All Forum Posts by: Alley Carlson

@Andrew Postell thank you Andrew!

When using an FHA loan to buy an SFH that requires owner occupies the rental for the first year, does anyone know if you can instead rent to an immediate family member for the first year?

@Macintyre Braun thank you!

Hello, curious if there's any way around the rule that when using an FHA loan the owner must occupy the property for at least 1 year?

@Corey Hawkinson thanks Corey I appreciate the feedback! I see what you mean about different areas of the metro working at different numbers. I’m most interested in duplex/triplex units in northeast, or northern suburbs of the Twin Cities, but also not counting out Rochester and Duluth. I’ll definitely take your advice into consideration as I run the numbers and evaluate the different areas

I’m new to real estate investing and just in the information gathering stage, I’ve been reading BP Rental Property investing and am reading up on “the 2% rule” or making sure that a properties monthly rental income is equal to 2% of the purchase price or greater.

I understand that this can be a different number for all markets, so I’m curious if there is a number you use in the Twin Cities area? What number has proven to cash flow well?