Mankato, MN · Member since 2016 · 5 posts · 1 vote
Hello BiggerPockets Community!
My name is Jason - I am new to BP and am very eager to start investing in real estate (SFR & multi-family unit rental properties) in the Southern Minnesota area - preferably my hometown of Mankato (pop. 42k).
At this time, I've been doing what I can to educate myself via internet, literature, and listening to all the amazing podcast episodes BP has to offer (complaints to @Daniel Sprague for introducing me). But aside from this - I am hoping expand my knowledge by meeting experienced investors within the BP community or even locally in the Minneapolis-St. Paul/Mankato, MN area to gain more insight (and-or potentially even partner with down the road if the opportunity permits).
Thank you in advance to anyone that responds! Happy New Year!
Contractor · Rosemount, MN · Member since 2016 · 54 posts · 23 votes
9y
Welcome to BP Jason. We (my wife and I) are new to BP as well. We are a GC in the South East metro that currently services a 22k square mile area around the twin cities. Feel free to contact us with any questions you may have in our area of expertise. We are wanting to get our feet wet on the investment side, thus the BP membership. So far it's been very helpful. Good luck and happy new year.
Investor · Minnetonka, MN · Member since 2016 · 123 posts · 86 votes
9y
Hi Jason and welcome to BP!
I'm glad to hear you're taking in the podcasts, they are awesome! (My favorite is biggerpockets.com/show182 as I also like MF properties and apartments.)
Have you read the Ken McElroy's book "The Advanced Guide to Real Estate Investing: How to Identify the Hottest Markets and Secure the Best Deals"? https://www.amazon.com/dp/B00E258KUQ/ref=dp-kindle... I'm in the middle of it and really like what he's got to say -- confirming my choice to go MF, especially apartments.
Mankato, MN · Member since 2016 · 5 posts · 1 vote
9y
@Todd Solberg - Thank you Todd - I agree, it's very exciting times in this beginner phase... the more I learn, the more I'm starting to realize the all the amazing possibilities ahead - definitely keep in touch (especially if you ever find yourself working the twin cities area)!
@Keith Fjelsted - Thank you so much for reaching out! I will likely be in contact shortly when I begin to build a team of trusted GCs - it would be nice to hear your experience & the general expectations in your line of work as well. Also, please feel free to contact me as well if you find yourself willing to partner up with outside investors!
@Mark Nolan - Thank you Mark, looking forward to expanding my network & knowledge immensely w/ BP!
@Scott S. - I will check that episode out - I am slowly making my way backwards in episodes - ideally 1 a day. Thank you so much for the book recommendation as well - I will add this to my list! Either way, It would be nice to learn more about your experience and what position you are in with REI at this time - I believe you and I share a lot of the same goals and I am looking for ways to get involved in projects/opportunities if you have any ideas or recommendations!
Saint Clair, MN · Member since 2016 · 2 posts · 1 vote
9y
Hi, welcome. I plan on finding rentals in the same area, recently moved from north mankato to saint clair. If I find a good deal that I have to pass on I'll let you know. I'm looking for multifamily.
Hi, welcome. I plan on finding rentals in the same area, recently moved from north mankato to saint clair. If I find a good deal that I have to pass on I'll let you know. I'm looking for multifamily.
Thank you Cody! That is awesome and I will make sure to do the same - let's keep in touch!
Welcome to the site Jason! Im not far away in Albert Lea, I used to live in Mankato a few years ago so I'm familiar with the area. I believe we are walking similar paths, looking for like minded people, SFRs/MFRs and ready to get the ball rolling! Reach out to me anytime. Good luck with your journey.
Mankato, MN · Member since 2016 · 5 posts · 1 vote
9y
@Trevor Berg - Thank you much for reaching out - we are definitely on the same page - likewise! The trouble I've been noticing is, given Mankato's new rental rules and neighborhood restrictions, there is currently not much on the market to go after locally.
However, I am remaining optimistic and looking at this as a positive, cause it allows me to continue learning all that I can about the industry, save more money, get business items in order before the opportunity presents itself and dive in!
Keep me posted if you find anything worth partnering on!
Realtor · Mankato, MN · Member since 2015 · 3 posts · 1 vote
9y
@Jason Worrell - I am also an investor in Mankato. I have house hacked two duplexes, thus far, and am now looking for smaller commercial properties (8-24). I would be interested in future partnerships if the deal is right!