All Forum Posts by: Pete Woelfel

@Vipul Vaghela - I'd highly recommend @Marcus Auerbach

Hi Angela,

Welcome to BP.  Sounds like you've accomplished a lot to make it as far as you have and I admire your desire to help those in need.  I've done a little bit of work with the Guesthouse in Milwaukee and have a few connections there.  Not sure if you've looked into partnering with organizations like that but if I can help with that feel free to PM me.  Best of luck!

Congrats @Mark Reed!  What part of town is this property in?  Is this your first property in the Milwaukee area?

@Daniel Wendorf - are you concerned about the ARV because you're looking to BRRRR or are you looking to flip?

@Vonney Lockridge and @Shella Sanders - I'm a local investor here in Milwaukee looking for SFR and duplexes. I'd love to connect and hear about what you guys are working on.

Hi @Kendal West - congrats on your first post.  I agree with the things @Jonathan Greene mentioned above from the fear/nightmare perspective.

As for the analysis paralysis I'd say this - there is so much to know about REI and so much great information available here and elsewhere that it can be easy to fall into that. My advice would be to narrow your focus. Don't analyze a SFR, then a 4 unit, then a 20 unit, etc. Don't try to compare 50 different markets to each other either. Pick one zip code, or one neighborhood and a specific type of property and focus on that for a while. Eventually, you'll may very well branch out to other areas or property types, but for me, having a super narrow focus (SFR with at least 3BR and 1000sq ft in the 53222 zip code) was extremely helpful in getting me to take action on my first property. Once you get comfortable with that, you can move on to the next one which might be a little different, but much easier now that the ball is rolling. Just my 2 cents.

We have properties in Nash Park, Kops Park, Wauwatosa and one under contract in Washington Heights. As for strategy, we have only invested in SFH and duplexes thus far with mostly long term renters (have not done any airBnB stuff yet). I like the areas because they cash flow and are close to home for me (Tosa) which makes self managing easier. Does that help @Daniel Wendorf?

@Robert Shedden

I don't have any property in any of those neighborhoods, but know a few people who invest in Bayview and Riverwest and seem to like it.  I wouldn't put either of those into the "stay out of that area" bucket.  As @Brett Kash mentioned there are areas like that up here.

For me, I usually take a peek at the crime data for the area, drive around a bit (maybe have lunch at a restaurant in the area and even ask the servers about it if they live there), then look at rent prices and run the numbers.  I think if you do that in most areas of Milwaukee you'll be moving in the right direction.

Welcome to BP @Erin Garcia!  I have a couple properties in Milwaukee (where I live).  I could spout off with some opinions about the area, but it might help to hear a little bit more about what your goals are.  Are you looking for areas that will appreciate over time or cash flow?  Are you planning to house hack or is this strictly an investment property?  Are you looking to force appreciation with a rehab or buy turnkey?  I congratulate you on taking your first step to decide to get started, but based on my personal experience it might help to narrow down the scope of what you're looking at.  Its easy to waste a year or more analyzing as much as you can without actually taking any action.