All Forum Posts by: Bjorik Mutize

Thanks, yea that is what I was thinking. Perhaps if I go the route of immediate cash flow though a duplex I can 1)Quickly build equity 2)Owner occupied benefits I've talked to some conventional lenders but I haven't had any luck because of little previous experience, collateral etc. But this way I can I can get around most of that. Like you guys said though, I just need to make sure my reserve fund is in order. Any specific problems you guys have ran into on finding financing for these types of deals?

Hello! I just wanted to ask a question on preference of single family or multi family investments for college rentals? I am about to graduate my senior year, and I have been looking at both that range in the 90k to 120 range for single family to multi-family duplexes. And by driving around I spotted a single family property listed for around 62k 3bd 1 bath. Now if been speaking to some lenders, and I have some confidence if I can find something at the right price maybe I can get a FHA owner occupied. I've been reading that rates for a down payment can be around 3.5%. So theoretically if I can find something at 80k and put like 2.8k down(sorry if the math is off). I think it's doable, of course expenses for rehab and costs for acquisition considered? I just wanted to ask the forum what would be best to start out with? From my research, most properties seemed to be priced right around market, however there is a few that I've caught below that I could possibly look at closely. Right now my stage is team building, I lead a local real estate organization in my school and learning how to analyze these leads a little more diligently so I can minimize my mistakes starting out. I don't have a realtor yet. But all in all I wanted to just ask some advice on the best path starting out for single to multi-family properties in a college town. Thanks!

Absolutely! Shall be a benefit event for us all @Michael Roeder

Hello all!

I've been looking for a meet up in the Minneapolis or surrounding areas, such as Saint Cloud, and couldn't find one so decided to start my own. Please join me on Saturday April 15th from 4pm to 7pm in Saint Cloud, Minnesota. My goal is to have a very free flowing meeting where people new or tenured investors can network, discuss their different strategies, share successes/challenges etc and also make this a somewhat cyclical gathering. I also plan on working with various associations, such as the local MN-Real Estate Investment Association on this.

I planned this event well enough in advance because vendors for locations are still being discussed and there are a lot of options; goal of food and good atmosphere. I will continually keep this forum updated as we get solidified on a place as we get closer to the date, which i'm planning to keep the same. And if there are any suggestions on places, use this thread to shoot out ideas. I know we are ways ahead, i just wanted to get everything starting in motion before hand and put it on the calendar. I hope to see some of you there.