All Forum Posts by: Stacy Helman

Jesi, I just traveled to Maui for the first time in early January, it is so beautiful. I’m so sorry for the devastation of the wildfire in Lahaina.

Quote from @Mimi Wright:

Hello,

I found a nice side by side duplex in the suburbs of Minneapolis.

The duplex is a split level. The main living area is on the first floor. You have to go down a few steps to get to it. The 2 bedrooms are upstairs. 

Both apartments are currently rented, would this be an issue in the future to get tenants? Is it more difficult to sell? 

It has been on the market since January. They had one offer but it fell through after inspection.

There are not multiple multi families in the area to compare it to. It is difficult to estimate the right price for it. The seller has lowered the price by $50,000 so far.

Thoughts? 

Welcome to the Bigger Pockets community Vicktor! I co-host a monthly real estate meetup called "Real Estate Wealth Builders Circle" with education and a social accountability connection with other local investors here in the Twin Cities. This program is designed to help each other reach wealth building goals through small group connections. I post the meetup details every month in Real Estate Classifieds --> Real Estate Events & Meetups. We typically meet the 3rd Thursday of every month, but will need to adjust for March. I would love to meet you at our meetup.

Hi @Zach Navarro! I recently had a contractor reach out to me on Bigger Pockets, I haven't had anyone use him yet, but he's been in business in Minneapolis since 2000.

It may be worth reaching out to him. His company is called Urban Construction LLC, his name is Yohance Moore. His website is ucmnllc.com and you can DM me for his phone number if you'd like.

Come hear from a fellow BiggerPockets member, Micah Haworth share how he embarked on a transformative wealth-building journey after facing job loss during the COVID-19 pandemic. Driven by an unwavering passion for strategic property investments, he turned adversity into opportunity. Over the course of three years, Micah's inspiring story unfolded, showcasing a remarkable rise from unemployment to a $5.5M real estate portfolio. He is eager to share his journey with others, emphasizing the belief that financial freedom is attainable for everyone through overcoming fear, education, and hard work.

At the age of 26, Micah's achievements include acquiring a 61-unit hotel and two apartment buildings, adding an impressive 84 units to his portfolio in just seven months. His commitment to excellence is evident in his expert underwriting skills, honed through the analysis of over 200 properties totaling $500M in real estate. Micah's story underscores the transformative power of real estate as he continues to explore, learn, and grow with a goal to add 2 hotels per year to his portfolio.

Hi Jaden, there are many other factors to consider other than managing a rental property remotely. Doing some market research on...  local economic conditions such has employment rates, GDP growth, and industry trends. It's important to analyze the current and future real estate trends, such as property values, rental rates and supply/demand dynamics. Maybe MOST important would be to understand which states are "landlord-friendly" vs. "tenant-friendly" as there are laws that affect your rights and responsibilities as a property owner. Landlord-friendly states generally have laws and regulations that are more favorable to landlords in terms of property rights, eviction processes, and other landlord-tenant matters. However, it's important to note that landlord-tenant laws can vary at the local level, so you'd want to research specific cities or regions within a state. Additionally, laws can change, so check with local authorities for the most up-to-date information. I hope this is helpful!

If you are looking to start or expand your real estate portfolio in 2024 through partnerships, you won't want to miss this. We will go into how to create a successful partnership, roles and responsibilities, and how to avoid the common pitfalls people make when creating their first partnerships.

This event is in person and we are adding a zoom link if anyone would like to join remotely. Please sign up through eventbrite so we can know to expect you in person, or add your email address to the Zoom call. https://www.eventbrite.com/e/real-estate-wealth-builders-cir... 

Hi Blake, I use RentRedi to automate collecting rent and to track maintenance requests, I already had tenants so I didn't need to use it to pre-qualify tenants. RentRedi is actually a free benefit if you are a Bigger Pockets Pro member! It's pretty slick and easy to use for landlord and tenants. Regarding the LLC, there are many pros and cons listed in many articles online. If you have already purchased the property it would involve the preparation of a deed to transformer the ownership of the property into the LLC. DM me if you'd like to get a copy of a lease agreement for the state of MN. Thanks! - Stacy

Celebrate 2023 and Set 2024 Goals!

Wealth Builders' Circle was formed in to bring like-minded people together who all have two things in common - the craving for Financial Freedom and the yearning for the education and accountability that is needed to achieve it.

Many of you made the decision in 2023 to take the first steps towards Financial Freedom, and many of you have been trekking the path for years prior - it's time to celebrate your progress!

Please join your fellow Wealth Builders' Circle members in celebrating your accomplishments, determining your 2024 goals, and mapping your journey to meet those goals!

Food and drinks will be provided! So, please signup via this eventbrite link so we know how many to expect for our catering order.

Welcome to the community Zach! I started my real estate investing journey just a couple of years ago! I see you are from Litchfield, MN. I grew up in Winthrop, MN.

My passion for real estate investing, led me to become a licensed agent here in MN. I took the leap from corporate into real estate to put myself in a position to help myself and help others on their journey to financial freedom through real estate! Let me know if you'd ever want to get together or just get on a call and talk about your journey!

Blessings and Happy Thanksgiving!

Stacy