In state or out of state

[Teresa Thomas]

Hello! My husband are debating buying our first property locally to be close to it (we live in Madison, WI) so looking to buy in a small town outside Madison because it’s so expensive here. Thought about Janesville, Racine, Beloit area. Milwaukee is really a hit or miss. Been in WI my entire life, I know Milwaukee very well, great prices, but the neighborhoods are NOT good.

We have also been looking at turnkey companies, most out of state, and have the company manage our properties. I’ve seen some really good PM/Turnkey companies out there.

We will have about 20k to invest on our first property and 5k in reserves. Want small, multi-family or single family that cash flow at least $200/month.

What would you do as your first, newbie experience?