All Forum Posts by: Jennifer Smith

Originally posted by @Michael Crane:

Hello Jennifer, 

I am basically brand new to all this, but I have been living in Milwaukee for 20+ years, so I would be happy to give an impression on any neighborhoods you are interested in.  Riverwest tends to be lower income than the neighborhoods closer to the lake (ex. Bay View, Shorewood, East Side).  I suspect that you will end up with a lot of turnover there.  In my search I have been looking at a few places in Riverwest, but the majority have needed a lot of repair.  While you probably already realize this, Milwaukee is a lot colder than SC.  Your heat costs will be a lot higher, especially in the older buildings that tend to be prevalent in Riverwest.  Also please be aware that snow removal is a real thing, and the city can fine you if you fail to clear it up.  Parking is premium on that part of town.  If you find a place with off street parking, even more so if covered, you would be a much more attractive to prospective tenants.  There are a lot of college students (UWM) in that area.

Good luck!  

@Michael are you planning on investing in the near future? I'd love to keep in contact with you as we are both going through this process as newbies :)

Thanks for the information about the other areas in Milwaukee and about the snow (something Im glad I don't have to deal with here in southern cali). Im hoping to get a team together and get out there to look at properties in Spring and summer (Im a teacher by trade so my schedule works great for this). Good luck to us.

Wanted to add that I'm looking for duplexes.

Hello neighbors! Im a newbie currently living in riverside ca. I'm excited about what I've researched so far, and am looking to start investing in the near future ( my goal is to obtain my first rental property by summer 2017). Currently I don't have much capital so I was looking at other states to invest in where the barrier to entry is much lower. I'm looking for multi family houses in the 50-75k range. Which markets do you all currently invest in and how did you go about setting up your team before getting started? (Do you invest in turn key rentals and if so what area some reputable turn key companies). Right now I'm looking for property In Milwaukee but I'm open to other areas. Thanks in advance! Jennifer.

Hi my name is Jennifer. I've been a homeowner for 5 years and was an accidental landlord for two of those 5 when I decided to move back home and pay off my student loans. Now that I'm debt free (excluding my mortgage ) I wanted to get started in investing in real estate. I live in Southern California and can not afford to get started investing in my local area. After doing research I've narrowed my focus to Milwaukee, Wi. Based off of what I've seen online (Redfin), the numbers look good and I will be able to meet the 1 (even 2) percent rule. My questions for anyone who could help are as follows: 1) How do I get accurate rental rate information (right now I'm doing my calculations based off of reported rental income on Redfin). 2) Before I get started, I know I need to set up my team. Does anyone know of a reputable realtor/ property management company/ contractor in the area? 3) what are the best areas in Milwaukee to invest? I'm currently looking at the river west area? 4) Is Milwaukee even a place I should be considering? Are there better opportunities closer to where I live in Southern California. I'm looking on obtaining my first property by summer 2017. I can start as early as spring. Right now I'm interested in building relationships and am eager to get into the real estate game. Thanks in advance for your input! Jennifer