All Forum Posts by: William S.

@Dawn Anastasi

As far as rehab goes I'd be willing to do very little (paint, etc). Thats it. No replumbing, structural issues.

@Dan C.

I thought that may be the case. Price range is $55-$65. I can find deals in KC easily for that. I have even found a few in the $40s... Advice for Milwaukee would be very helpful for my decision. Thank you.

@Casey Kooiman

Where are you finding cashflow then? Those are the only areas I can find... I use to live in the Eastside and have friends in Bayview but the numbers don't work there.

@Casey Kooiman

How far away are you from your properties?

@Dan C.

We are trying to stay in the Milwaukee area long term. I have no career future in KC, where Milwaukee or Wisconsin in general is very good for my profession. In Milwaukee I have been looking at West Allis and the Northside. In Kansas City I have been looking at Grandview, Raytown (near Cerner). When comparing these areas I'm finding the Milwaukee homes are run down, more expensive, and have more shootings. In Kansas City, the properties are cheaper, up to date, and have crime, but hard to find any shootings.

I could really need some help deciding what to do here.

I'm about to jump into real estate investing (rental properties) and am stuck between which city to invest in. I'm not interested in doing both cities, just one.

I'm originally from the KC area, but recently moved to Milwaukee. I do not know how long I will be in Milwaukee (move a lot due to changing jobs). Someday I may move back to KC, or I may stay put in Milwaukee. I don't know what the future holds.

I've been researching for several months and have a few pros and cons for investing in each city. Please feel free to add more.

Kansas City

• Pros
  • A lot of deals that cashflow
  • Lower crime 
  • Lower property taxes
  • Lower house prices
  • House are more updated (better quality)
  • Heavy investor city 
  • Easier to find pm, team, etc
  • Increasing home values
  • Job growth
  • I have more knowledge on this area
  • More turnkey providers
• Cons
  • Not local (currently)

Milwaukee

• Pros
  • Local (currently)
  • Some knowledge of the area
• Cons
  • Higher house prices
  • Higher property taxes
  • Higher crime (shootings!)
  • Old homes that haven't been updated
  • Haven't found many turnkey providers

As you can see from above it seems to be an obvious choice, however my current location (living in Milwaukee) could play a big factor in the decision. Thoughts? Help? Thanks!

@James

I'd love to invest in a Class B neighborhood that cash flows $750/m! Who wouldn't? But when you're getting a 30 year fixed mortgage with 25% down, and factoring in higher property taxes for the Class B neighborhood, and the higher price of the house... Are you talking about buying a house with cash? 

@Darren

What/where (zip code) is your definition of great area (rental market/safe)?

Safe enough area to self manage? I'm still unsure with the shootings... Other areas I'm looking out (out of state) are not great, but no shootings..

This property would return $260/month

Juice worth the squeeze as they say?

W Greenfield Ave & S 35th St

I've been looking at some rental properties in 53215 area. On spotcrime I've noticed a few shootings which scares me. If I see a few assaults that's one thing for me, but shootings is another. Can I get some feedback from the local Milwaukee investors on this area? I've found a good property, but do not want to invest in a dangerous part of town.

Current Thoughts:

I'm located in Milwaukee looking for my first rental property. It has been a struggle to get the numbers to work due to property taxes. In addition, the crime seems high.

I'm originally from Kansas City, and have considered investing there. The numbers work much better. Low taxes, lower crime, but out of state for me.

My Strategy:

Buy and hold rental properties

Thanks!