All Forum Posts by: Drew Markert

Simon Panosh I grew up in the south suburbs of Milwaukee. There's a wide variety of property classes in the city depending on what you're looking for. East of the Milwaukee River are the most desirable areas in the city (downtown Milwaukee, Whitefish Bay, Shorewood, etc.). It might be more difficult to find cash flowing properties, but you'll have a great chance for appreciation. Riverwest is an up and coming area. Anything west of Riverwest is going to be a cash flow play. If you're interested in these areas, Shawn Ackerman may be able to provide more insight. Bay View used to be up and coming, but is now more up than coming. Still a good chance for appreciation in my opinion - lots of great restaurants and businesses in this area. Walkers Point is also up and coming, but there are low income areas. West Allis is more of a working class city. In my opinion, it offers a mix appreciation and cash flow with more cash flow than appreciation. Cudahy and South Milwaukee are also working class cities despite being so close to the lake. Greendale has a good mix of cash flow and appreciation. Franklin mainly consists of nice single family homes. Oak Creek is growing rapidly and there's been a lot of development in the past 2 years (nice apartments, shopping centers, etc.). I'd love to hear what others think as well. Hope this helps! Drew

I'll be there - looking forward to meeting everyone tomorrow!

Andrew A. Love the determination! Thanks for sharing

@Taylor Lydon welcome to BP!  Your background in Finance should help when analyzing potential deals.  @Robbie Reutzel has a great recommendation, as networking with other investors can provide you with great insight on your local market.  Best of luck!

Hey @Brian Cremer welcome to BP!!!

@Salvatore Leonetti Absolutely!  If you check out https://www.biggerpockets.com/meet you can see which investors are in your area.  I believe BP is one of the best ways to network with other investors, but you can also check Facebook to see if there's any real estate groups in your city (just be cautious if they sell education products/seminars).  

If you decide to network through BP, I'd recommend finishing out your profile first - it won't take long but it will go a long way in establishing your credibility as a new investor.

Hope this helps!

@Salvatore Leonetti welcome to BP! That's a great, question and I believe the answer comes back to what your goals are.  Your strategy on getting started will look much different if your goal is to be financially free in 6 years versus 16 years.

I think you're on the right track with saving to start out.  During that time, make sure to learn as much as you can about what a good deal looks like and network/take local investors out to lunch.  Even if you do that just once a month, there's a good chance you'll find someone willing to partner with you or help guide you through your first deal (not to mention the benefit from learning which strategies work in your area).

Best of luck!

@Lesley Resnick I definitely agree with your philosophy.  It's important to enjoy the journey while setting yourself up for early financial freedom.

I believe the majority of "extreme" frugal lifestyles you might be referring to are more geared to those just starting their careers or who are on a fixed income.  Because they don't have the opportunity to earn more money through their current job (aside from getting a promotion or starting a side hustle), it can make a huge difference on their bottom line if they are frugal.

Because you're an agent, you have an opportunity to work harder and increase your income to make up the difference for living a reasonable lifestyle while still setting yourself up for success long-term.

@David Goossens has a great point about Set for Life, and my current plan is eerily similar to what's outlined in that book.

Brad Cogswell happy to see it worked out in the end. The saying "trust but verify" sometimes sounds easier than it is in reality. Thanks for taking the time to share!

Welcome to BP! Rogers Vann has a great point - setting up keywords for your area will help build both your knowledge and your network. Best of luck!