All Forum Posts by: Alyssa Strom

Join the Millennial Investor Group and Twin Cities local investor and developer, Cody Fischer. In 2016, Cody Fischer purchased a duplex in NE Minneapolis. He was able to get approval to divide the lot and build a 6 unit apartment building behind the duplex to be completed in Spring 2022. Come hear his story and discover how he was able to successfully navigate such an incredible venture!

Join us at the end of April (with hopefully warmer weather) to learn about Yardhomes. Yardhomes is a local builder of prefab Accessory Dwelling Units (ADUs). Founders Nichol and Jamie will talk about their business and mission, answer questions, and have two model ADUs available to tour.

About YardHomes
YardHomes mission is to expand housing in Minnesota by adding a new housing option that is needed in our communities.Yardhomes can customize unit finishes and fulfill high volume for golf courses, resorts, family cabin compounds, and cluster developments. Additionally, they have a unique program that brings affordable units to low-income renters; learn more about Y-HELP®.

@Thomas Hartman Other options if Options Exterior isn't available: 

Victor: (612) 876-1303

Mint Roofing - call Christy (612) 803-0275

Join the Millennial Investor Group and BP member/Twin Cities investor @Evan Kraljic as he shares how he is utilizing a construction loan to potentially put no money down on his most recent purchase and rehab. Evan will go over the budget, scope, and lessons learned in self-managing this renovation project including complications converting an unfinished basement to livable square footage.

About Evan:
Evan works full-time as an engineer and has been investing since 2019. He currently owns 7 units spread across 3 properties in South Mpls. He bought his first investment property to househack in 2020 and spent quarantine remodeling it. He then used a HELOC on his first propety to purchase a second rental property in 2021. His interest in real estate investing like many came from the desire for financial independence and a way out of his W2 job.

@Luke Thompson A judge halted enforcement on the tenant screening guidelines last year and then the St. Paul city council repealed the ordinance so those are no longer in effect. The rent control ordinance did pass and that goes into effect on May 1st although there is currently no plan or any details from the city on how it will be implemented.

@Adam Putschoegl Wouldn't hurt to add St. Louis Park and Richfield. Still value to be found there too. 

@Jide Fajobi Congrats on the new place! Talk to Brenda O'Connell. She's been in the industry forever and has a team that can also help with small projects.

Join the Millennial Investor Group and local investor, Micah Haworth, as he shares his most recent BRRRR project. Micah purchased a single-family home that he is turning into a furnished short-term rental for traveling nurses. Micah will share why he decided on a short-term rental (STR), how he found the deal and why the numbers work.

@Danny Curtis Welcome! The REI community in the Twin Cities is a pretty great group of people. I just posted an event (1/18) on BP for an investor group I run. A lot of newer investors attend so no need to feel like a noob. We all have to start somewhere :-)

The winter market in MN is relatively slow compared to the rest of the year so don't get discouraged by the inventory you see out there. Things will pick up again near the end of February. Also, keep tabs on the rent control ordinance that passed in St. Paul and the proposals on it in Minneapolis. The majority of MF inventory will be in either city so it's good to be aware of it. Buying a property with under-market rents is one way to find a deal but you'll want to take into consideration the 3% yearly rent increase cap in St. Paul if you buy a property with existing tenants. 

Also, patience isn't necessarily a bad thing since good deals are difficult to find with current prices. I assume you want to be doing this for the foreseeable future and it's still true that you make money when you buy.

Join the Millennial Investor Group and local investor, David Hutchison, who will be sharing his current rehab project in St. Louis Park that he found through direct mail. David and his wife Vilayphone are converting a 2 bed/1 bath single-family home into a 4 bed/2 bath by finishing the basement. This BRRRR property will have close to $100k in equity when it is all finished.

About David:

David has been investing in rental properties consistently for the past 4 years but started his real estate journey back in 2012. David works full-time at a tech company and invests with his wife Vilayphone. They currently have 9 doors and looking to add 2-3 more doors in 2022 before transitioning to the payoff phase. They plan to pay off all their properties within 5-10 years to achieve what they like to call Peace of Mind. Their reason for pursuing investment properties is to lead a life of Freedom, Option, and Choice and to achieve their long-term goal of donating $100k +/year to youth organizations across the Twin Cities.