All Forum Posts by: Brett Roach

@Andrew Postell

Thanks!

@Andrew Postell

Thanks for the advice, Andrew.

I'm not sure you would know the answer to this question, but seeing how you are in Texas which is a non-disclosure state, do you know how investors go about finding the ARV on subject properties since recent sales prices are not available?

The reason I ask is because I'm from Texas and may be moving back after I finish my PhD in 3-4 years.

Thanks!

@Daniel Hansen

Hi Daniel. I have about $30k I could invest outside my emergency funds.

Yeah, going in with a partner to give up equity sounds like a great idea. Do you have any experience doing that? Have you gotten any deals done or are you just focused on learning right now?

For the Twin Cities area, what are the best investor-friendly lenders for refinancing or obtaining a conventional loan for single family homes for renting out?

Also, what are some investor-friendly title companies?

Thanks!

Brett

Hi everyone,

I'm a full-time student working on my PhD in biomedical sciences at the he University of Minnesota, Twin Cities. In my spare time, I'm looking to get started building a portfolio of houses to rent out for passive income. So far, I have not done any deals and have been focusing on gaining knowledge about real estate investing overall.

My long-term goal would be to acquire a big portfolio of single family homes (or even multifamily in the future) to grow my income.

I've watched many videos online about real estate investing, including wholesaling techniques, creative financing, and the BRRRR method. I've also read a handful of books as well, including David Greene's book on BRRRR investing and was really intrigued about the whole process.

Currently, I don't have enough capital to fund a whole buy/rehab myself. Therefore, I was hoping to partner with someone or obtain financing from a private lender to (I have enough capital to fund loan fees and closing costs if needed). I plan on finding deals where I can generate instant equity right off the bat (following the mantra "you make your money when you buy"), rehab, rent out, and then refinance to pay back my lender.

Does anybody have experience with rental properties in Minneapolis, and is there good potential for positive cash flow/high ROI after refinancing? Any help is appreciated.

Thanks!

Brett

@Alyssa Strom

Thank you for all the information. I have a couple questions for you if you don't mind: 

I've heard about bird-watching for experienced investors. How would you recommend I find/connect with experienced investors? 

I would definitely be interested in investor-friendly title companies if you don't mind giving me a list. 

Finally, I know you said that pre-foreclosures are competitive given the easy access but I was wondering if you could explain how I would get the pre-foreclosures list. I live in Minneapolis which resides in the 4th judicial district of Minnesota, so I figured I'd look online through the Government Plaza Center but couldn't find a list. Do you have to go in person and ask a clerk for a list? 

Thanks!

@Alyssa Strom, thank you for all the information. I have a couple questions for you if you don't mind: 

I've heard about bird-watching for experienced investors. How would you recommend I find/connect with experienced investors? 

I would definitely be interested in investor-friendly title companies if you don't mind giving me a list. 

Finally, I know you said that pre-foreclosures are competitive given the easy access but I was wondering if you could explain how I would get the pre-foreclosures list. I live in Minneapolis which resides in the 4th judicial district of Minnesota, so I figured I'd look online through the Government Plaza Center but couldn't find a list. Do you have to go in person and ask a clerk for a list? 

Thank you all for the replies! I have been thinking about house hacking and have been in contact with an agent about potentially buying a house and renting out a couple rooms while I live in the remaining room. 

Alyssa, thank you for all the information. I have a couple questions for you if you don't mind: 

I've heard about bird-watching for experienced investors. How would you recommend I find/connect with experienced investors? 

I would definitely be interested in investor-friendly title companies if you don't mind giving me a list. 

Finally, I know you said that pre-foreclosures are competitive given the easy access but I was wondering if you could explain how I would get the pre-foreclosures list. I live in Minneapolis which resides in the 4th judicial district of Minnesota, so I figured I'd look online through the Government Plaza Center but couldn't find a list. Do you have to go in person and ask a clerk for a list? 

Thank you! 

Hi everyone. I'm a new real estate investor and I've spent the past 3 months reading up on real estate and how to conduct wholesale deals. I live in Minneapolis, MN and am looking for advice on how to get started (how to find preforeclosure listings, how to read markets, who to contact to write up contracts, what title companies you use who are investor friendly, etc). I'm in the middle of obtaining my PhD at the University of Minnesota, Twin Cities (biomedical sciences) and am looking to to start investing part-time and would appreciate any advice. Thank you