New Investor: Milwaukee

[Kayla Burt]

Hello , I’m a recent college grad in California and I’m super motivated to begin my real estate investing career . I have awesome credit and a fair down payment but I seem to have a hard time being motivated to buy anything in California as market prices are so high. I feel as though I would get more bang for my buck elsewhere . I have been looking at Wisconsin or North Carolina as I’m fairly familiar with these states and the houses seem to run from less . Would you recommend long distance investing for a beginner ? And if so, What are the steps I should be taking to make this happen ? I realize finding a realtor and doing my own homework is major key to all this but I just need a little bit more guidance as I rather not make any MAJOR mistakes . Please help in any way you can with any advice ! It’s much appreciated! Thanks !

[Jack Medford]

Welcome to BP Kayla. I grew up outside of Los Angeles and moved to Wisconsin about two years ago. I can confirm the houses run for much less than California. I moved to Madison, but primarily invest in Milwaukee due to the rent to price ratios. You definitely have to be careful if you're going to invest out of state, but it can be done. Especially since it sounds like you know these markets more than the average out of state investor. 

My personal recommendation is to find properties that are near turn-key. Dealing with rehabs from afar is not easy, especially as a newbie. This also gives you a chance to get to know your market and also test out the management you decide to use without exposing yourself to the additional risks of rehab. 

Anyway, I'm always happy to discuss investing, especially when it consists of Milwaukee or Wisconsin. Feel free to reach out anytime. Best of luck!