All Forum Posts by: Justin Thiesse

@Matt Millard It is the Ninja generation. No income, No job, No assets.

@Jay Hinrichs I hope prices keep going up. Maybe I’ve been in the game long enough that prices are starting to surprise me. I am kinda like the old man that says I remember when gas was a nickel!

@Hattie Dizmond They need a down payment?!! That’s very funny, because I talk to a lot of people that want in the game and they have no money. I recommend to them to find a good paying job and bank as much as possible. I also tell them to sell their house and live in a 4 plex or similar that they would own. They usually look at me like I’m crazy. They want what took me 20 years to create right away with little work. The new generation will make great renters!

@Hattie Dizmond Thanks for the reply. You have some very valid points. I may be paranoid, but everyone seems to want to be in Real Estate these days.

I have been investing in real estate for over 20 years now. I have seen good times and bad. Lately it seems like everybody wants a piece of the pie. ( things are Great) I keep wondering what will cause this bubble to fail this time. Some thoughts are; 1. Building prices keep going up, maybe tariffs will help this continue and labor is getting higher. 2. Most loans have are stable with money down and good credit 3. HIgher Interest Rates would slow things down I Guess I am look for Opinions on the future of Real Estate

@Joe Splitrock I agree, But I would bet you a nickel that they didn’t date for years before they moved in together. And I don’t condone abuse of any kind. I hope it all works out for her.

@Joe Splitrock I may be harsh, but the only way to make money in renting is to remove your heart from the situation. I’ve heard every excuse in the book for people breaking leases. If she bought a house with her boyfriend, do you suppose they would refund her money. I feel sorry for her but in my experience in renting it’s never their fault. I think she should pay out her lease and live with family. Consider it a lesson learned. I have given in to situations like this before as a landlord and it always seem to repeat.

@Kaleb Carsten Most courts will only make the tenant pay until the Landlord rents to another tenant. This can last a month or the rest of the lease. It’s not the landlords fault that your cousin has bad taste in men.

I don’t see water, sewer, garbage cost? Assuming you pay for them. There is usually a house meter for electric. $50/month to mow? Maybe a week. Taxes will definitely go up after the purchase. 100% financing is possible if you have 25% equity somewhere else, but you will need 1.25 debt coverage. Hope it all works out.

I happen to have a 8 plex in Mitchell SD. I think your price to build is a little low. The 2 bedroom for $1000 might be high. I charge $700 for a 2 bedroom including a garage. A new build could go for $950 possibly. I own and manage rentals for a full time job. I have tried to build several units and it has never penciled out. You must also take in account it will be empty day 1 up to 6 months. Message me anytime with any questions.