Alex Winder Newbie from minneapolis minnesota.

Alex Winder Newbie from minneapolis minnesota.

Saint Paul, MN · Member since 2016 · 37 posts · 11 votes

Greetings fellow bigger pockets members and fellow real estate investors. I recently finished my profile and would like to begin networking and introduce myself to fellow investors. My name is Alex Winder, I am a 23 years old and live in minnesota just a few miles south of the minneapolis market. I went to school for auto body technology for repairing cars after they have been in an accident. I graduated in May of 2015 and have been working in the industry for the last 2 years. I really enjoy my job and enjoy working on cars. In the past year I have become very interested in investing and becoming smarter about money management and budgeting. I have read many books on these subjects including: financial peace university by Dave Ramsey, rich dad poor dad, rich dad's guide to investing, rich dad's who took my money all by Robert Kiyosaki, the millionaire mind and the millionaire next door by Thomas Stanley, how to be a real estate investor and real estate investing gone bad, both by Phil Pustejovsky, and many more books related to this subject. I have also listened to many bigger pockets podcasts on youtube regarding real estate investing and have found all of the information very helpful and has grown my knowledge of real estate. I am also meeting and studying with a man from my church who is well versed in the stock market and mutual funds. My real desire is to learn the ins and outs of real estate and how i can use this venue to build long term wealth. I have been able to save around 26k and have no debt and no huge bills, and would like to start investing to grow that money and real estate is a very creative market that I have lots of interest in. Looking forward to networking and growing in my knowledge of real estate here on bigger pockets.

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Woodbridge, VA · Member since 2017 · 12 posts · 2 votes
9y

Hi im new as well. What kind of investing are you trying to do?

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  • Jordan MoorheadBusiness Member
    Real Estate Agent · Austin, TX · Member since 2015 · 5k+ posts · 3k+ votes
    9y
    Congrats man! I just bought a duplex and live for free. I love it!
  • Woodbridge, VA · Member since 2017 · 12 posts · 2 votes
    9y

    Hi im new as well. What kind of investing are you trying to do?

  • Saint Paul, MN · Member since 2016 · 37 posts · 11 votes
    9y

    @Jordan Moorhead 

    Congratulations, I am considering if I would like to purchase a duplex to house hack and to begin my real estate ventures and give a go of landlording at the same time. I also like house hacking because you generally get a better interest rate compared to a investment property and lower down payment requirements and I could live for free. How did you go about deciding on a duplex, and how long did it take to find the right one for your situation?

    @Jake Thaxton

    I am new to the idea of real estate investing as well and am currently trying to grow my knowledge and networking base while I decide what I would like to invest in to begin with. House hacking seems like a great start for a lot of people to A learn landlording while living at the residence and B living for free, or next to nothing. What are you considering or wanting to invest in? I have heard that the first purchase is the most daunting and that it gets easier after that.

  • Woodbridge, VA · Member since 2017 · 12 posts · 2 votes
    9y

    Im a wholesale investor Im trying to find a buyer for a amazing fix'nflip opportunity I stumbled upon. My advice to you is find find your self a good realtor or a birddoger to find you a good deal.

  • Jordan MoorheadBusiness Member
    Real Estate Agent · Austin, TX · Member since 2015 · 5k+ posts · 3k+ votes
    9y
    Alex Winder I have a realtor that helped me with it. It took me a few months but we found a good one in Northeast that's close to work and what I like to do. I think house hacking a duplex to fourplex is a perfect start. I had a fourplex under contract in a c class neighborhood but ended up backing out when insurance was going to be really expensive. A duplex was perfect for me and I only had to put down 3.5%
  • Saint Paul, MN · Member since 2016 · 37 posts · 11 votes
    9y

    I have a old coworker from when I was in college that ended up getting into real estate. He does a lot of management for rental properties and quite a few of his coworkers have investment properties as well. I have been meaning to get together with him and see what it realistically would look like for a rental property I may be able to house hack in or just buy as a rental. I have this desire to get into real estate I am just nervous more than anything to move out of the parents house and venture out onto my own. It's a daunting task that I am ready for financially but I am nervous just thinking about it.

