Newbies from Minneapolis/ St. Paul

5 Replies

Hey community!

We are a couple of Newbs from The Minneapolis/ St. Paul area. I am a journeyman carpenter and my wife is a photo editor. We Are excited to learn as much as we can from this wonderful resource. Our goals are to buy and hold with the possibility of fix and flip in the future to raise capital. We currently own a VRBO in Tofo, Mozambique. Looking forward to joining the discussion.

Hey @Silas Johnson  welcome to the site! Definitely start jumping into the community here! Be sure to read through The Ultimate Beginner's Guide to Real Estate Investing to help you get started.

Also - here's a couple articles you might enjoy:

The 21 Best Real Estate Investing Books Ever

How to Rent Your House: The Definitive Step by Step Guide

How to Be a Landlord: Ten Tips for Success

Finally -be sure to setup some keyword alerts - especially for "Hugo" so you can jump into local conversations.

See you around the forums!

Welcome to BP @Silas Johnson  

I'm an Investor/Agent based out of the Uptown Minneapolis area. Please feel free to ask any questions you that come up along the way. If you don't mind me asking, how did you come to own the VRBO and how do the numbers look on the deal?

Cheers, Sawyer 

Thanks for the replies! Thanks Sawyer for the support. I bought the property back in 2011 for $8000. It is in a weird middle of nowhere expat village with good surf. It is difficult to get good property management but it is literally a "love shack" so the standard is that of a love shack near the ocean. We rent it for $250 a month long term or $30 a night short term. We have only had longer term tenants of 3 months or more for the last year. Only bills are $20 a month water and $12 a month propane, and the occasional fix here and there of the mosquito net etc. So I would say it cashflows atleast $100 a month when occupied. It is just a little sketchy and difficult to be so far away. We will be back though to build another casita. Next one will have a real concrete foundation though! Hope to chat with you so more in the future,

Aloha, 

Si and ZEE

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