All Forum Posts by: Suzanne Griffiths

Hi @Account Closed I would use the asking price as a starting point, not as a hard line.  When we are analyzing properties either residential or commercial (5 doors or more) we for the most part ignore the asking price and back into it based on the current market, expenses, repairs etc and then come up with a number that we are comfortable asking. 

I recently listened to a good book on Audible that I think will really help you.  It's the ABC's of Real Estate Investing by Ken McElroy.  It focuses on multi family and commercial property analysis.  I think it will really help shed some light on your questions. 

HI @Heidi Eitreim welcome to BP from another Minnesotan. This is a great place to start gathering knowledge. I highly encourage you to listen t the podcasts to start narrowing down the what and how of REI you want to jump into. There are so many niche's and strategies it can be overwhelming if you don't narrow the focus.

We are putting together 2nd position funding for a project. We have 3 people that are willing to lend a portion. My understanding is that the cleanest way to do this is create an LLC where each person's ownership percentage is based on the percentage of the whole investment they put in. The LLC is then the name on the mortgage deed in 2nd position. One person has asked if this would cause the interest payment to then be classified as business income versus a personal investment return.

Hi Darron Coleman welcome to the Twin Cities and MN. We are originally from WA state and here in MN working and investing.

Raeshelle Cooke you've listed a lot of reasons why you can't do it. But besides being wealthy what is your "why"? Without a really good motivating why, these doubts and excuses will continue getting in your way. Reaching out and talking to people and networking is one of the hardest things for me, but it has to be done in order to identify and build relationships that can help you further your business. Take a deep breath and go for it. It's going to suck the first few times, but it WILL get easier.

Hi @Account Closed thanks for checking.  This property is not available anymore. 

We do have a property in Edina that we are wholesaling, if you are interested in more details let me know.

When you find a natural spring under where your foundations are supposed to go, and the inspector says "it's ok, we're used to that around here", concrete guys keep on keeping on and we have footings and foundation walls in Chanhassen, MN!

Thanks @Bryan Clapper you are right about Hugo, the par that we are in is in the Mahtomedi school district and there are very few properties and new homes available due to the parcel size restrictions.  The home is going to be pretty much new from top 

to bottom so we think the product that we have to offer will be favorable.  Here are a couple progress pics, before is barney purple, ignore the glowing pink from the anti-fracture membrane:

@John Woodrich great minds think alike ;)

Thanks @John Woodrich