Minnesota Investor Thank you!

7 Replies

Hello!

I'm very excited to be entering into the REI journey and have loved all of the content on here already! I work full time and am currently attending showings in the hopes of finding my first multifamily property around the Mpls/Stp MN area. My goal is to generate some passive income in hopes of diversifying and financial independence.

Although quite overwhelming to start (strategy/financing/landlord vs. ppt mgt/goals) I couldn't be more thankful for all of the great advice on this site.  I've thought of starting 4+ discussions now and after using the search function have found that the topic has already been discussed!

Very thankful for all of your experience and help!

@Travis Hibbard Welcome to BP family! You've come to the right place for the RE info and advice. And it sounds like you found your way around this site already, so kudos to you! Also, glad to hear you have already decided on your niche and location - MFH in St MN area. Keep educating yourself and also start networking with like-minded investors to move your process further along. 

Best of luck!

Hey @Travis Hibbard Welcome to BP! I recommend meeting some local investors in person. Meetup.com has several local groups and there are 3-4 active REIA groups. I prefer the meetups myself but you can meet people and learn from all of them.

Welcome Travis, looking forward to following your journey! The site has a lot of great networking opportunities and is full of great information. I agree, every time I think about starting a discussion, I generally find that somebody has already had the thought and its been fully discussed on here. 

@Travis Hibbard

Greetings. I'm not seeing good deals right now the the MLS. Let me rephrase. I'm seeing sellers who know what they are doing, and buyers who also seem to recognize the legit value. As an investor, I want to find the property where the seller has outdated rents, so I can find the value add gains. Lease loss is my favorite strategy.

I'm going back to private marketing to find my next deal.  I have a meetup that will be occurring on 09/18/18, in Golden Valley.  It would be great to see you there.  

@Travis Hibbard

Welcome to BP. 

I am just starting out to invest in Misp/St.Paul as well. The market is tight, it is probably hard to find deal that would fit the criteria for a full time investor. I also work full time and my goal is to generate some passive income on the side so I dont have to find that killer deal in order to buy. If your situation is the same, there are still properties out there for you to grab. Best of luck!!!

Thanks for all of the support!  

As I dig deeper and look at the deals i'm definitely getting a good feel for understanding the numbers.  For awhile I was questioning if i wasn't analyzing the deals correctly but after talking within my network my math is solid so at least i'm not jumping in and making mistakes (yet).  I'm still trying to understand my financing options and what fits me best because I have a lot of equity in my primary residence but a home equity loan kills my cash flow.  One day at a time!

Very excited to get going and take action so i'll just keep looking at deals nightly until I find the right opportunity!

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