All Forum Posts by: Isaac Braun

I would definitely vote no on this. It doesn't cashflow plain and simple. And you should always account for property management in your numbers as well as vacancy. With property management, you are looking at 7-10% of the monthly rent per month. Then run a 5-8% vacancy as well. I personally budget 10% management and 8% vacancy as well as 12% repairs. You may not have repairs now but surely you'll have repairs as tenant turnovers and you'll want some money stockpiled in case that furnace goes out in February or the Dryer stops working etc etc. Thats not to say this deal could never work. Maybe you could structure it with seller financing with a 50 year amortization so your PITI is much lower. There are endless possibilities, but with a 15% down conventional loan at today's rates, this does not even come close to cashflowing. Best of Luck

I agree with @John Woodrich and @Jordan Moorhead.  Ive seen many older homes that do not have level floors.  Im speaking for the St. Cloud area specifically since that is what I am most familiar with, but I am sure this is an issue anywhere.  Foundations settle over time, some more than others.  

So awesome @Jordan Moorhead!!

Welcome @Lynn Anderson.  I would recommend starting with a good resource for financing with @Tim Swierczek and then reaching out to @Jordan Moorhead to find you a deal.   Best of luck

@Tom Henderson. He'll likely use AutoCad or Revit, I know Alignex in Edina sells the software and offers classes as well.  I'm sure the local community colleges and Tech schools all have classes.  There is also a huge amount of drafting content on YouTube if he already owns the software. 

@Tom Henderson, what sort of draftsman is your friend looking to become?  There are quite a few different softwares.  Some geared for manufacturing, some geared for home building, some geared for interior design etc etc etc

Maybe they are referring to old or expired listings? Not sure.  Getting to know an investor/agent like @Jordan Moorhead is a great way to find deals though.  

There are quite a few meetups around.  Check on Meetup.com for more. MNREIA puts on quite a few meetups.  @Jordan Moorhead does his own meetup as well.  I have been to a MNREiA meetup but have not been to any others as they usually occur when I am still at work, so I cannot speak for the other meetups.  I believe @Amber Gonion hosts a meetup as well.  

I would first get financing figured out with @Tim Swierczek. And then I would contact @Jordan Moorhead to get a feel for small multifamily in the area. Both of these two invest in Multifamily around the twin cities and will be able to give you direction on your investments.  Best of Luck

Start with asking  @Tim SwierczekHe is a loan officer and a real estate investor and should be able to provide you with good direction.  Best of Luck!