All Forum Posts by: Kyle Soderman

Hmmm interesting.... Thanks for the replies Peter Mckernan and Fred Heller I suppose I should also mention it is only a half day class that is free to attend so it is not that big of a deal. I have just never heard of it before. I actually think it will be beneficial to my investing to better know the local requirements for landlords.

I found something interesting about my city today. Apparently you must license your property as a rental property prior to having tenants. This has some fees associated with it. This makes sense. The thing I'm more surprised about is that St. Cloud, MN requires a landlord to go through a rental licensing class in order to rent out a property. I also believe there is some sort of annual fee you must pay in order to keep your license. 

Is this true with most cities or is this unique to my city? I have just never heard of this before.

Thanks for the tip @Eric Gard! I have heard of other people suggesting that game as well.

That is a great idea @Daniel Okon! Thank you

That is my idea but first I actually have to connect with local investors before inviting them to a meet up. It is hard to invite people if you don't know where to find them. You know what I am saying @Daniel Okon?

My first concern is figuring out who is investing in my market, then connecting with them.

Recently I have been on a mission to find local investors to connect with (In my city). I have connected with a couple in the St. Cloud area but there are not many on BP. Through internet searches I also came to realize there are no REIA meetings either.

I know there are investors in the area but I'm not sure how to find them... How would you do it in my situation?

There is a vast number of BP member in the Minneapolis area (only about an hour away) but it is hard to find time to make it to the meet ups around there.

Welcome @Greg Olson!

I suggest looking into local meet ups in the twin cities area. I know there are a few of them. I cannot attest to which ones a worth while and which ones are not as I typically don't have time to make it down to the cities. Hopefully soon I can make one!

Enjoy the site!

Welcome @Connie Herzog! I'm out of St. Cloud, MN... so not too far from buffalo. I am typically in the buffalo area twice a week as I go to a gym in buffalo/ St. Michael. Do you guys know where you want to invest yet?

To answer one of your questions within your post @Nicole Carey. It seems like most investors around the sight like to see at least $150-$200 per door per month in cashflow. So with your cashflow estimate of $831.91, you definitely hitting that mark.

@Ned Careyand @Wayne Brooks I didn't even think of that... that is very true with what you said about foreclosure auctions. You don't typically get a chance to view the property in its entirety. 

@Doug McLeod In the end I would have to agree with you. I did a quick run of the numbers (just for fun) and it was a pretty decent deal but no where near a slam dunk. Too much risk for what I'm looking for.

Thank you guys for your responses.