Newbie in Duluth, MN

[Jeff Rogers]

Hello! Its time I sent out an introduction.  I'm diving in to Real Estate investing finally! Got turned on to RE investing a long time ago after watching some Carleton Sheets infomercials, I knew using real estate was an exciting way to invest money.  Fast forward a few years, er...decades, and i'm in a position to get going.  I happened to find Bigger Pockets a few months ago while googling about Mr. Sheets.

I'm located in Duluth, MN and interested in buy-and-hold rentals, as well as BRRRR properties. I'm reading, learning, listening to podcasts, learning the market and started networking. My initial goal is to earn $100,000 per year in rental income through single family and multi-family homes, especially early on. Commercial property sounds intriguing to me, so this is possible further down the road. Right now I'm also working on building my team, CPA, attorney, investor realtor, etc and networking. I plan to find multiple investment opportunities in 2021.

[Matt J.]

Welcome Jeff! I invest in Duluth as well. I live down in Hugo, near White Bear Lake and utilize Heirloom Property Management to manage my properties for me. They do a great job. I can DM you some recommendations around your team you're looking to build; BP doesn't seem to like when you post referrals in the forums. 

BiggerPockets has been a huge asset for me. Go for the pro version, it's totally worth it. Have you thought about which areas of Duluth you want to target? Lincoln Park, Central Hillside, Gary/New Duluth, Morgan Park are all cheap to get into, but not without their headaches. College rentals are what I'm focusing on more after starting in Lincoln Park/Hillside. But single family in nice neighborhoods like Lakeside or Chester Park could be solid too. It's important to pick a strategy, neighborhood, and property type, develop criteria around that and stay focused on that until you get a few deals. 

Let me know if you want to connect and talk Duluth. I went to college there and was in the 148th Fighter Wing, so all told spent around 6 years total and have a pretty solid network up there.