All Forum Posts by: Daniel Anshus

@Michael Deitch let’s talk! I can get you connected with the most active wholesalers in the twin cities.

@Wade Luhman you should definitely come to this awesome local REI meetup this week to network with other investors and hear how local investors are buying apartments in the twin cities. You can find it on Facebook at Duplex Dan or on meetup.

@Dan R. Feel free to message me. I have plumbers and a handyman or 2

@Will Gleason in the Minneapolis market you are almost never going to find something that cash flows  while you live in the property. The  point of house hacking is to lower your monthly expenses (have your mortgage payment less than your current rent) and get started in investing with a low down payment option. 

You should be saving 5-7% for both capex and maintenance minimum, on these older properties. Is maybe  clearing 4-500 a month actually profit after 10-14% for maintenance, capex, and at least 3% for vacancy? And most investors I speak with are looking for a minimum of $200 a door after all expenses. So, I would say $500 a month for a 4 plex isn't a good investment. But, if it is your first deal and it's a good building in a good area, it could be a great first step. The first property is the hardest but, once you get the first one done you will learn so much from it and will be thankful for it. 

Hard to tell you yes or no without seeing the property, your numbers, your goals etc. This is where you need to lean on your agent to make sure you are making a good decision. 

@Thomas Hartman flat roof or pitched roof with shingles?

@Kunal Lakhwani I have not heard of them, but I would definitely ask them how many out of state investors they are managing for. Managing for out of state buyers is definitely different than in state and it can really make or break you. I would make sure they have great systems in place and have great communication with you.

@TJ Walstead if the cash flow is already tight and you can’t increase rents to increase that, then In my opinion a heloc isn’t a great option. You’re going to completely strangle the cash flow and it’s not enough money to buy a property outright and use that income to pay back the heloc. In my opinion it would be a perfect time to use all the capital you have, especially since interest rates are continuing to climb.

@Adam Putschoegl I would say for short term rentals make sure you are aware that Minneapolis passed an ordinance that you can only have one short term rental. Also North Loop is mostly condo buildings and I believe only one of them allows short term rentals. So probably not a good spot for that.

@Keio Gunn what do you have and what do you need help with? Pm me and let’s see if I can help get you the most money

@Sam German I agree with Tim. Adam is a str wizard!