Newcomer to real estate market

11 Replies

Hi all,

I've been self educating for awhile and think its about time to start making some moves in the right direction. I'm looking at the Minneapolis duplex market for a live in and rent situation to start. Looking for any encouragement or direction. if anyone knows of a trustworthy agent with experience in rentals or VA loans id like to make a connection.

Thanks, i hope to make this a successful beginning with you all.

Hey @John Guion thank you for your service. House hacking with the VA loan is the best way to get started. Let me know if you would like to meet up for coffee.

Thanks for the warm welcome. Meeting for coffee sounds like a great idea.

Hey John, thanks for your service! The VA loan is going to be one of your "unfair advantages". Try to get the most out of it and keep an open mind. Consider triplexes and quadplexes to get even higher returns! Good luck!

Welcome John and thank you for your service! Glad you're ready to make it happen the only encouragement I have is try to take emotions out of it and focus on the numbers. When you find that duplex find the numbers that makes sense for you to feel comfortable and be conservative, then put an offer in and make it happen! Best of luck! Excited to hear about your successes!

@John Guion Welcome to BP! I am new as well and live in MN. I have found the community here to be awesome and full of great knowledge and experience!

Hey @John Guion Did you have any look with a duplex? I'm looking myself but my realtor said it's a bad market now for buying and am waiting for the spring. Also a newbie here :)

@Jacqueline Wright Ive found something very promising but it has been slim pickings otherwise. I'm in the process now of looking into Accessory dwelling units to maximize the duplex and still occupy. 

Welcome John! I'm pretty new myself, I just bought my first house hack in December and I'm working on getting tenants in it now. There are definitely options out there but it is rougher! Dont be afraid to think outside the box and try to find off market deals. Make sure you have a investment friendly realtor, if you dont there are so very many amazing realtors I can recommend on this site. 

If you ever want to meet up and chat real estate let me know! Good luck on finding a property and just do not stop looking. As Brandon Turner always says, evaluate 100 deals if thats what it takes before making an offer on one. Happy house hunting!

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