What to do in the Twin Cities?

[Seth Falcon]

Hello Everyone! I'm just starting out trying to make a move into the real estate investing world. I currently rent so I'm thinking house hacking is the way to go. I have a realtor and have her on the hunt for any deals on the market. I'm just wondering if anyone has actually employed some of the tactics Brandon talks about with off market finds (cold calling or mailing), how you went about it, and how they turned out?

Also, is house hacking the way to go or am I missing another strategy that may be good for a newbie?

Any advice is much appreciated!

[Corey Hawkinson]

@Seth Falcon Welcome from another twin city’s investor. House hacking is the best way to get started, but finding a good place at a good price can certainly be difficult. Keep networking. There are several quality groups in the area to join. I’m sure more events will be starting in the near future. Message me for a couple of those groups if you’re interested. We’re not supposed to comment about them here so that’s why I say to message me. Don’t worry, I have nothing to sell you and I’m not a leader of any group.

As far as mailings and texting, I agree with Dan. All of us with multi family properties are receiving these texts with “incredible” all cash offers of $215k for a 4-plex that rents for $6,800 per month in the metro. The response rate from those campaigns has to be pretty low because those are the types of offers we expect. That said, I have never done a campaign myself. Maybe you can prove me wrong. If anyone actually gets metro area properties (not North Minneapolis) under contract at the 3% rule when most of us struggle to find 1% properties then I will for sure join in the mailing/texting campaign strategy.