New Investor in the Milwaukee Area

[David Mo]

Hello Milwaukee BP community! 

I'm a recent college graduate who graduated from UWM in 2019 with a degree in computer science. I currently work at FIS as a software developer where we create solutions for our clients in the fintech industry. While I am currently enjoying my time at FIS and what I do, I don't wish to work for someone forever. I've set a goal for myself to retire from my job at 35 through RE. 

My short term goal is to house hack my first property by the end of 2020 and at least be able to cash flow once I move out. I would also like to figure out a system to use for future purchases. Finally, I would like to spend this year learning about the nuances of the Milwaukee market as I'm not familiar with the area. 

I think that the buy and hold strategy fits my personality the best, but I'm also curious about fix and flips, wholesale, and real estate businesses in general. 

Unfortunately we're currently in the midst of an unprecedented pandemic, but I see this as a great opportunity to come out stronger. Once it's safe to go out, I would love to meet people for coffee (or tea if you swing that way.) 

Here's to a bright and successful future and I hope that we can all grow together. Thanks for reading! 

[Marcia Kreifels]

Hi! I just bought my first house hack this February in Tosa, and will be renting it out soon! I feel like Milwaukee is a good place to house hack because there’s a lot of multi families around. Seems like everyone’s doing it! 

Two suggestions. First if
you're planning to buy in the city of Milwaukee and you are running your numbers plan a little extra for property taxes. What you’d be seeing on Zillow for taxes will probably be low because it’s based on the previous year.

Second Milwaukee city hall offers a free landlord class, and I’ve heard it’s really good! I’ve never gone, and I’m not sure if I count anymore since I moved outside the city limit when I bought my place. But it might be worth checking out!