First Duplex Purchase in Milwaukee, WI

[Michael Johnson]

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Milwaukee.

Purchase price: $128,250
Cash invested: $23,500

Purchased a low maintenance cashflowing duplex in a good neighborhood in Milwaukee
CoC: 22%

What made you interested in investing in this type of deal?

I am a Chicago resident and was looking at neighboring markets that had a lower cost to entry. Milwaukee checked every box for me: Great B/B+ class neighborhoods, the ability to cashflow, above national appreciation averages (in particular neighborhoods) and an abundance of duplexes.

How did you find this deal and how did you negotiate it?

This property was listed on the MLS and was brought to my attention by my agent, Michael Henry

How did you finance this deal?

Conventional loan

What was the outcome?

This property was recently remodeled and needed very little to no work

Lessons learned? Challenges?

Trust your agent who knows and understands the market. I was eager to get my first deal under my belt so when I initially started analyzing deals I would sometimes plug overly optimistic numbers into the BP calculator. My agent, Michael, would always bring me back to earth by providing relevant insights and helping me set more realistic expectations, which was some of the most valuable guidance I could have received. Its important to keep emotion out of the process, no matter how eager you are to close that first deal.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Michael Henry - Agent