Welcome @Sean Quinn
Being in Sheboygan, you're in a market with great opportunities for SFHs, duplexes, and fourplexes. I feel the Milwaukee market is getting more competitive every year. Sheboygan I feel still presents some good opportunities.
Given your focus on equity and scaling for future development, targeting properties where you can force appreciation through value add renovations seems like a natural fit. It sounds like you're looking to balance immediate cash flow with long-term equity growth, which is a solid strategy.
A few ideas to consider:
Local Networking: Connect with other investors in your area or in Milwaukee who might have deals they can't take on themselves. Building relationships with wholesalers and attending local Milwaukee REIA and Rental Property Association of Wisconsin meetups could surface off-market opportunities. I'm sure there are some on the Sheboygan area. I frequent the MKE events.
Leverage Your Skills: Highlight your project management expertise and strong contractor relationships when negotiating deals. Sellers or JV partners may value a hands-off partner who can handle rehabs.
Start with a Strategy: Whether it's BRRRR (Buy, Rehab, Rent, Refinance, Repeat) or simply flipping properties to build capital, define a clear path for your first few deals that aligns with your long-term development goals.
Best of luck finding that first deal, and don’t hesitate to reach out if you need input or connections along the way. Looking forward to seeing your progress!
