All Forum Posts by: Austin Hendrickson

@Abdul Rahman 

You could always try and go for seller financing. I know that if I had a $250k house and someone offered me $100k down and wanted me to carry the rest I would probably do it as if the payments stop I could always take back the house. Very little risk to the seller with that large of a down payment.

If $50k is close to the max of what you would consider offering on the property and it's been on the market for a year then it would not hurt to try.

If you think $100k would still make sense why not start at somewhere around $80k and see if you can get some seller-financing on the deal? In essence only offer on what you are comfortable the numbers will support. You could also try asking some other investors in the area what they think it is worth.

Sent you a PM in case you are still looking

I personally would not use that as a rule for choosing a multifamily investment location. If you want stable rents with little upside it could work out but if the market turns then the slower job growth area could turn into an undesirable area. 

I would look at job and population growth as very good signs assuming the area has not appreciated too much and is not overvalued. 

Welcome! There are a lot of good meetups around the Twin Cities that are worth looking into as well.

Definitely agree with @Jordan Moorhead house hacking is the way to go for getting into real estate especially if you are considering/currently renting. The numbers do not have to be a screaming deal when house hacking considering the rent you are saving. 

This guy's track record is outstanding. An inspiration for sure!

Definitely. If someone asks you for a card and you do not have one it does not leave the most favorable/professional impression. I would agree that they are not used as much now but they are still a must have.

@Dave Toelkes Good catch you are correct there! When converting from a principal residence to a rental property the basis is the lower of the adjusted basis of the property at time of conversion or the FMV at date of conversion.

This is why I love BP! Always continually learning.