All Forum Posts by: Account Closed

I purchased a Duplex in June of 2015. It's in Milwaukee, Washington Heights zip code 53208. I'm now looking to build my portfolio and investigating financing options. Come January I will have a down payment for my next purchase. If I am interested in house hacking would I be eligible for another FHA loan if I were willing to move into it? If so, would I have to refinance my current mortgage? If I don't do an FHA on my 2nd duplex what are some other options people have had success with? I will most likely have 20% but is a standard loan a good option or should I look at other options? Does anyone have someone in the area to discuss HELOC options and to find out if that might make sense?

Hey Adam! Welcome to BP. I too am in your shoes, as you already know. Maybe you would like to check out a local networking event this Saturday with me. I haven't been to it but I feel a few member from BP go and from what I've read sounds good. Here are the details: Real Estate Q & A Session Saturday, Sep 24 at 9:00am: http://meetu.ps/e/BXDMC/tfBYV/a Maybe one of the BP members that participates and is from Milwaukee can chime in on there experience.

There are good and bad parts of Milwaukee for sure. I'll give my best breakdown. I have lived here pretty much my entire life. I can be wrong but I think I'm close. Downtown: is pretty obvious and there is very little opportunity to invest. Large multi units, condos, etc. Lower east side: this is next to downtown and has a lot more opportunity. Young professionals mixed with hipsters and middle aged professionals. Large multi units and a lot of duplexes. Prices are pretty high here. $175k would be inexpensive for a duplex. I don't see a lot of potential for good cash flow and ROI. Upper east side: near UWM and plenty of pricy student housing. It's mixed with residential. Prices are steep. Low cash flow and ROI IMO. River west & Brewers hill: are up and coming and have been for quite a while. Can find gems here but a lot of it's been picked through. This is just West of the east side and goes until about Holten. I think it gets rough east of Holten but it's a good line. West of Holten gets bad though. Low Income area: west of Holten to about 45-50th street north of 94 up to capital is a very low income area. The boards of it have some good gems but in the hart of it is tough. Wauwatosa: is A-C+ Housing. Just on the North & east border of Wauwatosa is Milwaukee and a spot for some gems. Good rent and affordable price. West Allis to Waukesha is A-C in my opinion again. Better opportunities inWest Allis but wouldn't limit yourself. This is South of 94 & West of Miller Park Way basically. 3rd to 55th is lower income again. Primarily the Hispanic region. Some good gems in here but some challenges again. 3rd ward, 5th ward: Condos and large multi. New hip area. Bayview has some gems but has been picked through again. Similar to the upper east and lower east side. $145k would be a steel here. There are more areas but I'm tired and that is hopefully a start. I have a duplex in the Washington Heights area and am looking at another. Let me know if you'd like any feedback or if I can help in anyway. If anyone has anything to offer or expand/disagree on 'do like to hear your thoughts.