  • Jordan MoorheadBusiness Member
    Real Estate Agent · Austin, TX · Member since 2015 · 5k+ posts · 3k+ votes
    9y
    Talk to a lender and see what you can get approved for before you do anything. You can get into stuff for super cheap now with MFHA down payment assistance. A good realtor and good lender are worth their weight in gold.
  • Woodbridge, VA · Member since 2017 · 12 posts · 2 votes
    9y

    everyone is nervous just take it one step at a time and you'll be ok

  • Saint Paul, MN · Member since 2016 · 37 posts · 11 votes
    9y

    @Jordan Moorhead How does pre approval process work? Is it like a quote for insurance? Based on xy and z you qualify for this much? I have excellent credit and no debt to speak of, I just over analyze everything I look at and overthink myself out of doing anything regarding starting.

  • Saint Paul, MN · Member since 2016 · 37 posts · 11 votes
    9y

    @Jordan Moorhead

    What was the numbers on your duplex if you don't mind me asking? Asking price, rehab cost, monthly cost, mortgage, interest rate? I like the idea but live 10mn from my job in apple valley and moving into the cities would at least triple my commute. South suburbs there is nothing duplex or 4 plex near as good of a price as I have seen them in minneapolis or st paul. Do you think the best place to start would be minneapolis/st paul because of prices being better and more rental opportunity?

  • Jordan MoorheadBusiness Member
    Real Estate Agent · Austin, TX · Member since 2015 · 5k+ posts · 3k+ votes
    9y
    Alex Winder pre approval is super easy and barely takes any work. If you want some good lenders I can give you the name of a couple. Best to talk to a few and see which one can get you the best loan.
  • Jordan MoorheadBusiness Member
    Real Estate Agent · Austin, TX · Member since 2015 · 5k+ posts · 3k+ votes
    9y
    Alex Winder mine was $177k, mortage, insurance and taxes are $1235. Bills are around $300. I rent the upper unit and have a roommate in my unit so I have no bills at all. Where are you looking to find properties? Do you have an mls search set up?
  • Professional · Carlsbad, CA · Member since 2012 · 12k+ posts · 1k+ votes
    9y

    @Alex Winder

    Welcome to Bigger Pockets. Make sure to check out the very informative blogs.

    https://www.biggerpockets.com/blogs

  • Saint Paul, MN · Member since 2016 · 37 posts · 11 votes
    9y

    @Jordan Moorhead

    Yeah I will take some names of good lenders in the area. I would love the advice on where to start getting pre approved. I use realtor/zillow just to skim what's around in the market as far as prices and everything like that. As far as the suburbs I don't know how comfortable i would be borrowing 200k+ for a decent single family home while still having some money left over for reserves. The problem with the suburbs most things are priced pretty high compared to north of the river. But north of the river increases my commute and is not my ideal place to live. But if I found the right place at the right price that would cash flow well I might consider it just to start my real estate venture.

  • Saint Paul, MN · Member since 2016 · 37 posts · 11 votes
    9y

    @Mark Nolan

    Thanks for the suggestion, I will have to check out the blogs. I am still quite overwhelmed with all the information and members on bigger pockets but I do know that it is a step in the right direction.

  • Investor · Inver Grove Heights, MN · Member since 2016 · 29 posts · 20 votes
    9y

    @Alex Winder, feel free to reach out to me if you have any questions. I have done several deals in St. Paul. You should talk to my realtor Amy Ranae Dills, she'll go the extra mile to help you find the right duplex. You can find her here on BP. Also for networking and learning the ins&outs you should attend Pine Financial's REI meetups at Grumpy's in Roseville every 2nd Tuesday of the month at 6pm in their banquet hall (Feb 14th is the next one). I have found these gatherings to be invaluable. I hope to run in to you some time. Welcome to BP!

