Investor · Minneapolis, MN · Member since 2017 · 4 posts · 2 votes
Hey everyone! A friend of mine recommended this site to me and here I am. I am a 24 year old guy living in North minneapolis with little experience in the real estate business. I have had an LLC with a friend were we owned one rental property to test the waters. We had a string of bad luck with the first 2 tenants and since we bought the property when the market was about 35% lower we sold the property about 2 years after we purchased it. Still haven't decided if we made the right decision. I love investing and the real estate side of it is still enticing to me. I currently maintain a rental property in Fridley for my brother and we are entertaining the idea of adding some more. Just here looking to learn and to soak up as much knowledge as possible.
Investor · Pittsburgh, PA · Member since 2015 · 1k+ posts · 1k+ votes
9y
@Jason Doerr Dont give up on real estate. As a wise man once said. Dont wait to buy real estate, buy real estate and wait. You have to be patient in this business. Make the right choices and dont give up. continue learning from those who do it at a successful level.
Real Estate Broker · Hugo, MN · Member since 2016 · 688 posts · 596 votes
9y
Welcome to BP. Sorry to hear about your troubles. There is a lot of great information on the site to help you avoid issues in the future.
From my experience everything is easier starting with the right property, we don't recommend D and lower C level properties for our first time investors, those properties can be profitable but require the most experience to manage.
The other thing we recommend is that our investors set their criteria for renters high enough in order to filter out most bad tenants. Criteria doesn't have sob stories, BS, and lies, bad prospective tenants do and the stories always sound believable.
Investor · Pittsburgh, PA · Member since 2015 · 1k+ posts · 1k+ votes
9y
@Jason Doerr Dont give up on real estate. As a wise man once said. Dont wait to buy real estate, buy real estate and wait. You have to be patient in this business. Make the right choices and dont give up. continue learning from those who do it at a successful level.
If you wish to tag someone in the conversation on the forum, type @ followed by their name and then select the name of that person which should appear below the comments box. He or she will be notified of being tagged so that the conversation will continue.
Investor · Minneapolis, MN · Member since 2017 · 4 posts · 2 votes
9y
I'm considering getting back into it. I have a lot to learn yet and would like to get advice and have some discussions before I jump back in. So by coming here my hopes would be to get a little mentoring before I try again. last time was profitable and I'm building funds to purchase a property in the near future. Thanks for the recommendation as I'm looking to find some people who could share some knowledge. Any information is welcome and I look forward to hearing from anyone!
Thanks
Investor · Minneapolis, MN · Member since 2017 · 4 posts · 2 votes
9y
I'm considering getting back into it. I have a lot to learn yet and would like to get advice and have some discussions before I jump back in. So by coming here my hopes would be to get a little mentoring before I try again. last time was profitable and I'm building funds to purchase a property in the near future. Thanks for the recommendation as I'm looking to find some people who could share some knowledge. Any information is welcome and I look forward to hearing from anyone!
Thanks
Jason
Real Estate Agent · Minneapolis, MN · Member since 2015 · 55 posts · 6 votes
9y
welcome to BP. I actually live in Columbia Heights just south of Fridley. keep at it, we could meet up and talk sometime since youre right down the road!!
Real Estate Agent · Minneapolis, MN · Member since 2014 · 40 posts · 30 votes
9y
Hey @Jason Doerr I'm in south Minneapolis and love talking about real estate in any capacity. I would love to hear more about your story, talk through were the pitfalls were in your last deal and offer you help getting you connected with any resources to help you succeed in your next real estate adventure. Let me know if you want to meet up!