Where would you invest in Metro Milwaukee?

[Rick Michaels]

I'm new to the Milwaukee area (Wauwatosa). What area of metro Milwaukee would you invest in and why? Specifically small multi-family homes.

[Marcus Auerbach]

The beauty of Milwaukee is that you have so many different micro markets and will be able to choose one that suits your preferences. I assume non owner occupied? If your goal is cash flow with limited captital you will typically end up with a property in an MPS district. If you are looking for a blance between cahs flow and equity, you will pick a little higher priced area. Housing inventory also varies geogrphically: Milwaukee grew in two spurts: the 1920 and then 1960. The duplexes bulit in those periods are fundamentally different. The 1920s come with tons of curb appeal, amazing woodwork, often large rooms and tall ceilings (if you are closer to the lake), smaller kitchens (no real space for a fridge and dishwasher) and closets. Interior work is typically a little more expensive, because of lathe and plaster and the elaborate and non standard millwork. Think custom size doors, hand built on site. The 1960's shoeboxes lack curb appeal, but are efficient, larger kitchens and closets. Easier to work on, cinderblock basements, sump pumps, standardized doors and millwork. Depending on where you go in Milwaukee, you will find that most neighborhoods are fairly consistent, as they were built at the same time for the same type of people and social background. Also know there are real duplexes and there are converted single family homes. The latter typically have a compromised upper and no full size stair case to bring furniture upstairs.