All Forum Posts by: Erik Sherburne

Awesome congratulations!!

Not to be that guy but, it depends. For me condos has worked well. Less maintenance but still building equity and cash flowing well. Figure out why you are doing it (cash flow to replace income, building wealth, diversify, retirement, etc) then see what the markets you are in has to offer. Good luck! (And don't overthink it too much)

Congrats! Tony Castronovo

Just do it.

Preference? And then the natural follow up - why?

As a fellow Twin Cities investor, welcome to the community!!

I've got a lender that will do a portfolio loan of 80 LTV (I just did it twice late last year) PM me and I can get you the contact info

Curious what your best practice is when you get multiple applications that all meet your criteria. First come first serve? Best application? Roll the dice?

I'm finding properties that haven't yet reached the sales price they were in 2007. Granted that was a bubble but is it unreasonable to assume that they "should" get back to at least those levels in the next couple years? They are in the mid $100k and are about 10%-15% from 2007 in good neighborhoods. This isn't a bet on appreciation as they still cash flow but moreover future planning/selling.

I haven't used them but am considering Guardian and I have a friend who is starting up with them. Good luck!!