Rental Property Investor · Minneapolis, MN · Member since 2016 · 161 posts · 221 votes
My wife and I had been interested in purchasing a rental property for about a year with the intent of making this a business. She's a teacher, I'm an engineer and we have little faith in the future of Social Security / 401k stability. So bring on the house viewings! After many viewings we decided to look at a 'slightly' downtrodden 1954 ranch with the right square footage.
Notice the fancy red-white-blue spray painted garage windows! Seems like we may have an artist on the premises (more on that). After viewing the place twice, researching the rent comps and recently sold comp values for the area we decided to purchase it. Here is my wife after closing...inspecting her snazzy new $60,000 purchase (so much better than an escalade).
Your wife and I are kindred spirits. If things don't work out between the two of you, please give her my number. She and I would be a match made in heaven because clearly she knows what hell looks like.
I started this journey in 2016 with almost no experience at all:
- Clowntown Brothel - July 2016 purchase, rehab takes until late July 2017; Purchase: $61,120; Rehab $21,000; rent $1150; PITI $515; Profit about $600 per month
- HUD Trainwreck Purchase - March 2018 - $125,120 purchase, rehab so far $7,800; PITI $730; Should rent this spring for $1350
- Minty Fresh colored 1900 built Duplex Purchase September 2018 - $243,500; PITI $1339; main level rent is $1250, small rehab $2,000, I live upstairs; this one is by the University of MInnesota
@Tim Kiser; I do a lot of stupid things Tim, haha, I'd rather people didn't see most of it.
If you guys like the Investa-Brothel post here's a recent hit I like to call "It's -34 degrees in Minneapolis and the pipes in my passive investment are frozen"
In the neighborhood I grew up in they built a totally passive solar house in the late 70's . It was part of a Kent state university architectural course . A bunch of hippies lived in it and when they moved the new owner plumed in a gas line and roofed over the passive solar part and got rid of the composting toilet.
In the neighborhood I grew up in they built a totally passive solar house in the late 70's . It was part of a Kent state university architectural course . A bunch of hippies lived in it and when they moved the new owner plumed in a gas line and roofed over the passive solar part and got rid of the composting toilet.
We are settled in with a snowstorm in Central Arizona. Our passive solar is augmented by a large Vermont Castings (knockoff from Korea) stove in the living Room. We have stucco over 2 1/2" of insulation over block construction. Warm and cozy in winter and cool in summer. It's all about siting for optimal sun tracking.