All Forum Posts by: Jack Gardner

Dude, do not pay 40 grand to join a course. You can learn just as much about real estate on youtube as you can from any course. You want to know how people become successful in real estate? They do the **** that other people do not want to do. Like cold calling off-market property owners. Driving around for hours looking and making lists of dilapidated properties. Calling owners in pre-foreclosure. Making relationships (and, let's be honest, possible taking advantage) with people in unique situations. 

Other than that, you can follow the same path of buying MFH or SFH on MLS. You won't make a killing, but you'll get your foot in the door and make money over the long term. Like the really long term. Like twenty years long term. But you know what, the best time to buy a house was twenty years ago. The second best time is today. 

In a city like Minneapolis, I'm targeting cash flow but I don't begrudge others who target appreciation. The problem is, residential real estate prices are so stretched and inflated right now, I really don't see how they can keep appreciating at the 4% to 10% we've seen over the last ten years. Obviously all real estate is local, but valuations are at crazy levels all over the country. 

I'll keep targeting cash flow and take appreciation as the cherry on top. 

For those who remember my post earlier in the year, I ended up renting out both sides of my duplex for $1500 each (2 bed/1bath per unit). It's less than the $1600 I wanted to get, but I'm happy to have them both rented with good tenants. Here we go!

Damn man, real estate is a tough racket. I would have stuck with medical school. 

The best way to learn the multifamily market is to purchase a multifamily property. Of course, do your due diligence, listen to podcasts, read, research, etc. But once you’ve crunched the numbers and found a good cash-flowing rental property, if the numbers make sense, I encourage you to dive right in. I purchased my first rental property a month ago and I’ve learned more about real estate and home building in that one month than the rest of my life combined. Good luck to you. 

Very solid deal BUT WHY ARE YOU YELLING AT US!!

Location? 

Thanks to both of you for the replies. I was getting worried because I saw the rents in the winter were super low compared to what Rentometer spits out. I'm understanding now that the winter is just not a good time to have an open unit. I plan to sign a six month contract and see what happens from there. 

The property I purchased is in Logan Park neighborhood, west of the railroad tracks. I'm hoping to get $1600 for my 2bed/1bath units, but would be happy with $1500. 

Hello all - 

I am in the process of purchasing a duplex in Northeast Minneapolis and wanted to see if anyone had information on rents in Northeast. Are they going up? Going down? What's the median? Expectations for increases or decreases in the future? I've seen a lot of positive feedback about Northeast, though I have not spent any time there myself. Any info on the area would be appreciated.