All Forum Posts by: Pete Woelfel

Hi @Omer Bar,

On the surface your message above has two questions - what neighborhoods? and what metrics?

If you dig deeper though, its tough to answer those without knowing a lot more information.  Are you looking for appreciation/cash flow/etc?  Are you local and do you plan on managing the properties yourself?  Are you looking for distressed properties that need rehab or more of a turnkey opportunity?

I think understanding a bit more about your goals would help many of the smart people here offer some sound advice.

One  thing I will say however is even understanding a neighborhood in Milwaukee is sometimes not enough.  In some areas (and maybe especially in the price range you're looking at) there are good and bad parts even within the same neighborhood.  I recently bought a duplex I thought was a good deal, but I would not have bought the same house 2-3 blocks away.  In my experience, its best to go there in person or have someone you REALLY trust go there for you.  Ask yourself the question "will the kinds of renters I'm looking for pay the price I'm asking in this location?".

Congrats @Travis Hill!  What part of Milwaukee is this in and what was your rehab budget?

Hi @Vipul Vaghela - congrats on taking the first step to get started! I recently closed on a duplex I bought in an LLC with a partner similar to what you're describing. We got our financing from Neil Staeck at Educators Credit Union and had a very good experience. PM me if you'd like his contact info.

Highly recommend @Marcus Auerbach!

I'm optimistic. We closed on a duplex exactly one month ago and will start looking for another SFR or duplex soon.

I'm sure I'm missing something, but I'm a little surprised that during this there haven't been people who are being scared into smaller properties - maybe from a high rise to a 4 plex or a duplex to a SFR. I would have thought there would be at least some people who wanted to isolate more but I haven't heard anything like that. Regardless, I was investing in smaller properties before this and this doesn't change my mindset on that at all. People still need a place to live, there will always be people that want a yard/their own space, and you can't build anything anywhere in Milwaukee for anywhere close to what the existing homes cost.

I'd recommend following @Marcus Auerbach to keep tabs on the Milwaukee market, especially for SFR and small multi. He knows his stuff and is active here.

Welcome @Roy Ben. Are you looking for a property that will require some rehab? I haven't been watching West Allis too closely, but 100k for a 3+/1.5+ SFR seems fairly low for something on the MLS. I haven't personally connected with any wholesalers in that area so I'd be curious what they might be seeing.

Hi @Jhalanni Paige - welcome to BP. I'll second the idea on connecting with local people through meetups. You can also check out the Brew City REI Facebook group. I have a small portfolio that I'm looking to grow in Milwaukee. Happy to connect if there's anything I can do to help.

Welcome to BP - where is the property located?

Cool - I have 2 SFRs over there - one in Kops Park and one in Nash Park. Did you buy that off the MLS or off-market?

Congrats @Jason Alkhaldi!  Nice work.  What part of town was this in?