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Updated over 3 years ago on . Most recent reply

User Stats

4
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3
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Luke Eckert
  • New to Real Estate
  • Apple Valley, MN
3
Votes |
4
Posts

New Investor Plan Minnesota

Luke Eckert
  • New to Real Estate
  • Apple Valley, MN
Posted

Hey all! I'm just starting out located in the twin cities area (MN). I closed on my two bed one bath condo in April of this year and didn't stumble across BP until shortly after. I really like the idea of building a multifamily rental portfolio and I'm realizing I really should have tried for a duplex for my first property instead. Regardless, a duplex is what I'm looking at next and the way I see it I have two options:

1. Sell the condo, take the capital gains hit, and move into the duplex.

2. Wait until April of 2023, keep the condo as a rental, and house-hack into a duplex.

I'm leaning towards option (1), but I would appreciate any advice!

Most Popular Reply

User Stats

742
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924
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Bruce Runn
  • Investor
  • Minneapolis, MN
924
Votes |
742
Posts
Bruce Runn
  • Investor
  • Minneapolis, MN
Replied

I'll continue to say, there are still deals out there to be had. You just have to work harder/find ways to create the opportunity to increase cash flow. I know someone that just closed on an off market triplex that has a great cash flow. I bought a 4 plex 2 months ago off the MLS that we did a meet up at that has an amazing cash flow off. You just have to be ready when the opportunity comes up and go into a properties to find the upside.

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