All Forum Posts by: Clare Pitcher

Hi Owen! 

I currently live Wisconsin and work in Real Estate. I graduated from college in May, and I am currently doing business development (sales) for a property management company while studying for my RE license. I am so happy that I went to college and got a degree before jumping straight into real etstate. There is so much to learn between the ages of 18-22. 

From my experience, if I had started in real estate right after school, I would have very little network and little to no funds for the RE exam, CE classes, and networking registrations. My recommendation would be to take business classes at a technical college while working/ interning for a company in a field you are interested in. Then, I would try to work for a company that will pay for your license and networking opportunities. 

Right now, my company is paying for my license through the WRA, as well as all of my networking opportunities, and it has worked out much better than I imagined. You have so much time to figure out what you want to do and build a network throughout that time. My biggest piece of advice would be to find someone who is in the position you would want to be in 10, 15, or 20 years and meet for coffee. Get their advice and knowledge and maybe they can be a mentor for you. Please reach out if you have any questions and have a great day! 

Hi Emily! 

Welcome to the BP community. Investing in multifamily properties offers steady cash flow, diversification, as multiple tenants reduce vacancy risks and provide consistent income. These properties can appreciate in value and offer tax benefits like depreciation and mortgage interest deductions while financing terms are often favorable. However, the higher initial investment, property management complexity, and potential vacancy risks can be challenging. The success of such investments depends heavily on local market conditions, and maintenance and upkeep costs can add up, especially as the property ages. Additionally, tenant issues and legal complexities around eviction can make management more difficult. Overall, while multifamily properties can be lucrative, they require careful consideration of the financial and operational challenges involved. I would suggest starting with a duplex. Goodluck!!

Hi Rory, 

Welcome Home BP! We hear from a lot of out of state investors that Milwaukee is a great place to invest in real estate due to its affordability and strong economic growth. Property prices are lower compared to larger cities, offering the potential for higher returns, while the demand for rentals remains steady thanks to a large student population and growing workforce. The city has seen revitalization efforts, especially in neighborhoods like downtown and the Third Ward, attracting new businesses and residents. Many of the surrounding communitie are up and coming with a lot of developments happening. It has become promising location for real estate investors with a high ROI. I would recommend coming in person if you have the chance to look at the areas you would want to invest in. Hope this helps!

Questions for the Property Owners using a Property Management Company: 

Would you rather have a property management company who has flat rate fees or takes a percentage of the rent? 

Not at all; the long-term commitment is great for reducing turnover. As long as they meet our criteria it should be no problem!

Hi Noah! This is completely understandable that folks don't want to move around in the cold/ winter. I am in the Milwaukee market and we deal with this often. We try to have all of our leases end in March-June so it is easier to lease the property in the spring/summer. However, it happens sometimes that the lease ends in winter and we have a vacany. We try to offer a winter promotion of $200 off the first few winter months then make the lease 14-16 months so that the lease end date is not in the winter again!

What are some PM trend predictions everyone has for 2025? Leasing, technology, interest rates, sustainability, AI, etc? Would love to know everyone's thoughts! 

 Thank you Rebecca, we appreciate your kind words!! 

It is great to meet you Karmine! 

I love this mindset of raising the standard and building a better community while making smart investments. This is the same mindset we look for in the owners of properties that we manage. I do all of the client onboarding for Welcome Home Milwaukee, so please let me know if you or anyone you know needs management services for their properties or would even just need a rental analysis completed. Thanks, and have a great day! 

Welcome to the Bigger Pockets community, Marembo! It is great to hear you have goals to retire in 15 years. I currently work for a property management company also located in the Midwest so please reach out if you have any questions!