All Forum Posts by: Brittany Shearer

Just signed my first purchase agreement for a duplex and inspection is scheduled. Hooray! Besides the inspection, what additional information is recommended I ask to review from the seller prior to the contingency period closing? Appreciate the help!

@Anthony Vicino thanks for your feedback. I would love to connect with you more on St. Paul area and your experience.

@Bruce Runn @alyssa Strom I will definitely do that thank you!

@Bruce Runn thanks Bruce, you must be well respected as so many enjoy your feedback. Would love to hear where you like to buy. I appreciate your feedback all great 👍. The changes in the laws are not scaring me away, but I definitely want to know what I’m doing before jumping in. How many units do you own and do you self manage? It sounds like you do but just thought I would ask. Is there a certain criteria you like to see on your analysis of a property before pursuing? I’d be curious to learn more. I’m just glad to hear from some of my fellow Minnesotans!

@James Hamling

I enjoyed your comparison to Bridgemans ice cream 🤣 it’s very true. Yes, I get your statement and really I just wanted to ask the question and get a discussion going as I haven’t found much on BP discussing the recent months of chaos in the cities. If you want exact I would say northeast, west 7th and south east pockets of Mpls close to the river, which are all holding strong from what I see. If you have areas I should be considering I would love to learn.

@Larkin Adey thank you! I totally agree, it is a crazy time to dive in and thats why I’m being cautious jumping in. Im an impatient person, so it’s hard for me to not just want to jump in when we have the resources and time to do it, but I don’t want to be dumb. The few people I know who are even part-time investors of a few properties are sitting on the sidelines right now waiting for 2021 to see how it all plays out. Appreciate your insight!!

@David Barnett thank you, yes Iv been reading and talking to a few local property management companies and it sounds like St. Paul is now enforcing many of these renter friendly laws now too. That’s part of the reason I am a little nervous to make the jump into investing in the twin cities. To think about buying and holding a property for 15+ years is a little scary in the cities with how quickly things have changed in just a few years. We have family in Iowa that are big developers and apartment investors in Ames, IA and although it’s not ideal for us to do the landlord thing a state away, their laws are more landlord friendly, and it may be something we should consider more. Thanks again!

@Noah Chappell thank you I appreciate your recommendation and I will take a look at brandons link you sent to me. Iv been reading many books and listening to podcasts, we are ready to go, but I just don’t know if now is the right time. I have been doing my own hunting and had some success finding potential sellers, but nothing that’s been a deal worth diving into. Working with an agent that also specializes in multi-family and bring some leads off the mls, but everything has been expensive and sellers have the upper hand 100% right now agent or no agent, they know they can list it themselves of Zillow or mls and still get multiple offers.

Hey, I am starting too look at investing in the Twin Cities as I am from here and don't have a desire to start long-distance investing yet. Considering the past few months in the cities, the neighborhoods near downtown multi-family properties are still selling quickly, over-asking.  You can still find cash flowing investment deals in the mix, but Im curious if other investors in the area are selling and waiting for what happens in the next 12 months or still buying with the low rates.  I look at these multi-family duplex units selling for $340-$400 and it seems crazy to me. I would love to hear any local investors thoughts.  Take care.

@Joe Funarithank you this is very helpful!