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Forums » New Member Introductions » New member from the North Dakota Bakken!

New member from the North Dakota Bakken!

16 posts by 12 users

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SFR Investor · Dickinson, North Dakota


Our company is L Squared Properties. We are based in Dickinson, ND which is in the heart of one of the biggest oil plays in the nation. My wife Lori and her friend Lori actually own the company. My title in the company is maintenance man! We have four SFH, three mobile homes, a duplex and a townhouse. All are fully rented. We are looking to expand outside of the Bakken and are looking into the Bismarck and Fargo areas. We have friends who have invested into the Phoenix area and we may look there also. With the high demand for housing, we are exploring building spec homes.



Real Estate Investor · Montesano, Washington


Hey @Aaron A. welcome to BP! I'd love to hear what investing is like out there in the crazy oil boom area. I hear living space is hard to find - so are you able to charge outrageous amounts? I'm fascinated by that area! What's it like?

Also -are you worried about what will happen when the boom ends (and if it will?) with all the mass amounts of building going on?

Thanks for joining BP! Keep in touch.


Small_bp-squareBrandon Turner, BiggerPockets
E-Mail: [email protected]
Website: http://www.BiggerPockets.com
VP of Marketing and Communication - BiggerPockets.com Follow me on Twitter! @BrandonAtBP


· Dickinson, North Dakota


Welcome Aaron looking forward to see you around.



SFR Investor · Dickinson, North Dakota


Originally posted by Brandon Turner:
Hey Aaron Auer welcome to BP! I'd love to hear what investing is like out there in the crazy oil boom area. I hear living space is hard to find - so are you able to charge outrageous amounts? I'm fascinated by that area! What's it like?

Also -are you worried about what will happen when the boom ends (and if it will?) with all the mass amounts of building going on?

Thanks for joining BP! Keep in touch.

Finding suitable housing is very difficult to find, especially SFH and if you have pets. We cater to both! I don't like the term outrageous rents, I prefer to use market based. Our rents run from $1,500 to $2,200 per month plus utilities.

I am worried about the boom going bust. We were fortunate to buy our units a couple of years ago before the prices became extremely inflated. Because of the high SFH prices, we started to buy mobile homes. We have one property for sale and are looking outside the area for another property. We are not taking much income off of the properties. Our focus is paying off debt. If it does go bust, we could reduce our rent by over 50% and still be fine.



Property Manager · Las Vegas, Nevada


Welcome Aaron! Your in a great location, always plan multiple exits.


Tiger M., TRADEWIND INVESTMENTS REAL ESTATE AND PROPERTY MANAGEMENT
Telephone: 702-870-5500
Website: http://TRADEWINDVEGAS.WORDPRESS.COM
Tiger M www.tradewindvegas.wordpress.com 702-870-5500


Real Estate Investor · Garland, Texas


Welcome to BP Aaron.

Our rents run from $1,500 to $2,200 per month plus utilities.

How much would these rentals sell for in today's market?

What is the car in your avatar? You might consider using your picture so people get to know you.


Jon Klaus, SellPropertyFast
E-Mail: [email protected]
Telephone: 214-929-6545
Website: http://www.facebook.com/Buttermilks


SFR Investor · Dickinson, North Dakota


Originally posted by Jon Klaus:
Welcome to BP Aaron.

Our rents run from $1,500 to $2,200 per month plus utilities.

How much would these rentals sell for in today's market?

What is the car in your avatar? You might consider using your picture so people get to know you.

The mobile homes would sell for 30-40K, duplex 150K, SFH 130K-225K and the townhouse 150K.

The car is my 1968 Olds Cutlass Convertible. I use that for an avatar because it is better looking!



BiggerPockets Founder · Denver, Colorado


Welcome to the community, Aaron!


Small_bp-squareJoshua Dorkin, BiggerPockets
E-Mail: [email protected]
Telephone: 877-831-4704
Website: http://www.biggerpockets.com
Check us out on Twitter: @BiggerPockets


Real Estate Investor · Garland, Texas


Your mobiles cash flow like crazy. Can you get more at those numbers?

In high school I had a 1965 442. Fun times. Later I bought a 1965 Cutlass Convertible. More fun, but less speed.


Jon Klaus, SellPropertyFast
E-Mail: [email protected]
Telephone: 214-929-6545
Website: http://www.facebook.com/Buttermilks


SFR Investor · Dickinson, North Dakota


The mobile homes are cash cows! Our first two mobile homes we purchased for $17,500 ea. They paid for themselves in 10 months. The third mobile home is newer and cost $35,000. That will take about 18 months to pay for itself. You can find mobiles easily, the problem is to find places to put them. New parks aren't being built and the ones that are here are full. We know an owner of a small mobile home park in town net here. We have the first opportunity to put a mobile in his park if something opens up.



· Oshkosh, Wisconsin


I assigned a 32 unit in Eureka South Dakota makes me wonder if I should have kept it....Nah! A town of 1600 people but if it wasnt shrinking I might have . I put under contract for 150k and sold contract for 10k. It had an income stream of 4400 per month and vacancies left room to increase income by at least 2k monthly if you could find 8 people in the county that needed housing. Today 5 years after that deal I might have been holding that apt building. Hind sight is 20/20



· Lake City, Colorado


Aaron, well your one of the lucky ones to get in early on the boom. But seems to be an ongoing situation and not just there in N. Dakota. For the rest of you that commented on this post I am currently looking into this in areas outside of N. Dakota that I have already located property for sale. Some of these areas are just getting ready to kick in and property is still cheap. There are a lot of issues to cover not just from an investors point of view. If I can help anyone let me know and I'll answer what questions I can. Just FYI-not all these boom towns are equal but there still is great opportunity if you do it right.



· Bismarck, North Dakota


Im in Bismarck. Let me know if you need any info.

The market has been crazy but it has started to plateau which is welcomed.

Im looking at possibly selling some of my single family units because I want to get into duplexes and 4 plexes. You can charge $1500-$2000 easily for SFHs but I would rather go after young couples and charge around $1000/ mo.

There hasn't been a legitimate multifamily complex for sale in 2-3 years.



Real Estate Investor · Milwaukee County, Wisconsin


Welcome, I'm also Cutlass fan
I use to own a 1981 Cutlass
They do not make cars like that anymore
Happy Holidays



· Sparks, Nevada


Originally posted by Chuck Catchings:
Aaron, well your one of the lucky ones to get in early on the boom. But seems to be an ongoing situation and not just there in N. Dakota. For the rest of you that commented on this post I am currently looking into this in areas outside of N. Dakota that I have already located property for sale. Some of these areas are just getting ready to kick in and property is still cheap. There are a lot of issues to cover not just from an investors point of view. If I can help anyone let me know and I'll answer what questions I can. Just FYI-not all these boom towns are equal but there still is great opportunity if you do it right.

Which areas are you looking? I am in West Texas and the market here is hot! I am also looking to purchase my first investment property, what don't I know? And how can I best prepare myself for this market in San Angelo?

Thanks Tim



Bird-dogger · Grant, Michigan


There are some good opportunites right in ND for good potential ROI. One I know of has a management company in place for a "hands free" investment opportunity. It seems you have a good idea of insuring against the "bust" phase of the "boom and bust" cycle.


E-Mail: [email protected]
Telephone: 231-327-1147
Robb Breen Effulgent Opportunities




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