All Forum Posts by: Derek Dame

I'm not sure if this will work or not, but what about buying it through an LLC? Typically, lenders don't look that hard into the LLCs. I haven't financed a home in quite some time so I'm not entirely sure if that would work or not.

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Bismarck, North Dakota

Congratulations, Paul. I'm also local to the Bis/Man area if you ever need any help!

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San Jose, California

Quote from @James W.:

Quote from @Gage Klein:

Quote from @James W.:

Quote from @Gage Klein:

Hi Andy,

I can understand the pains of investing in areas where it seems nearly impossible to find cashflowing rentals or even profitable flips! I currently live in Sioux Falls, SD and I help out of state investors on a regular basis. So, I hear this very often!

My tip would be to select any area that meets your investment needs. For example, Sioux falls has a mix of cash flow and mild appreciation. Since we're in the midwest, the cash flow tends to be strong. We are also the largest city in South Dakota so we are attracting a ton out-of-state people moving here to avoid all the politics.

Once you have a geographical area selected, then I'd reach out to local property managers. They usually have the most extensive connections and can help you assemble the other pieces to your team.

@Gage Klein Very insightful comment, whats the driver for people moving to LIVE in Sioux Falls?

Sioux Falls is one of the very few cities in South Dakota where you can find a large demographic of 'wealthy' people. So, the area is nice/well kept. Also, we have a massive market for job opportunities here. Healthcare, banking, farming, and manufacturing are our big industries. Lastly, we recently had a very large capital company do a $600M development in our downtown this year and Amazon moved into town last year.

How interesting these look like excellent conditions for both in state and OOS investors! What type of housing is most attractive to these new residents?

I'd also give a shout out to Sioux Falls. It's a great market. Growth has been solid the last decade. It has become a little "pricey" for locals with the out of state money. There are many opportunities that get overlooked in the "flyover states". GLTU. Hope you find some decent investments in this crazy economy we live in!

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Cleveland, Ohio

Be quick to fire. If they aren't doing a good job now, they likely won't anytime soon. Look for references on any other local companies. Small towns are hard. There aren't as many companies to choose from. Self management is always an option, but that's something you need to decide if you want to do. No one will take care of the property as good as you would.

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Just a reminder to everyone that we are having this meetup tonight at Buffalo Wings and Rings in Bismarck starting at 6! Hope you can all make it!

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Just a reminder to everyone that we are having this meetup tonight at Buffalo Wings and Rings in Bismarck starting at 6! Hope you can all make it!

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Hey everyone. It sounds like there are quite a few conflicts for the end of this week for a meetup. I think we will push it back to Wednesday, June 9th in Bismarck. We will provide a time and location when the date approaches and we know how many will be in attendance. See you all soon!

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I'm tied up this week and weekend. I should be fairly flexible the next couple weeks if that would work for anyone. My vote is for Bismarck!

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@Otto Kinn Thanks for getting this set up and arranged. Looking forward to having everyone from Minot, Bismarck and surrounding areas!

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@Otto Kinn That day won't actually work for me. I could do the following Wednesday March 24th if that would work for everyone?

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All Forum Posts by: Derek Dame

Derek Dame has started 3 posts and replied 98 times.

Post: Looking for creative ideas

Post: New investor doing out-of-state properties

Post: Wanting to invest out of state as it is cheaper and more value

Post: Need property management for North Dakota

Post: Central North Dakota May Meet Up Maybe??

Post: Super Fantastic Bismarck Meetup

Post: Central North Dakota May Meet Up Maybe??

Post: Central North Dakota May Meet Up Maybe??

Post: West/Central ND Investor Meetup

Post: 2021 North Dakota RE Market Forecast