Twin Cities, MN Opportunities

[Shawn P Kontrec]

Hey BiggerPockets!

My name is Shawn and I cannot wait to start buying rentals. BP has provided a ton of great resources and what I would call a good distraction from pointless college classes while I was finishing up my degree last year. Something I have been impressed with, is that the REI community is such a solidarity-focused environment even though folks are all focused on maximizing their own returns. I think that's super amazing and generous of everyone!

I hope to buy a small multifamily property and house hack within the next two years (hopefully on the sooner side) using an FHA loan. My question is geared towards current younger house hackers - are you finding 10-12% CoC ROI; 7-8% cap rate duplexes and triplexes in B neighborhoods? If so, would you mind sharing how you found such deals in today's Twin Cities hot market and in what sub-markets? Did you use some creative financing, FHA debt or standard mortgage debt service? I'll be honest, most duplexes I have looked at and ran the numbers on have done terribly, but then again I have only ran numbers on MLS-listed places.

Last question: are there still newbie REI meetups going on or are they virtual now? Would you mind informing me on some of those going on?

Thank you ever so much!

Shawn