All Forum Posts by: Bryon Andrews

@Jake Eidson I think it is great that you want to plan this out. I think planning out a 5 year plan is going to help keep you motivated and moving forward. However, you will need to adapt and adjust the plan as you grow and learn more. My wife and I started back in 2019 and our goals now are very different than they were 5 years ago. However, we are much farther than we ever would have been if we didn't just get started! My biggest piece of advice for you is to get started. Buy a small multifamily property and live in one unit. While living there and renting out the other units you will learn more than you can read in any book or absorb from any podcast. 

House hacking would be great! When you travel, you can then rent out your unit as a furnished rental. This can provide you with the benefits of investing as well as the flexibility that you are looking for. 

@Joshua Beach I am definitely not an expert in lot splits, but 3.5 years does seem a bit long! I hope it all goes smooth and you were able to learn for the next one!

 Hey Norine, I think @Andrew Steffens did a pretty good job explaining it. If you are in St. Paul and have easy access to hospitals it would definitely be worth doing Furnished Finder. Most Mid-Term/Furnished rental owners that I know do Airbnb.

Hey @Willie Cager III What specific commercial assets are you looking to connect about? I own a couple of mixed use buildings in Western Wisconsin and would be happy to chat about my experience. 

Hi @Katie Henson Welcome to the BP community! I highly recommend attending a few local meetups and get to know other local investors. Best of luck!

@Brian Floyd Sounds like you have some decent experience on the flipping side of things. The one thing that I have found when it comes to renovating multifamily buildings is that you need to make sure you know where the money is coming from. A house hacker with a  W-2 income can often times float some rehab costs on a duplex through cashflow or supplement some with their income. As soon as you bump up to medium sized multifamily, costs can add up quick. Simply because there are more units and something like a basic roof replacement can be significantly more expensive as compared to a duplex. I highly recommend knowing what your rehab cost is going to be, add a reserve amount and make sure you know where those funds are coming from. Private money is a great tool to help with this. Best of luck!

Hi @Tammy Garst Welcome to BP! THere are many real estate investing meetups that are held around the metro. I recommend attending a few of those to meet others who are doing what you want to be doing!

@Brett Riemensnider I have always used A-1 Rolloff in Minneapolis and St Paul and have had a great experience.

I think @Marcus Auerbach made a great point. You are worried about the wrong things. 

You can only learn so much by reading books and listening to podcasts. You will learn so much more by buying your first rental property and gaining experience. Do not worry about hitting a "homerun" on your first deal. If you can consistently make base hits, you will be just fine.