All Forum Posts by: Benjamin Barnard

@Michael Dumler I think it's important for new investors like myself to look into the market and property details as much as possible before plugging in just any numbers. Thanks for the advice, I appreciate you taking the time to answer.

@David Greathouse Thanks for the advice!

When considering the risks of real estate investing it's important to be conservative about your analysis numbers. That being said if you're too conservative, then most "good deals" will become unappealing. Therefore it's good to be between conservative and liberal, but how much so?

These are the thoughts I am considering when punching in the numbers for these expenses on a property (Repairs & Maintenance, Vacancy, Capital Expenditures).

Of course it depends on the property, but if anyone has advice on the percentages they commonly use for these expenses, that would be greatly appreciated!

@Tara Eggenspiller Have you considered negotiating with the current owner of a property to do sellers financing and look to partner with an investor?

@Amber Gonion Thanks for the great insight, I am now looking at things with a different perspective.

@James Hamling, Thanks for the clarification. I appreciate it!

For anyone with experience investing in Minnesota. I've been doing some research into the Landlord/Tenant laws, and admittedly I am a bit confused as to whether Minnesota is a Landlord friendly state or if it's a Tenant friendly state. I've heard from different resources, some say Landlord, and some say Tenant. So which is it? Appreciate the help!

Benjamin Barnard

Thanks Jacob, do you have any tips for building that quick eval. ability?

Wow, just did my first couple property analysis, and boy was I surprised. When I first looked at those deals they appeared to be excellent with a lot of potential, but what I just learned is that you can't just assume a property is a good deal at first glance (at least not for a newcomer like myself). They both were negative cashflow, not by a lot, but still they weren't good deals like I initially thought.

Also, I can see how people can get stuck in analysis paralysis. It's just a ton of fun to play with the numbers, plus the tools that BiggerPockets offers are amazing. Already addicted!

When evaluating a market for potential multifamily deals, would you consider it a good or bad thing when new apartment buildings are being built near and around the property and why?

Thanks,

Benjamin Barnard