All Forum Posts by: Daniel Anshus

@Mike Paisley I am an agent in Minneapolis. I would repeat what everybody else has said about house hacking and tracking your income and expenses, and planning your goals out. Please message me and we can talk about the opportunities I have.

@Noah Chappell great idea, but you're not going to find a duplex in the twin cities for under 200,000. There is one on the market currently in Saint Paul for under 200k but it needs A LOT of work. I like the idea but would recommend looking for one or two larger investments that have a higher COC. Anything around that price is going to need work so I would want more reserves for repairs.

@Puja Shah If you are looking to maximize your cash flow you should definitely look to sell it. You can get a lot better returns with multifamily or single family properties. If you do not live in it I would suggest looking into a 1031 exchange to help defer capital gains taxes. If you would like a more detailed answer and a contact for a 1031 exchange intermediary feel free to message me as I am a licensed realtor and investor in the Twin Cities.

I agree with Tim ask John. But from my understanding you are correct. But not giving tax advice and I would consult with John.

@Kalvin Seidl Welcome to the beautiful world of real estate investing!! You are very fortunate to be based in the Twin Cities, as we have one of the strongest real estate markets in the whole country! We have been in the top 5 for rent paid during the pandemic. Feel free to message me and we can chat about the  market and how to get you started in real estate!!

I would say #1 your rent is too high and #2 you should post on pages other than Zillow. Zillow has notoriously (from what I've heard) been bad at exposure to tenants. And their info for comps are terrible. Feel free to dm me and we can talk about some local places you could post

@Tim Swierczek yes that is a better way to put it. I hear people attempting the BRRR but they cant rent the property for what their new mortgage is.

@Bruce Runn I know a few investors, and some well known ones that only require $100 a door. 

@Tim Swierczek I say this because some people refi a property and the piti drops their cash flow to less than $100 a door. They might not have a high ltv but they are  over leveraged in  the sense they can't adequately safe up reserves and make payments on these properties. There are investors that make hardly any cashflow but have multiple properties and are now unable to make mortgage payments because they are strung out over multiple properties.

@Chafic El Amatoury I know which deal you are talking about for the second deal. I believe it just came back on the market during the inspection so that raises some red flags for me. Also if It is the same deal I am familiar with it is in North Minneapolis, which a lot of people have a hard time with rentals in some of those neighborhoods. 

Welcome to BP @Thomas Piersiak! this is the best place to learn, network and ask real estate investing questions. As everybody has stated above it is important to get your financing set up ahead of time so you know not only what you can afford but what loan programs your eligible for. I strongly believe house hacking is the best way to get started because rents, are not only a waste of money, but are so dang high in the metro. Just think of what you can do by saving 800-12,000 a year by not paying rent!