Out of state groups buying up Milwaukee housing stock
Around 6,000 home rental properties in Milwaukee now belong to out of state landlords.
The Journal Sentinel’s Cary Spivak tells Wisconsin’s Morning News the trend that began on the coasts in 2008 has come to Milwaukee with a vengeance because of low property values.
Spivak says not all are bad landlords, but there are exceptions. In two cases, the owners have racked up over 700 code violations.
Listen to the full interview with Spivak in the player below.
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Out-of-state corporate landlords are gobbling up Milwaukee homes to rent out, and it s changing the fabric of some neighborhoods
Cary Spivak, Milwaukee Journal Sentinel
Published
3:33 pm UTC Apr. 15, 2021
Angela Peterson / Milwaukee Journal Sentinel
Meet the new breed of landlord invading Milwaukee:
A couple of former Silicon Valley executives who were crewmates on the Harvard rowing team; a fast-growing Ohio company that owns more than 13,000 rental homes in 14 states; a native of Peru who has run real estate companies in Houston and Palm Beach, Fla.; and a southern California woman who was looking for a place to park her cash windfall.
A Fox Point lawyer who begged his way out of a jail sentence in 2018 for stealing from an estate has been deemed safe to practice law again in Wisconsin by the state Supreme Court.
Daniel Morse, 67, remains disbarred in Florida and suspended from practice in Pennsylvania, two other states where he had once been licensed.
He was charged in 2017 with five felonies and three misdemeanors for his handling of money from a Dodge County estate starting in 2014. Ultimately, he pleaded guilty to the misdemeanor embezzlements after prosecutors agreed to drop all the felonies.
Morse repaid the estate $26,037.
Milwaukee County Circuit Judge Joseph Wall withheld a jail sentence and imposed two years of probation in April 2018. At the time, Morse had not yet been sanctioned by professional regulators, but one of his conditions of probation was that he not work in any kind of fiduciary capacity or as a lawyer.