All Forum Posts by: Bruce Runn

I'm glad to answer questions if you want to DM me to touch base

I've done 30 BRRR projects and have hosted several meet ups to walk people through all the facets. Here's a youtube video of a meet up the Millenial Real Estate investor group on facebook (which I recommend as a great meet up group) did a couple years ago on one of my projects. Hope this helps/answers questions.

I would add that even though MPLS doesn't have rent control, it has tenant rights ordinances and if you buy an investment property and raise the rent on a current tenant within the first 90 days of ownership, you "may" have to pay them relocation costs due to the increase in rent so be careful to understand MPLS statutes.  Feel free to reach out if you have questions

Raw land can be a long term hold until the market/area catches up.  I have bought covered land plays before-something that is sitting on potentially valuable land in the future but still cash flows so all my expenses are covered.  I've also bought multiple properties and split lots off, renovated and sold off the house and had the extra lot (s) as profit when I want to take it.

I'd either rent as a 4 bed/2 bath or work with the 2nd floor tenants to let them sub lease the space but have it included in their lease so you are not part to it other than charging them more but leaving meat on the bone for them to coordinate.

After the initial meeting, they are meeting once a week for 10 weeks.

I've taught a lot of new investors the financials and the places that cause analysis paralysis is plugging in something like 5-7% vacancy rates when the area is renting fast, thinking they need an 8-10% Property Management fee included when they should be self managing to learn the business, not thinking they need to do any work to increase the rents ect ect.  and still expecting 8% cash on cash return.  

You can get $ help in upgrades to insulation, windows, new furnace/boilers ect so it can be very worthwhile if those types of things are needed.  

I'm personally in a 4D program and it has a lot of benefits especially if you want to upgrade and get free $ to do it.

Minneapolis doesn't have a history of fallowing St Paul, rather St Paul tends to follow Minneapolis-