All Forum Posts by: Alyssa Strom

@Jane Lee My understanding is that a limited brokers license is only an option for a current RE broker. Without being a broker yourself, the only option is a salesperson (agent). There are many low-fee brokerages out there that could hold your salesperson license and you would achieve the same result. Determine how many deals you are looking to do each year and evaluate that against the yearly cost of holding your RE license.

Local investor @Bruce Runn will be discussing the Minneapolis 2040 plan, his insight on the plan and future investment opportunities with the zoning changes.

Welcome @Nils Hay! Love that you are thinking ahead. A house hack is a great first step. You get hands-on experience with being a landlord and property management that you can't learn from a book. Along with @Matt J.'s advice of building your network in whatever city you choose (lenders/investors/agents/vendors). I can only speak on Minneapolis but it has gotten more difficult to find cash flow deals here. Awesome market (and city!) that should continue to appreciate and I will continue to invest in but lots of competition and prices have made it a bit more challenging to find "deals". I'd run the numbers on some current MF properties for sale in each city you mentioned, decide where you'd prefer to live and then start networking before you make the move. The advice I wish I would have received is to get started sooner, the advice I'd give now is to buy right. If I can answer any more questions about the Minneapolis market let me know and best of luck to you!

@Christopher Cline Welcome! Lots of great networking groups/meet-ups around the Twin Cities to connect with all types of investors. We specialize in MF investments if you're thinking of going in that direction and want to meet for coffee!

Welcome @Sevy Bialke! Sounds like your experience and self-directed learning will set you up for further RE success! Once you're back in the Twin Cities, attend as many meet-ups as you can. Great way to meet local investors and find some deals outside of BP! 

This month local investor, Evan Uribe, will be discussing how he personally uses creative financing to grow his rental portfolio.

Welcome @Kejin Wang! I would highly recommend attending the wide variety of meet-ups and other local events to start building your network. One of the best ways to build your team and see who you'd like to work with. I'll send you another local resource I really like as well! 

@Julia Trcka I'll send you a recommendation! 

@Brett Bennett Got it! I was thinking upcoming investments meant cap ex for your current property. @Tim Swierczek would be a great resource for exploring home equity options and running those numbers. Without knowing your exact financial position, I would probably sell and use the proceeds on some out of state multi-family assets. 

@Brett Bennett What are the planned upcoming investments? Could you sell without these improvements? A SFH in Prospect Park is an awesome asset to have so like @Alan Grobmeier said you've got a ton of options. Either way I'd leverage it (through equity or a sale) in order to work toward your long-term goal of accumulating more units.