Foreclosed Properties in Milwaukee

[Chari Nash-Cannaday]

Hello All, I have been a member of bigger pockets for a few months. I have listened to almost all of the podcast on my commute to and from work, while getting dressed in the morning, and while washing the dishes. I have two properties, one currently rented out in MD (my tenant is great and just asked to renew for 2 more years) and one in VA that I am living in until the end of the year, at which point I will turn it into a rental. As you can imagine, prices are expensive on the east coast so I am looking to make my next investment in my home town (Milwaukee, WI). My entire family still lives in or around Milwaukee and my father will manger the property for me (plus I’ll check on the property during my trips home). I want to know if anyone has experience with foreclosed properties in Milwaukee. Specifically, the scope of work and estimated cost posted by the City. In your experience, does the scope of work only include the cost of materials or does it include labor? If you have purchased a foreclosed property in Milwaukee, did you end up spending more or less then the estimated cost outlined in the scope of work provided by the city? If anyone has advice based on your experience dealing with foreclosures in another state, I would like to hear about your experience too. Thanks, Chari

[Dawn Anastasi]

I've purchased 2 properties from the City. Their scope of work is more expensive in some cases than I can get a contractor to do the job for, but on the flip side, they give only the bare minimum to repair the property. I like to go a little above and make my rentals nice.

[Chari Nash-Cannaday]

Thanks Dawn! This is helpful.