Minneapolis Buy and Hold

[Brett Roach]

Hi everyone,

I'm a full-time student working on my PhD in biomedical sciences at the he University of Minnesota, Twin Cities. In my spare time, I'm looking to get started building a portfolio of houses to rent out for passive income. So far, I have not done any deals and have been focusing on gaining knowledge about real estate investing overall.

My long-term goal would be to acquire a big portfolio of single family homes (or even multifamily in the future) to grow my income.

I've watched many videos online about real estate investing, including wholesaling techniques, creative financing, and the BRRRR method. I've also read a handful of books as well, including David Greene's book on BRRRR investing and was really intrigued about the whole process.

Currently, I don't have enough capital to fund a whole buy/rehab myself. Therefore, I was hoping to partner with someone or obtain financing from a private lender to (I have enough capital to fund loan fees and closing costs if needed). I plan on finding deals where I can generate instant equity right off the bat (following the mantra "you make your money when you buy"), rehab, rent out, and then refinance to pay back my lender.

Does anybody have experience with rental properties in Minneapolis, and is there good potential for positive cash flow/high ROI after refinancing? Any help is appreciated.

Thanks!

Brett