All Forum Posts by: William S.

@Blake Edwards

Thanks Blake. I think a good approach is to start out financing and hit a decent number of units. Let appreciation compound, then filter. Sell the not so good ones, keep the good ones. Use the money from the sold properties to payoff the rentals you keep.

@Frank Wong

You mentioned that you financed at the beginning. What made you switch? What type of price points? Mine range from $150k-$300k. I have to finance since I don't have many units, but am considering just having three that are paid off.

That is buying cash without putting a mortgage/refinancing it later on. Do you regret not leveraging?

@Frank Patalano

What's holding me back right now is my moving history. I've lived in four different cities in the past eight years. I do have some rentals, but am unsure where to go from here. Right now, I am stabilizing them. As far as buying more I don't know what to do yet. I have a team in Milwaukee, so I may keep buying there long term. "Staying local" doesn't make sense for me because I'm always on the move. Thoughts?

As a former renter/home buyer/investor in Milwaukee I have a few things to add.

• It is very difficult to find quality rentals in Milwaukee (as a renter). The "standard" is very low in Milwaukee compared to other areas. Milwaukee also isn't very dog friendly which narrows things even more. Quality rentals are very high considering the income levels.
• Because of the lake/not much land/crime you essentially have to find a little pocket within a specific neighborhood. Not many options to choose from. The result is a lot of competition. Houses do not stay on the market very long at all!

The weather is brutal though!!! I can see people moving there from other rust belt states who are used to it, but if you didn't grow up in that weather I doubt you'd last long...

I used to live in 53222. Good area, but not good schools and enough appreciation for me.

@David M.

I'm speaking more towards building a rental portfolio.

In the past eight years I've lived in about five different cities due to work. With all of the movement that occurs in today's job market, is there really any point in investing locally anymore? Seems to me that you shouldn't tie yourself down so if you need to pack up and go you can. Thoughts?

@Pete Woelfel

Same reasons as @Daniel Idstein mentioned. Yes, there is better cashflow elsewhere, but Tosa is highly desirable and higher value homes + appreciation is a good combo. Plus, if you have to sell you'll get a buyer quick. I won't go into MKE because of schools among many other things.

@Pete Woelfel

It was bought with the kitchen remodel. The only work I've done is new gutters, interior paint, new carpet on the share staircase. I do need to update the plumbing, exterior painting, new front deck/back steps and some concrete work. It seems you either get properties done on the inside or outside in Tosa.

Once this property is cleaned up more I'll probably look to partner with someone locally to go in 50/50 on a duplex near North Ave.