All Forum Posts by: Vivian Su

unit photo

@Barbara Kothmann @Amber Bennett @Robert D.

Info sent to your BP inbox. 

@Michael Hernandez additional info sent to your bigger pockets inbox. 

For a more recent BP episode.  Don't forget Nazz Wang BP Episode 148

BiggerPockets Podcast 148: From 0 to 51 Units Despite Living in a Crazy Expensive Location with Nazz Wang

I also recommend @Dawn Anastasi's e-book on Milwaukee areas to start. 

@Chris D. and @Mayer M. - information sent to your bigger pockets inbox. 

Management company is in place. 

Owner also owns appliances on 9 out of the 13 units. 

Off market opportunity for a 13 unit multi-family  in northwest Milwaukee (zip code 53225)

Each unit is a 2-story townhome-style 3 bedrooms 1.5 bath apartment with its own basement.

current below market annual gross rent: $133,140
NOI: $87,238
Offering at $849,000

Area rents at $1000+ per unit per month (potential market rents $156k annually)

Total Sq footage: 17,214

Lot size: 32,322

7 units are newly renovated

Each unit has its own furnace about 10 years old

Hardwood floors upstairs, separate electricity and gas for each unit.

No indoor common areas, each unit has its own parking space

Message for more photos and details. 

@Jorge Ruiz Hello fellow California investor in Milwaukee! I also invest in Milwaukee (rentals and flips).  We filed something with Wisconsin but our CPA is in California.  Be sure to get a good CPA with out of state real estate investment experience. I interviewed maybe 10 CPAs before I found a satisfactory one. I do love the Milwaukee real estate rental market, I think if you choose your areas wisely and you have the right team in place, you will do very well there. Best of luck! 

@Nicholas W. Thanks for the inspiring post! I am also an investor in the Milwaukee market.  Beautiful work and I think Menomonee Falls is great.  I definitely think keeping it as a rental for at least a couple years is a great idea. First of all, you can avoid being taxed to death on the gain and also, you can cash in on the rising Milwaukee market! 

@Kent Wolfhart I invest in Milwaukee and here's my 2 cents.  The most important thing is to get started.  Many new investors are so desperate to get a deal that they overpay or does not do the analysis correctly.  I am an accountant by trade so I only like to take calculated risks.  I would recommend testing out the Milwaukee market (buy a single family home around 80K in a B area) taking out a loan since you have a strong W-2.  Keep that as a rental and find a good property management company since you do not live in the area.  This will be a good learning experience for you, moreover, it will help you get comfortable with the numbers and move forward.  After I bought my first deal, the next deals came naturally.  I would suggest reading David Lindahl's Multi-Family Millions if you haven't already. That could be your next step after you are comfortable your first deal.  I see this as a win-win situation as you get to have your first deal without sinking too much capital in (and doesn't take away the majority of your capital for the next deal) which will help you move forward with building passive income.  Milwaukee is a small city compared to some others, get referrals from people you talk to and get referrals from them too.  You will find Milwaukee agents/brokers/lenders very easy to talk to and easy to work with.  If you are very risk-averse, find someone with experience who can share their knowledge with you and partner up with them (take on a more passive investor role).  The prices are going up quite a bit for the last 2 years so I would recommend buying sooner than later.  I am doing some rehabs in Wauwatosa/West Allis area this winter.  You can reach out to me if you want to learn a little more about possibly working together and sharing experience on flipping in the nicer areas of Milwaukee.  If you would like to limit your risks then we can discuss passive investor opportunities on the rehab. I work with an experienced local team specializing in Milwaukee and Wauwatosa/West Allis.  I also have some lender contacts if you need that for your next deal.