All Forum Posts by: Daniel Anshus

Message me wendy and I can connect you with the guy who does the snow removal for my apartment building

If you are making a lot of money in your day job and you are looking for something to loose money then sure jump on it. The people who lost everything in '08 were banking on appreciation. If your investment is cash flow negative it is not an investment and instead a gamble

@Rachael Beissel @John Woodrich is the best in the cities, but unfortunately I think he is filled up. But he has some good recommendations so you can reach out to him. Or I can give you his email

@Timothy Brolsma hi Timothy and welcome to BP. Being a remodeler is going to come in handy because you will be able to save a lot of money by doing your own work at first. But I do have to say that investing isn’t easy and can be quite stressful.

I personally would not put the house in an llc. First since you have a mortgage ok it technically the bank can call it due if you quit claim it, I’ve never heard it actually happen but it’s a possibility. Also your insurance will go up and if you refinance into an llc you’re more limited with banks and your interest rate will again go up.

If you want to pull money out of your house you should work with a realtor (or pay for an appraisal) to get an estimated value. Then you should see how much you could pull out and what your payment will be at. For investment properties I’m seeing 6.99 from mortgage brokers, so your rate will probably double. You will have to see if rents for your current house would cash flow with these numbers. If not it may be worth waiting to refinance until rates come back down. Since you want to start house hacking you don’t need a lot of money to start. You can get into a duplex with 5% down (can do 3.5% fha but most duplexes don’t qualify)

Since your girlfriend's property is a condo you will have to verify with the HOA that they allow shot term rentals. There are not very many that do so I would assume they probably don't allow it. You would also have to see if they allow rentals in general, which again not a lot do. If they don't allow rentals it might be worth selling and using those proceeds. Let me know if I can help out any more

@Heriberto Pumarino welcome and great questions! There will not be realtor fees but will be closing fees. A lot of times you can “roll” those fees into the loan meaning you have no out of pocket expenses.

With fha you can use it multiple times but you can only have one at a time. So you would have to refinance the fha loan into a conventional loan first. In doing so you will most likely have to refinance at 80% LTV so it might not be possible and with rates so high it might not be in your best interest to refinance. Let me know if I can help you with anything else

@Shu Matsuo Post I can give you my attorneys email. Message me and I’ll connect you, I can’t share his info on bp as they won’t allow it

@Spencer Perron I have a contact at tru stone that does and is very communicative. Message me and I’ll connect you with him

@Jake Hill message me and I can send you some good meetups to attend including the one I host.

@Michael Nahm you can definitely enforce no smoking in the property. The MN standard lease even has an area where it asks if smoking is allowed. If in the lease smoking is not allowed you can enforce it and if he does smoke in the unit, kick him out and charge him for any damage.

@Sanjeet Dighawa your heater and air conditioning unit are 2 different things. The ac unit would not have been tested in February. Why don’t you spend $50 to have an hvac professional go check the unit? Your condenser is probably out