  • Wholesaler / Investor · Hastings, MN · Member since 2015 · 58 posts · 32 votes
    9y

    @Alex Winder Welcome aboard Bigger Pockets!

    As a wholesaler and also working for a large lender feel free to ask any questions you may have.

    Knowledge and information are the key to success and there is an abundance here to take advantage of.  Just don't fall prey to what many of us have done at first and not take the action as well.

    Here is to a great 2017! Good planning and good luck!

  • Saint Paul, MN · Member since 2016 · 37 posts · 11 votes
    9y

    @Aaron Abraham

    Thank you for the encouragement and the advice, I feel as though bigger pockets is going to change my life and change my way as to how I conduct my mindset regarding buying assets in the real estate asset class. Are there any requirements to attend these Pine Financials REI meet ups? They sound like something that I could really get excited about to grow my knowledge and to network with people and investors in my area that have lots of experience and knowledge that I could learn from and hopefully do business with. I am looking to network and meet with as many people as possible to grow my network, experience, and desire to invest into real estate. So I hope I run into you and others at these meet ups to do just that.

  • Saint Paul, MN · Member since 2016 · 37 posts · 11 votes
    9y

    @Sean Wait

    I am extremely encouraged with the amount of support and knowledge that bigger pockets offers to someone like me in my position. I have been wanting to work and get together with someone who has experience in this field and could possibly help me get started or be a business partner with possibly more capital who is looking for someone like me who isn't afraid to work hard and get his hands dirty in order to get started investing in real estate. I feel that knowledge is one of the most valuable items you can have in this day and age, and the more books I read, and the more podcasts I listen to, and the more people I speak with, the more I have a desire to gain more knowledge from people who know more than me. 2017 will be a good year, I have made the goal to buy my first rental property this year and to get started in the large world of real estate investing.

  • Wholesaler / Investor · Hastings, MN · Member since 2015 · 58 posts · 32 votes
    9y

    @Alex Winder  that is awesome, networking is going to be key to a lot of that!  Try out the different groups and find the one or multiple ones that fit what you want.  One of the other great things about attending groups is the motivation and support from people who are also excited and living the lifestyle.

  • Saint Paul, MN · Member since 2016 · 37 posts · 11 votes
    9y

     I believe wholeheartedly that there is more here on bigger pockets regarding networking and knowledge than I could ever dream. In the coming weeks and months I will be seeing what bigger pockets offers and what kinds of forums will be best suited to my situation and to networking the best. Even from one simple post for my introduction I feel more encouraged and motivated to continue on this path than I ever thought possible. It does help to get advice from people who have years of experience and that can be realistic in giving advice to a newbie like me who wants to grow and seek their knowledge. I am excited to see where this takes me in life, but I know it is only the beginning.

  • Real Estate Broker · Maple Grove, MN · Member since 2016 · 216 posts · 80 votes
    9y
    Hey Alex! I'm in Minneapolis too! Lots of opportunities to invest here. Let me know If I can help or if you want to chat!
  • Real Estate Broker · Maple Grove, MN · Member since 2016 · 216 posts · 80 votes
    9y
    Aaron Abraham you're awesome:)
  • Real Estate Agent · Bloomington, MN · Member since 2015 · 87 posts · 30 votes
    9y

    @Alex Winder,

    You've certainly come to the right place for information and support.

    2 lenders I've had great luck with-

    Mikal Knotek at Bell Mortgage

    Pat Gleason at Alerus Financial

    Both of these lenders get loans closed.

  • Jordan MoorheadBusiness Member
    Real Estate Agent · Austin, TX · Member since 2015 · 5k+ posts · 3k+ votes
    9y
    Alex Winder PM me and I'll send you the names of some people
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