All Forum Posts by: Eli Sunderland

Wow, thanks!  Lots of awesome info there.  

Any more general thoughts on the market in Minneapolis as a whole, @Marc Jolicoeur?  My worries reside in whether or not we are in the top of the cycle right now.  Like you said, I don't want to buy now, then be underwater in 3 years.  Although, my counter to that question would be this:  if I am planning on renting it for several years, do the market cycles matter?  Will rent, and thus cashflow, stay constant even if the market dips?  If so, I could just wait out dips in the market cycle and sell when the market picks up again, assuming I want to sell.  

Hello everyone!

I've got a fairly simple question for all of you. What do you all do with your savings or reserves? For example, if I buy a property and know that I need to keep $X in reserves for vacancy/CapEx/repairs/etc, do you guys put it into separate savings accounts? When someone's portfolio grows, I'm sure this number can get fairly large, so it doesn't seem like people would want all of that money just sitting in their bank account, not growing with interest.

My next question, which is very similar to the last is, while saving up for a down payment for your next property, do you like to invest income into anything to expedite the process? 

Thanks!

Hey guys, I'm currently looking for my first property, most likely a SFH in the NW minneapolis suburbs. I plan on house-hacking it, renting it to some buddies from college. My question to all of you is: what are your general thoughts on the housing market in Minneapolis area? Would you say the Minneapolis market is fairly hot right now? Having just started, I don't really have a good reference point to compare today's prices to.

Also, For those of you already investing in this market, what is a general "rule of thumb" I should be looking for in my properties? I know about the 2% rule, but I don't really see many properties that fulfill that rule.  What percent do you all look for when analyzing deals in the minneapolis area?  Any tips on the whole property analysis process would be awesome!

I really want to avoid the "paralysis by analysis" epidemic that many first time investors struggle with, but I also don't want to start off with a bad deal, potentially putting myself back for awhile.

Thanks! Any input would be very much appreciated!

Welcome, Rodney! I'm also brand new in the MN REI market, and am looking forward to reading and learning everything I can get my hands on!

What kinds of REI are you interested in? Rentals, flips, wholesales..?

Hey @Corey Blane, thanks! I'm looking to finance my first home. Being a recent graduate out of college, I don't have a ton of funds, so I've been looking into using a lower money-down loan such as an FHA.

Thanks @Scott Swennes!  Will do!

Hey Guys!  I'm a recent college graduate with a degree in math and economics.  I just started working full time in a corporate role and am brand new in the world of real estate.  Right now, I'm absorbing any information I can pertaining to the field of real estate investing, including podcasts, blogs, books, and articles.  Right now, I'm still looking for my first property.  I'm currently looking for a single family home to live in and rent out to some buddies.  Long-term I'm hoping to build a portfolio of cash-flowing properties that produce enough income to live off of! 

If anyone here has any suggested reading, I would really appreciate it!  

Also, I would love to talk with anyone currently investing in the twin cities market, or really anyone looking to network!