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Updated over 5 years ago on . Most recent reply

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How to decide between two markets?

Posted

Hell there!

So I live in Wisconsin and I'm currently trying to decide which of two cities I should start investing in, these being Madison and Milwaukee. From what I can gather they're both good cities but I just can't decide which one to choose. I plan to live in Madison so there's an advantage to investing closer to home, but at the same time Milwaukee has the bigger population and area. Any of you wonderful people have any input?

Preferably I'd be able to invest both cities after a while but for now I'm just looking at investing in one( I say that but it'd be in a couple of years since I'm still in High School). 

Also for later reference how do you decide which markets are worth investing in? And if you're willing to share (AKA tell me your secrets, wise old user) what resources do you use to find out if a particular market is worth it?

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Marcus Auerbach
#1 General Real Estate Investing Contributor
  • Investor and Real Estate Agent
  • Milwaukee - Mequon, WI
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Marcus Auerbach
#1 General Real Estate Investing Contributor
  • Investor and Real Estate Agent
  • Milwaukee - Mequon, WI
Replied

@Victor Martinez Lazaro there are many criteria you can apply to determine where to invest - it's a little bit like asking "What is the best car?" - reply: "For what? Robbing a bank, towing a boat, hauling kids,..??"

I believe the best market for you, is the one you know well and you invest in. Every metro area has many submarkets and satelite markets you can sidestep into - if you don't like the center.

Scott likes rural areas and is highly successful. I invest in Milwaukee, but not in the center. In fact we pulled out of Milwaukee propper and consolidated and expand into the northern suburbs. Why? We are moving more money with fewer properties. And a very practical reason: because that's where I live and I don't want to drive 45 minutes to meet up with a contractor and check on todays progress.

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