Newbie Investor from Minneapolis

[Tiana Towns]

Hi BP Community!

I am a newbie investor out of Minneapolis looking to grow my portfolio and eventually leave corporate America to manage my properties.

I currently own two duplexes, which I acquired through owner-occupy purchases. I’m currently making enough to cover the mortgages, but am not cash flowing at all. When I purchased my first duplex 24 months ago, I didn’t have a plan, I just found this great house where the tenant’s rent was coving the mortgage and I wanted to live mortgage/rent free and had no real intention of being an investor. The second property was just a great off-market deal on a turn-key property. I’ve had a ton of beginner’s luck, but I’d like to be more intentional with my properties and start to make these assets work for me. But I have a TON to learn.

My immediate goals are to 1) snag my third multi-family property in the next 6 months or so, 2) get the other two properties cash flowing, 3) to get rid of one tenant who has been taking the advantage of the eviction moratorium (I get sooo annoyed when I think about this), and 4) leverage my experience as a litigator (I specialize in real estate and construction disputes, so let me know how I can help!)

Looking forward to connecting with other investors, realtors, lenders, and contractors, and learning from you folks!

Tiana

[Isaac Larson]

It sounds like you're off to a solid start!  I would be happy to connect and learn a bit more about your current properties and discuss how to potentially get them into the cashflow zone.  I'd also be happy to share how I run analysis on properties when looking to add to your portfolio to help ensure the next one will be generating income as quickly as possible :)