All Forum Posts by: Dillon Dale

@Shane Farmer hi Shane, I'm an investor and agent in southern MN. I'd be happy to connect!

Yep, it's how many unrelated occupants the city allows to live there

Hey, just wanted to provide my thoughts on your analysis. Overall, you did a very good job. I know you ran the analysis as a house hack, but it's important to run the numbers as a traditional rental as well to ensure it will cash flow when you decide to move out. I like the 10% each for capex and repairs, as it's a conservative estimate and should cover any deferred maintenance from the previous owners. I also like 8% for vacancy, which is essentially one month vacant per year. Mankato is a high turnover market, and while you can likely get a new tenant easily, you likely will have to do repairs after moveout that could increase your turnover time. I would definitely have tenants pay for all utilities, especially in a single-family house. Mankato is strict with issuing rental licenses, so it is best to inherit a property that already has a license in place for up to 5 unrelated. The city pretty much exclusively issues licenses for up to 2 unrelated now, and they only allow about 25% of homes in a neighborhood to be rentals. 

@Vinh Nguyen do not provide keys until they provide payment

@Collin Lee Johnson hi Collin, I'm a local investor and agent and would be happy to connect and talk real estate! I am going based on the assumption that you're in business to make a profit, so if that's true, you just need to make sense of the numbers! Whether you're doing BRRRR or flipping, you need to make sure you're able to profit from the work you put into it! In this market, deals are hard to come by, but it can certainly still be done

@Tyler Stindtman hi Tyler, I am a BRRRR investor myself as well as an agent. Would love to connect!

@Bridget Y. @jesse definitely check this out. Bridget runs a great meetup!

@Kevin Hintz they'll mostly want to see proof of w2 income and low dti, which they'll obtain from pulling your credit. A good presentation will only make a difference if you're on the fringe of being able to qualify, and even then would likely not make a difference

@Nathan G. Yep, best to start with the easiest, cheapest solution first!

@Sean Grady yeah you can pay your agent out of pocket too if the seller won't