All Forum Posts by: Timothy W Hanson

I just list on Zillow, and it works really well. I've also had good activity on rental listings in the winter, but only in Minnesota, I think that's a Minnesota thing 

It's for sure happening all around the USA. Insurance is one of the driving sources of the CPI lately. There are very few insurance companies that have had a positive combined ratio for years now (claim costs / premiums earned). Liberty Mutual, Geico, Travelers, they have have been paying out more than they have been bringing in for a few years now and relying on prior years' profits while trying to find the right price for premiums. The cost of repairing anything is up, even before supply chain issues and before 2020, they operated at a loss because of repair costs due to so much technology being implemented into so many items these days.    

As others have suggested, every year we need to shop our insurance policies. 

"Allstate just hiked car insurance premiums by 40% in Georgia; other providers want 30% hikes in California, and premiums nationwide were up 17% year-on-year as of May, according to The Wall Street Journal."

In Wisconsin, it's pretty easy. As the other's said, just check the state's website for the process (Usually paperwork to be mailed)

Yes, it would be 20% either way you think of it, but would be fewer transactions. There's less competition in commercial spaces right now, less offers coming in right now, so if you find a tired owner who will accept your offer and then execute a turn-around plan, you will be able to build a lot of equity and that's scaling fast. It's all about where you find the Value Add! 

For the fastest possible scaling, it could be worth looking into flipping commercial properties (instead of flipping SFH's). I feel they are easier to control value on because they are sold based on NOI whether it goes up and down. You can control that

Feel free to DM me any questions, or continue this thread, as you think of questions / need another pair of eyes on the information sent to you. 

I'm from Minnesota, but my first deal was in Wisconsin. I purchased a 4plex with an FHA loan. During my purchase I reviewed the current leases on each unit, it cash flowed about $500 a month at the time after all expenses (Mortgage, Insurance, Property Tax, Lawn Care). The advice I would give here is be sure to look at rental comparisons - I just use Apartments.com to do this. Zoom in on the neighborhood and find out where your property should rent by comparing it to rentals nearby. This will give you confidence that you can cashflow and make money

I spoke to a 21st CASH sales representative this past summer (Summer 2022). I have 30+ lots to fill and was interested in this program. He told me that right now they are holding very firm on the 50 lot minimum requirement. He said they will sometimes vary from this requirement and I could check back later. Just sharing my recent experience

I own two parks right now, and they are great investments if done correctly. My simple suggestion is to review Profit and Loss statements closely. Then, look at location on Zillow/Redfin (If the location has $100k-$150k homes, the need for affordable housing is not that great in that area, and the park is not fulfilling a need). This makes it difficult to bring in $60k homes and have someone buy it / and then pay lot rent. If they can (For double that) actually own a standard home. I owe almost all of my wealth to buying these carefully. 

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $390,000

I purchased this single family house in the Twin Cities (Minneapolis-St. Paul) to rent out and also hold onto because I really like the neighborhood. The mortgage is $1,600, and I have rented the home for $2,400 a month. I believe I could have rented it for more, but I am happy with the renter. Not a huge cash flow machine, it makes $500/month after setting aside money for property tax and insurance.

How did you find this deal and how did you negotiate it?

Found on Zillow.com, it was an 'Early Listing' and needed to compete with others offers.

How did you finance this deal?

Conventional Loan