All Forum Posts by: Jacob Hanson

There is a quadplex that I'm looking into that is across the street from a large apartment building.  The quadplex seems like an ok deal, but is the apartment going to dictate my rents and what the tenants should expect to pay for utilities?  I'm afraid that because the quadplex is a quadplex by design that it is too similar to the apartment to provide any advantages to the apartment building.

Does anyone have any insights?

I'm house hacking a quadplex. So I'm living in one unit and renting out the other three with a Home Possible 5% down loan. After a year of primary residence, can I jump right into an FHA loan with another quadplex? Or are there going to be issue with the primary residence questions from my lender (either the lender for the Home Possible loan or the FHA)?

It's not clear to me if my lender will allow me to make another quadplex my primary residence or if a new lender will allow me to do it either.  And in this scenario, with two different loan types, do I need a reason for changing primary residence (i.e. closer to work, better home, lost a job, etc.)?

I'm a new investor, starting out in the Twin Cities.  I've been looking into district/communities of north St. Paul and the northern suburbs to find a couple du/tri/quad plexes to invest in.  I would like a community that is safe and/or improving.  Does anyone have any experience in the Minnesota area?

A couple areas I'm curious about are the Payne-Phalen, Como and Summit region of St. Paul and Little Canada.  Thoughts?