All Forum Posts by: Austin Hendrickson

If you are going to get your license for investing, then I would find a broker who charges minimal monthly fees as you will not be doing too many transactions. If you work full time I would advise finding a good online provider for your state and cruising through it. The exam and study materials really are not that hard. There also is CPE (continuing professional education) requirements that come with your license along with annual renewal fees. You also will not have the benefit of an experienced agent guiding you through some of the deals you look at. Just some things to think about but getting your license is a smart move.

Thanks for the share. It's always inspiring to see someone going full time into real estate investing! The BRRRR strategy is a smart one.

Sure I will DM you a few

There are quite a few and some of them are really good. If you look on Meetup you can find several and there is even a BiggerPockets Twin Cities meet up group.

Agree with @John Woodrich. For the most part most of my clients with foreign investment property have gotten out as it is not worth the hassle. The ones that still do have a house for family members living outside the country or the like. It's definitely doable but make sure you have strong local connections before throwing dollars into a foreign venture. Good luck!

It's for sure doable in college. The bank may want to see your parents cosign for the loan but as long as you are cashflowing it's better than losing 100% of it to rent. 

Welcome to BP man! If I had to start over (and I am still fairly young), I would of house hacked a lot sooner. I rented for four years in/after college and could have saved a decent chunk of $$ by buying a house and renting it out instead of living in an apartment. Although I am glad I have the experience of renting so I know the ups and downs and the things tenants look for. Good luck!

Welcome to BP! First of all would you want to live an hour and 15 minutes from the Twin Cities, assuming you work in the Cities? Your husband works from home so it may be doable.

I would really recommend studying the local market there because while correlated with the Twin Cities market it could be very much different. For example with the Cabela's and the large insurance employer, what happens if one of them decides to shut down or relocate? 

Getting solid rent prices and ensuring you have enough vacancy and capex expenses built in while analyzing properties is crucial. Be sure to also factor in a property manager because I am assuming you will move away from there eventually and not want to manage a long distance rental.

Getting contractors is sometimes tough if you are out in a smaller town as some of them have schedules booked up for months. I know the BP podcasts have a lot of info on investing out of state.

I live in the Twin Cities myself and the idea has intrigued me although I do not think there is enough future appreciation potential in the smaller markets for me to invest right now. If you are looking strictly cash flow and have a solid team set up in that location then it could be a great strategy!

Haha that is getting creative! Love it. A lot of investors say just let the tenants walk it is not worth the time but if everyone did that then every tenant would not care because there are no consequences. Well done. @Julie Thevenow

Welcome to the BP community! It sounds like you have a solid base of knowledge you should do just fine.