First Duplex Closed in Minneapolis

First Duplex Closed in Minneapolis

Jordan MoorheadBusiness Member
Real Estate Agent · Austin, TX · Member since 2015 · 5k+ posts · 3k+ votes

After finding BP a few years ago I have finally closed on a duplex in Northeast Minneapolis!

I've been wanting to invest in real estate since I was in my teens (I had odd interests as an early teen) and have been waiting to be able to buy due to owning a small business and needing to qualify for a loan.

The home was purchased for $177000 and needs around $10k worth of work. We are replacing the gravity heater and remodeling the lower unit.

I'm excited to really get started investing since I've been learning for several years, thanks BP!

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Heidi PliamPro Member
Attorney, Investor, Syndicator · Minneapolis, MN · Member since 2016 · 40 posts · 39 votes
9y

Congratulations Jordan!  Since funding is a frequent stopping point for many new investors, would you mind sharing with us how you found your way out of that roadblock?

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  • Jordan MoorheadBusiness Member
    OP
    Real Estate Agent · Austin, TX · Member since 2015 · 5k+ posts · 3k+ votes
    8y
    Update on this property: The furnace ended up being fine, which I found out through an inspection. I remodeled the lower unit, did some other minor repairs and replaced the siding with vinyl siding. I rent the top unit, rent a room in my unit to a friend and have made over $6k on Airbnb’ing the back porch since March.
  • Cerritos, CA · Member since 2017 · 39 posts · 5 votes
    8y

    That is great. Awesome. Jordan.

    Looking for a triplex or fourplex my self by end of January. In Ca, tying to buy in the Midwest. Budget 150k to 200k. Either seller carry or 5% down.

    Anyone has some ideas.

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