All Forum Posts by: Armin Nazarinia

@Asher Knudson- I would go asphalt. I bought a rental with a metal roof already installed less than 10 years ago, it looks like due to weather in Rochester, the seams have popped open and the previous owner used Caulk to seal them. Now I've had a couple of contractors come out and they said they can either re-caulk for a temporary fix but recommend a new roof. The company that installed the roof went out of business so there is no warranty to cover the repair. I know this isn't typical and if I were doing it myself would've picked a company that's been in business for a while, but something to think about.

Good of it is I got a discount on homeowners insurance for having a metal roof(very small). I would say don't waste the money on the metal roof. If it gets damaged and the warranty doesn't cover it or something similar to me happens you won't really get to realize the savings. So at the end of the day it depends on if you're keeping or selling it but more than likely the asphalt makes sense.

@Sara Ring- Welcome to BP, I've learned a ton from the podcasts. I think there is one person who actually lived in Japan and invest in Minnesota I would recommend following and potentially reaching out to. @Shu Matsuo Post.

@Ross Melby- I'm in a similar situation but this post helps me realize I'm also emotionally attached. I'm planning on selling once I find a property to 1031 into that cash flows more. I would recommend the same. This way you initial contributions stays the same but now instead of making $400 a month you can find a property where you can cash flow much more since you'll be essentially putting in $98K down on it. That's probably better than selling and having to pay the taxes on the profit then finding something to reinvest in. Best of luck!

@Paul Anderson- I think this really comes down to what your goals are and how to get there. Having the plan for where you want to be in 5-10 years and breaking that down into what  you need to do to get there will help inform your decision. I agree with @Greg Scott and @Tim Swierczek. It makes more sense to use some of the equity you have  leverage it to grow your portfolio the how is the harder part to decide. What about selling the home to the parents for what it appraises for and using that equity to get into a multi-family?

At the end of the day I think you just need to set the path where you want to go and be and find out the way to get there. I'm in Saint Paul but work in Minneapolis so feel free to reach out if you want to grab coffee.

@John Berglund Welcome to BP!I'm in Saint Paul! There are some great meetups you should head to for networking and/or education.

@Krissie Poplin- That's awesome. Do you manage the property yourselves or have a property manager?

RSVPing for my wife who will be attending.

@Jordan Moorhead- I know you had talked about something (at one of your meetups) you were trying out a few months back on one of your rentals. What has your experience been?

Welcome to BP @Jonathan Treichler! I agree if there is a will there is a way I had to refinance my car for my first house to get my DTI down, which was right after I was told I wouldn't qualify. The hardest part is you don't have any work history and no stable income I think it is going to be a challenge. This doesn't mean it's impossible, but it does mean you either need to wait or partner with some people as you said. Best of luck!

@Vang Lor- Welcome to BP excited to hear about your growth story in the coming years. BP is a great community with amazing people.