Intro and advice

Intro and advice

Anoka, MN · Member since 2026 · 2 posts · 2 votes

Hey team, I just joined today. I’ve been part of Minneapolis real estate investing for a couple years now since 2014-ish I’ve only done a few deals and I’ve basically done the house hacking method with roommates and or renting after I upgraded now I’m in a fairly large house with limited access to equity and I have a large family so no real opportunity to house hack at least it’s not as easy. I have two rentals currently a condo that cash flows for $150 a month a single-family home in the North suburbs that cash flows for 800 a month both rent are under Mark but they have been long-term tenants so I’m reluctant to increase for now. I am curious how anyone else’s level up and expanded business. I currently work a full-time job and make a a solid six figure salary. My passion though is real estate investment. My intent, here is kind of threefold:

  1. 1. I would like to network get to know other people’s journeys how they’ve leveled up their business and really expanded

  2. 2. I’m really interested in learning the creative ways to finance their purchases and upgrades.

  3. 3. Looking for Waze to identify deals and even if it’s tried and true methods of calling or craigslist or driving around for just wondering what worked for people and kind of brainstorm what else I can do

  4. 4. (I know I said 3). To also see if anybody has any specific advice for me on my journey on how to just get the next property and what step would be best in my situation just looking for things to consider potential routes.

Thanks for anyone who’s reading us? I appreciate it and looking forward to chatting with everyone.

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  • Vaibhav PuranikPro Member
    Member since 2025 · 47 posts · 19 votes
    3w

    Hi Sean,

    This article on Bigger Pockets is pretty comprehensive in my opinion - describes various ways of creative financing - https://www.biggerpockets.com/blog/creative-financing

    I am a multifamily syndicator based in LA. I have 82 units and I am open to have a phone call with a relatively newer person about any questions they have. If you are interested email me a vp @ oldmoneycapital.com 

  • Arman AhmedPro Member
    Real Estate Agent · Columbus Cleveland Dayton, OH · Member since 2024 · 2k+ posts · 914 votes
    3w
    Quote from @Sean Schwartz:

    Hey team, I just joined today. I’ve been part of Minneapolis real estate investing for a couple years now since 2014-ish I’ve only done a few deals and I’ve basically done the house hacking method with roommates and or renting after I upgraded now I’m in a fairly large house with limited access to equity and I have a large family so no real opportunity to house hack at least it’s not as easy. I have two rentals currently a condo that cash flows for $150 a month a single-family home in the North suburbs that cash flows for 800 a month both rent are under Mark but they have been long-term tenants so I’m reluctant to increase for now. I am curious how anyone else’s level up and expanded business. I currently work a full-time job and make a a solid six figure salary. My passion though is real estate investment. My intent, here is kind of threefold:

    1. 1. I would like to network get to know other people’s journeys how they’ve leveled up their business and really expanded

    2. 2. I’m really interested in learning the creative ways to finance their purchases and upgrades.

    3. 3. Looking for Waze to identify deals and even if it’s tried and true methods of calling or craigslist or driving around for just wondering what worked for people and kind of brainstorm what else I can do

    4. 4. (I know I said 3). To also see if anybody has any specific advice for me on my journey on how to just get the next property and what step would be best in my situation just looking for things to consider potential routes.

    Thanks for anyone who’s reading us? I appreciate it and looking forward to chatting with everyone.

    You’re already in a solid position with two rentals and a strong W2. At this point, I’d focus on finding ways to scale without putting all your own cash into every deal. I’d also look beyond Minneapolis and compare Midwest markets, where lower acquisition costs can make the next property easier to pencil.

  • Ashish AcharyaBusiness Member
    CPA, CFP®, PFS · FL · Member since 2017 · 5k+ posts · 3k+ votes
    2w

    Networking, deal sourcing methods, and creative financing tactics are really community questions others active in Minneapolis can speak to better.

    Where the tax side comes in given your six-figure W-2, since you're keeping rent below market on long-term tenants, that's fine operationally but worth knowing it doesn't affect your depreciation or expense deductions either way, those are based on your actual costs and basis, not on what you could be charging. What does matter more given your income level, your rental losses are likely limited by the passive activity rules unless you or a spouse qualify for real estate professional status, which is tough to pull off alongside a full-time job, so don't count on these two properties offsetting your salary directly right now.

    With limited equity access in your primary home, cost segregation on your existing two rentals is worth running the numbers on if it hasn't been done, that can free up depreciation that helps even without REPS, since it can still offset passive income from these properties or carry forward for later. As you look at the next purchase, a DSCR loan sidesteps needing personal equity or heavy W-2 qualification since it leans on the property's own cash flow instead, worth exploring given your primary home equity is tied up.

    Happy to connect!

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  • Brad SeidBusiness Member
    Lender · Licensed in 28 States · Member since 2026 · 127 posts · 33 votes
    2w

    @Sean Schwartz You’ve already built a solid foundation with two cash-flowing rentals. The next step may be finding the right financing strategy to leverage what you have and acquire the next property without overextending yourself. If you’re exploring creative lending options, feel free to reach out. I’d be happy to connect and discuss what might work for your situation.

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