of neighborhoods. But too soon to tell.

Sort term the redevelopment of the freeway system will set economic impulses. Contruction is about half way done on I43 and I41 and the areas served by improved access will likely see an increase in value and populatiry.