All Forum Posts by: Daniel Anshus

@Account Closed if you want to get into buy and hold investing do that. Don't start with wholesaling if you're just going to stop it after a year or 2. Real (successful) wholesalers do it as a career. It will be cheaper to get started in buy and hold investing anyway. You can start buy buying property in Wisconsin (or MN) and living in the property, whether it be a multi-family or single family. You can get $0 down payment loans or 3% conventional loans with down payment assistance programs.

I would say you can get started getting or creating an excel spreadsheet to underwrite deals (BP has these calculators for pro members). Then learn what average utility costs are for areas you are interested in. Simple google search will do. Then start looking at properties on the MLS and running the numbers.

@Account Closed if you are good with numbers and can learn how to effectively and efficiently underwrite properties then you are already invaluable for many. Become a master at working numbers and then meet with investors and tell them what you are amazing at. I could give you tips on both of those but I want you to figure out which one you are more interested in and which one gives you what you want. They are both businesses and are not easy to do. A lot of people think wholesaling is easy and free to do. That is not true. 

First thing I think you should do is figure out your "why" and figure out what type of investing helps you reach that why. Then start learning your niche so that way you can find your strengths and your weaknesses and then you can network with others and find somebody who offsets your weaknesses.

@Account Closed I think you are going to get more interaction if you join local REI facebook pages and individual message people you see doing what you want to learn about. A generic post to help anybody doesn't help anybody because we don't know what you can do and we don't know what you want to do.

For example I have an investor who wants to replace fuses with updated electrical. Are you able to help me with that? I have an investor buying a vacant literally empty shell of a house to renovate. Can you help with any of that process? 

What I'm trying to say is narrow down what interests you and excites you the most. Want to house hack soon? Read everything about duplexes and house hacking. Speak with lenders like @Ben Walker and figure out how to set yourself to do that. Once you have an understanding of what you want to do and some knowledge reach out to people that are doing that and tell them what you are good at and what you want to learn. This is the way to success. Don't come to thanksgiving empty handed, same goes with REI. What can you provide to an investor. Figure that out and you will have the power.

@Janel Y. your LLC can have a po box address. No need for it to be your personal address

@John Woodrich is the most experienced and certified REI accountant you will find in MN. He is an investor himself so he knows more on tax and REI than most people know about either

AS @Alyssa Strom stated check up on the moratorium. You are (most likely) not going to be able to evict someone

I have a client looking into developing a "tiny home" community for vacation rentals. In looking on google it seems like this concept is practiced in several states. I wanted to see if anybody on here has done this and has any insight to the process? Would love to see what peoples thoughts are and see how profitable this adventure may be. 

Thank you all in advance!

This thread seems like the absolute best place for me to start asking questions! All the info in here is great, so thank you to everyone who already shared great information.

I have a client who is interested in building tiny homes (either mobile or permanent) as vacation rentals. I wanted to ask you all where do we even start and what are some of the questions we need to ask? We are at the very beginning stage and haven't identified much besides general locations. Would the first step be too identify 2 or 3 areas and then dive into the zoning of those areas?

Thank you all for the help!

@Luis Arellano the garage rent will differ on location. But many areas of Minneapolis I see landlords charging $100/ month for covered parking. 

@Anthony Brown what investing are you looking to do out in the west metro? If you are looking to do a duplex househack I will let you know there are little to no multifamily in the west metro. Would love to talk more and see what would be the best option for you.