All Forum Posts by: Bjorik Mutize

Originally posted by @Diogo Marques:

@Jonathan Twombly first of all, i apologize if my question looks a bit unstructured. I am dyslexic,... To be super simple:

Let's take this example: say you look at a house in an area you know very well. You also visited similar houses in similar neighborhoods. You come to the conclusion that the market price is 200k for that type of particular house in that particular type of neighborhood. If you come across a house that is 250k you immediately spot that it is out of whack of the median analysis data you have. So you do have a point of comparison.

3 Questions:

Coming back to our Hypothetical example of the multi family complex, do you:

1/compare with other 100+ similar multi family buildings and do your assessment like the example above

or

2/you use the most prevalent type of unit in the building, let's say: 1 bad, 1 bath and compare it with other similar houses even if not in an apartment complex.

...

3)The other part is regarding markets, and this is why i brought this up: Do you know that the house you looked at is overpriced if you compare Kansas with Kentucky? So you say: this house in Kentucky is much cheaper, and both places are similar.

Regarding the remaining parts of the mismanaged mom&pop and the capital structure, let's leave this out for a moment, as this part can be addressed afterwords.

I think these topics bring lots of value to investors, so i thank you in advance for taking time to address this.

I mean, would you not treat the 250k find just an outlier in your analysis. All data within market research has points outside of spread.

All variables aside i would still consider the 200K as market price and just factor in all considerable variables as stated in above posts.

Forgive me if i'm missing your point.

Hey man! I agree with the above posters. I'm not only in the Minneapolis area as well but I have actually recently graduated this may from college. I have found house hacking to be the best way to start with the FHA options, but be wary even with the low down I would take a bit up time to build up a cushion of reserves before jumping in. Minneapolis does have some of the stricter laws, so take some time to find opportunities that make it quicker to abide by code and that can sustain you without bleeding too financially for things you need to fix. Leverage the people around you on the forums, the MNREIA, and also in your own industry. Best of luck mate, lets connect!

Nice to meet you all! I as a new comer, hope to use this way of investing for another vehicle for financial wealth. Coming out of college, i knew i wanted an endeavor to help me aside from the career i was trained for(Finance). The proven longevity and wealth that can be made from real estate seems endless.

Nice to meet you! I'm fairly new to this myself. Now assuming from the basics I've seen, and what i'm focusing on are 2 unit and above multi-families to start with immediately, especially for house hacking. I usually look on those sites as well, however i do have a agent helping me with other listings with sources such as the MLS. Since you are pre-approved, have you contacted any local agents to help accelerate your search. And i'm assuming your using owner-occupied financing?

2017 Graduate jumping into the Investing world with a bachelor's in Finance and Real Estate. Nice to meet you all!

Hello all!

Please join me on my second planned meeting Saturday April 29th from 4pm to 8pm in Saint Cloud, Minnesota at Lake George. My goal is to have a casual get together where people new or tenured investors can network with each other.

Hopefully if the weather permits we can enjoy some outdoor grilling by Lake George and other outside activities, and have an opportunity to meet others around the area. Please spread the word and feel free to message me with any questions. Obviously no fee for the event and thanks in advance to those that can make it!

Great, thank you for the feedback! I really appreciate it!

Hey guys,

Just getting out of my last year of college, working my way to finding a rental close to campus. I'm trying to get a team together of a certified financial planner, insurance agent, and also a attorney on investment relations. Wondering if anyone has any recommendations around the area to work with!

Thank you guys!

David Friedman thank you. I just sat down with a private lender today discussing and she was actually stating that. Thank you for clarifying that because I would have never known. Back to number crunching and finding deals!

David Friedman I didn't know that? We are still regarding conventional and private money lenders in that consideration factor?