All Forum Posts by: Bryon Andrews

Hey Josh, I am from the twin cities and invest in duplexes and small multifamily. You may be seeing townhomes which can be set up as what look like side-by-side duplexes, however different individuals own each side. There are lots of true duplexes for sale in the cities here. Feel free to reach out and we can discuss your strategy further!

Sounds like you are in a very solid position! I am sure @Tim Swierczek knows of a product or person who could help you. 

Josh, lots of options and depend specifically on the sellers situation. I'll send you a PM and we can connect!

Great work and great strategy! I am sure your client is now able to take those proceeds and invest into another deal or into their dream home. My wife and I used the same strategy and took the proceeds and invested into a duplex that we house hack and a 7 unit building in Western Wisconsin. 

My wife and I have househacked in Stillwater, MN for a few years now and have found that it is important to have a good relationship with the residents that you are sharing a wall or floor with. St. Paul is different with the 3% cap, but I have always been a proponent of being just under market rent to both attract more potential residents as well as retain great residents. Turnover can be very tough on your bottom line. (Househacking tip - Unless there is great soundproofing, I enjoy living in the upper unit, as people walking around above you can be loud and annoying over time!) 

I have used George Doyle out of St. Paul and he has been great. 

Congratulations! Is this a value-add or a stabilized acquisition? Keep it up!

Hey Jeffery, I have owned small multifamily (Duplexes) for 4 years and mid size mixed use buildings for the past year on the east side of the cities and Western Wisconsin. There are some differences as I am sure you are aware. If I were you, I would determine what your specific goals are and and then figure out what type of real estate helps you get there most effectively and efficiently, all while fitting your lifestyle. I would be happy to chat regarding your goals or any deals you are looking into!

Investment Info:

Large multi-family (5+ units) fix & flip investment.

Purchase price: $395,000

Mixed Use Building - Value Add - Creative Financing - Partnership

Purchase Price - $395,000
Down Payment - 5% (20% required by Lender)
Seller Carry - 15% of Down payment
Partnership - 50/50 money partner

How did you find this deal and how did you negotiate it?

Broker

How did you finance this deal?

Creative Financing
Down Payment - 5% (20% required by Lender)
Seller Carry - 15% of Down payment
Partnership - 50/50 money partner

How did you add value to the deal?

Raise NOI
Update Units, Raise Rents, Lower Expenses

Investment Info:

Large multi-family (5+ units) fix & flip investment.

Purchase price: $345,000
Cash invested: $70,000

7 Unit Mixed Use Building, Value-Add with Creative Financing.

Purchase Price - $345,000
Down Payment - 5% (20% required by lender)
Seller Carry - 15% of required down payment

$40,000 in rehab and differed maintenance.

How did you find this deal and how did you negotiate it?

Worked with a broker.

How did you finance this deal?

Creative Financing
20% down payment
5% down from buyer
15% seller carry (2nd Mortgage)

How did you add value to the deal?

Raise NOI by updating units, raising rents and lowering expenses.