All Forum Posts by: Tom Henderson

Tyler,

Welcome to the site!

I am a 2010 graduate from Saint John's University, purchased my first rental property in 2011 once I had enough money for the downpayment. It is a duplex in Uptown, Minneapolis, where I lived for 2 years.

I am now up to 3 Duplexes and 1 Quad. IMO, you have a competitive advantage if you get going sooner than later-- building your brand as the 'property guy' with your network, who will more than likely remain in the TC will set you up with a sustainable potential tenant base after graduation.

Happy to be of counsel, feel free to ping me with any questions!

Tom

Real tenant testimonials.

That, and a connection to a wordpress blog, where you can offer up real-time information on your business IMO.

I don't think a Real Estate website is much different from that of any other business- concise, easy to read..

Tom 

I'm curious if anyone has been able to do this?

I've pulled credit lines out of my properties, but only when owner occupying them.

I'm now living in a 4plex I really like. Would prefer not to move to my next property, where I know there is equity to be leveraged. Curious how you all would handle this..

Trying to stay away from the credit card max! Thanks!

Tom

I'm currently purchasing my 4th rental property in Minneapolis. It is 2 bed-1 bath up/down. I'm curious how many of your duplex investors have built out the upper unit's attic? It would probably cost between 12-15K (lots of sweat equity after framing, electrical, plumbing work). 

Would you rather use your capital to build out and maximize your investment, or continue purchasing other investments (go horizontal with more properties), and then in the future, enhance your portfolio by building new bedrooms in basements and attics?

Thanks!

Tom

FHA 3.5% down property #1. Make a solid buy. Get appreciation. Homestead for at least 1 year. Because you are homesteading it, you can take a HELOC (home equity line of credit) Do the same thing now every year, being patient and making solid buys. You can can take HELOCs our on owner occupied props (I think) do be prepared to move a bit ;-)

FHA 3.5% down property #1. Make a solid buy. Get appreciation. Homestead for at least 1 year. Because you are homesteading it, you can take a HELOC (home equity line of credit) Do the same thing now every year, being patient and making solid buys.

Gang,

Aside from BiggerPockets (I know we all listen to this one :), are there any other podcasts to which you listen?

Just curious'

thanks!
Tom

Welcome, Joshua.

I have been listening to the podcasts for about a year now, but am just getting back into the forums. Happy to be a resource for you.

I am a Minneapolis-based investor. Do a hunting trip to Warroad for Ducks & Grouse every year... God's country :)

At the company I sell for, each new employee is welcome with a Boquet of Cookies. Each Cookie has a company value listed on it (trusted advisory, mentor, friend). It is delivered on the start date of each employee.

I've toyed with the idea of welcoming new tenants with a care package like this.

Great perspectives on the vacant building (Brie) and Wal-Mart/McDonads-- (Joe). Both those companies are real estate firms, they just happen to sell burgers or retail goods ;-)