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All Forum Posts by: Dillon Dale

Dillon Dale has started 6 posts and replied 217 times.

Post: What would YOU do if you have a large sum of money?

Dillon DalePosted
  • Real Estate Agent
  • Owatonna, MN
  • Posts 221
  • Votes 152

@Jonathan Yeh sorry, for myself I would house hack a fourplex at 3.5% down, then invest the rest 20-25% down on the biggest property i can buy

Post: What would YOU do if you have a large sum of money?

Dillon DalePosted
  • Real Estate Agent
  • Owatonna, MN
  • Posts 221
  • Votes 152

@Jonathan Yeh buy the biggest property I can at 20-25% down

Post: Where do you park your rental income?

Dillon DalePosted
  • Real Estate Agent
  • Owatonna, MN
  • Posts 221
  • Votes 152

@Mathew Fuller look into a credit union. I hate banks that charge fees like that

Post: House Hacking Minnesota

Dillon DalePosted
  • Real Estate Agent
  • Owatonna, MN
  • Posts 221
  • Votes 152

@Hunter Nelson I bought my first property as a junior in college as a house hack. Definitely doable and a great wealth builder.

Where in Minnesota are you located? Most of the college town markets in MN will cash flow very well. Feel free to reach out to me if you need anything!

Post: Credit and Background checking prospective tenants

Dillon DalePosted
  • Real Estate Agent
  • Owatonna, MN
  • Posts 221
  • Votes 152

@Tyler Eastman I use Zillow. Quick and easy, both for you and the prospective tenant.

Post: Help with selecting flooring

Dillon DalePosted
  • Real Estate Agent
  • Owatonna, MN
  • Posts 221
  • Votes 152

@Olufemi Olusanya I second what John says. Traffic Master Allure from Home Depot. I also use the Khaki Oak color. It goes for $1.79 per sqft in my area.

Post: typical fake lender for all you starting out borrowing money

Dillon DalePosted
  • Real Estate Agent
  • Owatonna, MN
  • Posts 221
  • Votes 152

@Jay Hinrichs yep, got a similar message on LinkedIn. Basically, if it sounds too good to be true, it is.

Post: Where are the young investors?!

Dillon DalePosted
  • Real Estate Agent
  • Owatonna, MN
  • Posts 221
  • Votes 152

@Nick Rutkowski it has been easy to get started because I have a strong WHY. But, there have been many challenging obstacles along the way.

Facebook has been the big one for marketing to tenants, but I post a bit of what I'm doing to family and friends on Instagram

Growing up in Minnesota, most of my friends are moving to the Twin Cities because that is where the jobs are.

My only interest is in residential real estate, but if the right opportunity comes along I'll take it

Post: Should I Open a Savings Account - Where?

Dillon DalePosted
  • Real Estate Agent
  • Owatonna, MN
  • Posts 221
  • Votes 152

@Flash Alexander I have one with Barclays online bank. I think their rate is currently 2.35%. Much better than .01% Wells Fargo offers me

Post: Have $40k and ready to start investing

Dillon DalePosted
  • Real Estate Agent
  • Owatonna, MN
  • Posts 221
  • Votes 152

@Zack Ellard how much money are you able to save each month given your current budget? If you are able to save a decent amount, I would consider consolidating the credit card debt to a lower interest personal loan. This will also help your credit score by lowering your utilization rate. Then you can buy real estate and let the debts pay themselves off. 40k is plenty to get started investing and boost your monthly cash flow!