All Forum Posts by: Anna N.

Now I can see the common problems with female REI. I had to step out myself do the first deal and showed him the numbers after tax return and all I got is "you are good", then he jumped in later to help out by doing maintenance, getting RE Liscense, and looking for deals.

@Thomas Manning Thank you so much for your advices, These are great ideas. I should have started now :) wish you have a wonderful weekend.

@Alexander Lang @Bruce Runn @Jeff F.  @Conor Hesch @Steve Dye Thank you all so much for taking your time to comment. It is great to learn from all of your experiences. I figured out So much I need to educate myself before I take a big step into some thing bigger. Now I'll experience myself by the first 4-plex, will see how it work :) of course I will need all of your advices to handle with some things may happen, I don't know.  Like how to find a good source of people to fix things, rental or how to handle with "unorganized tenants".... Forms/ papers that need tenants to sign in....thanks all again.

Thanks Alex, your answers help me have more confidence to do my purchase today. We are planning rent them out. But as a second thought, should we sell our home and make a bigger loan for a bigger apartment about 8-10 units, as we have enough cash for the down payment and then live in one units? It sounds so risky for my first investment. 

Thanks Bruce Runn for your opinion. Have a nice day.

Hi everyone, first I'm glad that I am a member of BP. This is my first property investment. My husband and I are looking for 2-4plex to invest in Twin city MN. We got approval a loan about $200k, and $70k cash. The bank asking down payment 25%, and interest 4.25%. My questions are: 1/ is that mean the maximum loan we can have after we put down payment 25% or $200k including the down payment? 2/ whatever it is, if we purchase a MFH with price higher than the loan a little that affordable to put down more cash. Should we do it? 3/ thought most of house investment from 1-4plex requires less than 25% down payment (or 20% ). Is that right? And the which ranges of interest rate is good for property investment? Please any ideas, suggestions would be very appreciated. Thanks so much for your times. Anna. N from Minneapolis

Hi everyone, I'm Anna from Minneapolis, Minnesota. I'm a new member of BP. I moved to MN not too long and bought a 960sqft single family home in a great neighborhood 5 years ago, $250k for 2br 1ba, finish basement. Now i really need more rooms for my little family. I would like to remodel the whole house and add one more story. I have no idea how much will it cost for this and financing ect, and where should I start? Please any suggestions or help would be great. Thank  you very much.