All Forum Posts by: Ryan Tuleja

Iam on the hunt for my first property here in Minnestota and got two uprises recently. First, my rate went down from 5.01% to 4.89%, and second, Fannie and Freddie backed loans require 25% down on multi-family investment properties to avoid PMI.

The first suprise really wasnt that suprising, as I know these move around periodically, but I was caught off guard by the 25% down thing and it completely trashes what are already borderline unacceptable COC returns.

Hey folks,

I have been told by two lenders now that I need to put 25% down to purchase a duplex.

Do any of you have lenders you can recommend that still use the 20% number?

Thank you, @Shawn Ackerman. All my numbers and percentages line up pretty closely with what you've listed (I used 10% for maintenance and 10% for capex).

I'm guessing the rental rates in that particular area are just too low...

Hey Bryce,

What is driving that Maintenance bill?

Hey all,

Do you guys calculate capitol expenses, management fees and annual repair costs into your valuations on these 30k properties? Can anyone show me an example of how they do that? I'm not sure if it's just the Minnesota taxes or if I'm doing something wrong, but I cant seem to make the numbers work on the few that I've run.

@Brian Mathews is absolutely correct. "Refurbishing" a heat pump isnt a thing. If the compressor and  Fan (s) are new, you have a new unit and with manufacturing costs being what they are, it's just cheaper to buy all new than to try and stuff a new compressor into an old unit, particularly if the old on has a lower than now legal SEER rating.

Thanks all. I'm going to take a second look at a small triplex in St paul and if My wife and I decide to pull the pin, we'll reach out to them!

Hey folks,

Do any of you have property managers that work in the frogtown are that you would recommend? 

I hadn't thought about the ones that are "back on the market"... but that's good advice, I'll watch them more closely.

I've started walking houses recently and you guys arebright, I went into one that seemed priced pretty reasonably for the area, only to find water damage all over the house... just not in the areas that were photographed....

 Laura,

Theres a very real possibility that I'm screwing up my numbers! ;)

I am generally looking for multifamily units in the sub $100k c+ to b-  in suburban/almost rural areas. There isn't much  here in Minnesota....