All Forum Posts by: Alyssa Strom

@Karli F. I'd keep it since it was part of the original agreement. Just an FYI if your property is in St. Paul, starting 3/1 you can no longer collect more than one month's rent as a security deposit (one exception to this) or use a credit score as a screening requirement. If they've been great tenants so far I'd try and keep them! 

@Moly Yang TitleSmart, Land Title, Ancona Title to name a few!  

@Tiana Towns Here's the link and a way to sign up to be notified when it reopens. Funds can go quickly! https://www.mnhousing.gov/site...

@Tiana Towns Welcome! Hopefully most meetups will resume in-person meetings this summer and that's a great way to connect with like-minded investors. As far as your tenant who isn't paying ... the MN COVID rental assistance program is starting up again in a few weeks. If your tenant qualifies you can apply on their behalf. Potentially an option to get the unpaid rent and help your cash flow :-)

@Robert D Wade III Great idea! I've got a contact I will PM you. It's a tough market to start wholesaling in but offering to help an experienced investor could be a great way to jump in. Also, don't forget about house hacking. Such a great way to start building a portfolio from a young age with as little as 3.5% down. Maybe not achievable right now but a great RE goal to work towards!

@Jesse Collins House hacking a single-family home is a great way to be get started. Do what makes sense for your budget right now. The plus side of purchasing a SF home is that you will have far more options to choose from. That being said, if you are open to duplexes double-check that the lender you are working with understands financing multi-family properties. Not every lender knows you can use the property's rental income to help you qualify for a larger loan amount. 

@Kebrome Maru sr The lending side is fairly straightforward so working on your credit is key. If anyone can help it's @Tim Swierczek

@Naimo Khalif I think if you are set on investing in the Twin Cities you shouldn't completely eliminate Minneapolis or Saint Paul from your search. The suburbs are great too but everyone has that idea now. No investor or landlord loves the direction Minneapolis and Saint Paul has taken but there is still opportunity. Like @LeAnn Riley said a good property manager will help you navigate through the new regulations. Stick to your investing criteria unless it's unreasonable for the Twin Cities right now (finding more than 10% COC anywhere near the metro is like winning the lottery) and continue networking with agents to find the right deal for you.

@Erich Kliewer Second @Sean Blomquist at Pine Financial or Hendrie Grant.

@Raquel D. All I can say is do NOT use CSC ServiceWorks if you go the service route!