All Forum Posts by: Nathan Platter
Nathan Platter has started 13 posts and replied 334 times.
Post: Direct Fix and Flip Lender, Luxury Properties Included 85/100

- Real Estate Agent
- Minneapolis, MN
- Posts 361
- Votes 296
You got my hopes up, I was alerted that a post mentioned 'MN' and it actually reads "ALL STATES (except NV, SD, UT, MN, OR)"
Friendly tip, you'll get better results if you list the states you do work in; AL, AK, AZ, AR, CA, CO, CT, DE, FL, GA, HI, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MS, MO, MT, NE, NH, NJ, NM, NY, NC, ND, OH, OK, PA, RI, SC, TN, TX, VT, VA, WA, WV, WI, WY
Post: Newbie investor in the Twin Cities area

- Real Estate Agent
- Minneapolis, MN
- Posts 361
- Votes 296
Hey @Rupa Nair ,
Welcome to the Forums! There are numerous real estate pros on the site and will gladly help you in whatever capacity needed.
Post: Cashflow formula for an owner occupied duplex?

- Real Estate Agent
- Minneapolis, MN
- Posts 361
- Votes 296
Hey @Jordan Lynam ,
In an Absent Owner situation, most investors aim to collect $1,000 of rents per $100,000 of property they buy.
Since you are wanting to cashflow while living in one unit, you have to raise your rent requirements to roughly $2,000/month per unit per $100,000
Those kinds of rents are incredibly difficult to find, in a neighborhood that you want to live in. Typically, the better the Rent/price ratio, the tougher the neighborhood.
When I bought my first owner-occupied duplex, we went for a great neighborhood and the other tenant paid roughly 60% PITI. We were ok not cash flowing because we knew we were in an A class neighborhood and the profits would come from appreciation. 2.5 years after the acquisition, we sold the building and realized a 22% appreciation (definitely atypical results)
In my opinion, if you're going to reside in the building, buy a 2-4plex in a neighborhood where you want to live and the appreciation will come.
Post: How do I measure the Real Estate Market?

- Real Estate Agent
- Minneapolis, MN
- Posts 361
- Votes 296
Hey @Luis Valdez ,
The real estate market (like any other market) has its ups and downs. There are always ways to make money when things are going great as well as other strategies to implement when the market is not so great.
As for measuring, real estate is both an art and science. If you're looking to own rentals, you buy when a specific deal meets your investing criteria (e.g. cashflow, appreciation potential, number of units,...)
If you're looking to make money wholesaling or flipping, you buy/sell when you find a specific deal that meets your profit margin requirements.
In both cases, don't base your action decisions on whether the market is hot or cold, but rather on the structure of 1 deal. If it doesn't meet what you need, go find a different deal.
Post: Finding a Realtor when you have friends who are Realtors

- Real Estate Agent
- Minneapolis, MN
- Posts 361
- Votes 296
Hey @Marcus Alig ,
You can use a friend as your realtor but explain to them this part of your friendship and you're looking for results. If they fail to fit your requirements, you will move on to someone else who can meet your expectations.
As long as there is mutual communication, your friendship should be preserved.
Post: What Are Your Most Important Market Analysis Metrics?

- Real Estate Agent
- Minneapolis, MN
- Posts 361
- Votes 296
Post: Properly Valuing a House After Repair

- Real Estate Agent
- Minneapolis, MN
- Posts 361
- Votes 296
I always go with a realtor's Comps in the area. When those are compiled, I also look at the quality of the finishes/interior to match with my target completed improvements.
Post: Opportunity Zones and How to defer gains permanently!

- Real Estate Agent
- Minneapolis, MN
- Posts 361
- Votes 296
Hey @Rafik Moore ,
You can download a list (Excel) of the OZ's here:
List of designated Qualified Opportunity Zones
For a visual map, you can view them here:
Post: 20% Down on a Non-Owner-Occupied Multifamily?

- Real Estate Agent
- Minneapolis, MN
- Posts 361
- Votes 296
@Tim Swierczek knows the Minneapolis loan space very thoroughly.
Sinc it's an absentee property you'll likely be stuck with 25% Like @Daniel Kurkowski mentioned, lenders stick with the Fannie/Freddie requirements.
Post: [Calc Review] Help me analyze this deal

- Real Estate Agent
- Minneapolis, MN
- Posts 361
- Votes 296
Hey @Iaroslav Demydovych ,
All in you'll have roughly 10% equity after purchase + rehab. Lenders these days (July 2018) only finance 75% so you'd have to contribute money to refinance at the end of the deal.