All Forum Posts by: Bruce Runn

@Russell Brazil- When I think of DC, only one thing comes to mind- TOPA

@Francis A.

I think you confuse the thought process John described. We aren't talking about flippers who buy, put lipstick on the property to sell but rather individuals that are holding a SFH versus a duplex a better investment. I can tell you after a lot of year of owning different kinds of properties that John is exactly correct in MPLS. A multi family property will cash flow much better and if an individual wants to house hack, buying a duplex is a much, much, much, lower cost proposition versus a SFH.

@Paul Begich

Congratulations on a creative solution.  

We add bedrooms or a unit to every property we buy- As a GC, it’s always worth it

You need to realize there is a difference between what you think/know and what other people think/know especially if you are newer at this.  I find things I can do to a property so often it's undervalued.  Also, I think nothing of having $10,000-$15,000 in earnest money-why do I care if I'm buying it.  Some things just set you apart.  I decide what I think the value is to me, not what the asking price is.  I've offered well above asking price before when the property is really worth it and I can make some type of change that increases the cash flow in a big way.

@Seth Falcon-I'd just post here what you are looking for and where to see if anyone has a lead/something to sell.  

@Joe Splitrock

I know you had the best intentions, I just find sometimes newbies take what some of us say, literally and don’t check

@Roy Nash

That doesn't cut it.  You'd have to apply based on a hardship and have to prove it.   Just advising there are a lot of places you just can't say that and experts should be careful with advice.  I can speak to that rent would be substantially in a MPLS suburb would be way above the section 8 limits and in all likelyhood they could qualify for it.  

@Joe Splitrock

Joe, I'd be careful about advising people to put "no section 8" as you can't do that everywhere.   Minneapolis has an ordinance about disqualifying section 8 and you could be fined/charged.

@Aaron Desmond

I'd start with reading these to get acquainted with the process.

Adding an ADU
wcmsp-224047.pdf (minneapolismn.gov)

Converting a duplex to a triplex

wcmsp-223283.pdf (minneapolismn.gov)

If you'd like a conversation, you can PM me.