Quest For Milwaukee Rental Property Continues

[Patrick Ruff]

So far I'm in the process of looking for either a (relatively) affordable single family rental home in a C neighborhood or better, thinking 50-60k with between 1%-2% in rent, or a mulifamily that is more expensive overall, but roughly the same (or better) as far as rent/value. Not sure if this is achievable, although I've seen it based on certain properties on the MLS. The issue seems to be that a good majority of these are in C-/D neighborhoods and there would probably be tenant issues. I'm going to reach out to a property manager soon (Jack Medford recommended Matt Maurice who I recently connected with).

As a complete noob, I'm still building out my team, but a property manager seems to be a pretty big deal so it's good to have more advice on that. I was also reading a post about how investing out of state is a crapshoot because unless you're doing the repairs and everything yourself, then you're missing out on why real estate is a good investment. I'm not sure I believe this. Anyway, I'll keep posting as my search continues, but to people looking into the Milwaukee area, I would recommend getting Dawn's book that describes several of the areas.

Sorry if this post seems rambly, I'll keep at it and hopefully the knowledge sharing quality increases with my own knowledge quantity.

-Pat