Video: Why Milwaukee?

January 12, 2013 · 4 comments

Since we started doing some additional investing in Milwaukee, WI, I continually get asked, “Why?!?”

That’s a reasonable question, and my partner in Milwaukee (who actually lives and flips in Phoenix) decided to formally address the question in a recent video he put together:

Feel free to visit his awesome site as well: Flipping Phoenix Houses.

4 responses to “Video: Why Milwaukee?”

  1. Ethan says:

    Marty – great video, and perfect timing rolling up to the house right as you bring it up… did you get that on the first take?

    The data that you mention (price differential between distressed properties and finished houses), is that publicly available anywhere? What dataset were you using to determine that Phoenix has an 18% difference? Is there any database that you use for your research and that you’d recommend? Thanks, and keep up the good work!

  2. J Scott says:

    Hey Ethan,

    Just to respond for Marty (I’m pretty sure I know what he’d say)…

    First, Marty spent a LONG time in television as a cameraman, so he’s really good at the timing and production. I’m constantly in awe at his video skills.

    As for the data, it’s all based on MLS data that’s publicly available (if you have MLS access, of course).

  3. Ethan says:

    Thanks for the fast reply. I know your opinion is that you need a real estate license and access to the MLS if you’re going to be serious in the real estate investment business… but for those of us who are just starting out and aren’t at that point yet, is there anywhere else you’d recommend to find this kind of analysis, or access to enough data to play with some numbers?

  4. J Scott says:

    Hey Ethan –

    I’m not sure you can find granular enough data for small geographic areas anywhere else. For larger metro areas (MSAs), you might be able to find some Case-Shiller data, but if you’ll be relying on it to invest, you really want this data for smaller areas, such as a city or a zip code. The other issue is that markets change rapidly — especially markets that are showing signs of inefficiency. Historical data (even a couple months old) can be way different than currently reality.

    You don’t have to have your real estate license, but you’ll likely want to have a real estate agent or appraiser (someone with access to the MLS) who can pull this data for you.

    Just my $.02…

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