Milwaukee neighborhoods recommendation

[Omer Bar]

Hi.

My name is Omer.

I'm a real estate investor looking to buy in Milwaukee.

i'm looking for properties of about 3 beds, single family homes at about $75,000 ARV for a buy and hold (rental properties).

i'm doing my research and i would love to hear recommendation about specific neighborhoods i should look at. 

and also in your opinion what is the best metrics to look at in regard to those neighborhoods.

Thanks!

[Joseph Walsh]

I can tell you with Milwaukee, it's much more local that zip code.  There is often quite a bit of a difference in renter quality just by traveling 8 blocks in any direction.  So, whatever searches you do, you need to be discriminating.  cash flow is usually best in some of the C area's bordering D areas.  You can get a better quality tenant in the C areas bordering the B areas, but pay 2x for the property, and only get another $50-100 a month  Then again, a $40k duplex vs a $75k duplex's cash flow all depends on what updating you do, and all the headaches and turnover costs.  In either case, I would look to limit the "investment" to 5-10k max (the high end only if roof/hvac is needed).  Both area's will have duplexes available, a lot of hard working people, and a gradient of crime from "surprisingly a lot" to "surprisingly little" ("border" to "border" i mentioned above).  I would strongly recommend finding a potential PM that also does realty in the city and surrounding areas.  Personally, I am pulling out of the city and looking toward more "b" type area's just outside, or within but on the borders.  But i am looking to move toward more longer term tenants that will maintain the home a bit better.  Don't bank on appreciation.  it's all over the map these days.