All Forum Posts by: Chloe Bowman

I am wondering if you all have a price range in which you try to target for buying investment properties. Would you say there is a dollar amount that you try stay under for each property? I know this is highly dependent on the area in which you are looking but I am just wondering if you have a "magic number"?

I live in Rochester and will keep an eye out for you. However, there aren't a lot of 4plexes in town, mostly duplexes or larger homes that have been made into multi family homes. You can contact me if you want any help on the ground here.

Anyone ever purchase or even bid on properties on Auction.com? If they don't sell on there to do they go to MLS? Do all properties have a reserve? What tools do you use to determine potential property value with repairs?

Thank you everyone for these awesome tips! would you all agree that it's important to obtain a real estate license?

Hello everybody! My husband and I are just getting our toes wet with our first investment property...which happens to be grandma's house! Grandma passed away a couple months ago and we are able to purchase the home probably 30% below market value. It needs some remodeling but it completely livable, besides the wallpaper ;) The home is in a quiet neighborhood on a corner lot across from an elementary school.

We have gone back and forth on whether or not we should buy, fix, and hold to rent or flip for a quick profit. We live in Rochester, MN home of the Mayo Clinic where every spring hundreds of new doctors show up looking for rental properties while they complete their residencies. Mayo is about to explode in the next 5 years, our city expected to double its population, and we are hoping to capitalize on this, of course!

I would like to take a LOC on our home (which is paid for) and purchase grandma's, make the updates, and then refinance with a long term mortgage...what are your thoughts on this? We have never had a mortgage so this is ALL new to us. Ideally, over time, I'd like to purchase enough properties to generate a reliable income as well as secure some retirement/vacation home $$$.

Looking for tips and tricks here, friends. Anything you wish you had known? People you wish you had spoken to? Resources you wish you had when you started?