All Forum Posts by: Corey Hawkinson

@Jason Schaffer Welcome from another Twin Cities investor. Hopefully you find better groups that aren’t pitching you anything.

@Andrew McKinnon Makes sense. I thought you were going to try to sell me on Houston. As a side hustle I have gone much slower than other investors here, after 10 years I’m only at 7 “doors” but it has worked out well for me.

My retirement plan is split between 401ks for myself/wife, direct real estate investment, and passive investing. The passive investing side is the only one behind schedule for me. I’m looking into out of state investing now in relation to that, but I’m not sold yet on OOS investing.

@AJ Smith as Adam mentioned the neighborhoods can vary greatly. I understand that you’re probably a year out from buying and moving to Minneapolis, but if you were serious about Powderhorn it would be wise to follow along with the homeless camp going on there right now. I’m not sure how that will change things long term for that neighborhood.

@Andrew McKinnon Not yet. Why do you ask?

@Wade Kulesa Dave Ramsey is tremendous at helping people get out of debt! I’m happy to hear that his path worked so well for you.

However, his advice on real estate investing doesn’t work in the real world. I guess I’ve only been a real estate investor for 10 years, but it has been great to me. Keep in mind that it is my “side hustle” and not my main job. I use leverage and will continue to do so. I remain conservative though.

@Janel Y. I was hoping someone with more knowledge would respond since I have not used a property manager before, but I want to make sure another Twin Cities investor receives a response. From a local real estate investing group the property manager responses I saw were:

Neal James-Lawson with Dream Team of MN

Josh Brooks with Wits Realty

Twin Cities Leasing

Any other Minneapolis based people have better recommendations? Hopefully adding ‘Minneapolis’ to this thread will set off the keyword search for all of the other local Minnesota investors on this site.

@Hamed Camara As far as keywords go, if you include Columbus and Ohio in your comment that will notify people who have either of those keywords and they will come read this thread. I specifically mention Columbus as I know there are several investors from that area and I’m guessing they will like to help out. (No need for a new comment, they will get a notification from this comment.)

Keywords help as there are too many threads to follow. I put in 3-4 keywords related to my local area so I can be sure to check out those posts without needing to go through hundreds. Others have a keyword search for a type of investing so they can go to those posts.

@Anthony Lopez Speaking in very broad terms, Republican voting states are more landlord friendly. However, keep in mind that “landlord friendly” is only 1 piece of the equation. Many landlords who own properties in areas that are not landlord friendly have been extremely successful. If you live in Chicago and know the area you will likely be more successful there instead of trying to go out of your market just for a landlord friendly area.

@Sisiley Bao I was one of the people who suggested those areas which was related to someone who works in Plymouth which is on the west side of the Twin Cities. With your jobs in downtown / UMN West Bank that leaves many more options. That other person would want to avoid the East side of the Twin Cities because the drive would be too much for him. You won’t have that issue. Anything that is within “The Loop” or less than 10-15 minutes outside of that could work for you. “The Loop” refers to Interstate 494-694 which loops around the metro.

Since the map for you is much more wide open, instead of recommending an area for you to search I would suggest having a conversation with a realtor or a few to define what you are looking for in an area. We can certainly suggest realtors if you are looking for a good one. (One already commented before me)

@Paul Sandhu You most likely didn’t have to lie. At a previous job I would call our competitors and get their pricing structure. Never had to lie to get it. They might have assumed I was a potential customer, but I never said who I was and they didn’t ask.