I am a new investor looking to make my first deal, since I live in a small market (Tucson, AZ) I am now looking to invest out of state. I am looking to buy and hold tri/fourplexes. I came across Milwaukee Michigan and noticed the ridiculous low prices for the properties. Then I noticed on Zillow how many properties are up for rent, so I then check the historic population. The population is slowly deceasing.
Is it still a good time to buy in Milwaukee or should I look else where for my first buy? Last thing I want is to buy a property that has a hard time renting because housing is in overabundance or rents lower below my conservative estimates.
Is there a reason why people are leaving that might be alleviated in a few years?
Thanks for any insight you have to share.
