All Forum Posts by: Ivan Widman

Great info, Tim. Something I’ll have to keep in mind as I get more units and tenants throughout the year. 

Ah yes I can see how that could be quite the mess with many units. So then I’m back to it would be nice if cozy, stessa or whatever app supported this. I have tenant and lease info in there already and the app sees rent paid so should be simple for them. Future enhancement I’ll just hope they add I guess...

Hey Guys, I am pretty new so excuse my ignorance. The form you need to fill out and send looks pretty simple (name, address, rent paid for the year). I assume it's only simple and quick because I only have to do 2 (already on pace for more next year).....70 would be a long tedious job. Just wanted to make sure I'm not missing something else in this process. Also, I'm guessing the common rental management software of today doesn't do this so readily because it seems to only be MN that requires this?

Redfin says 22 days on average over the last month

There are plenty in the area, including myself, looking buy. If you provide some details I might be able to help a bit.

There was a good BP podcast (which I believe the idea is from a book) that talks about comfort vs profitability. They are inverse of each other so it’s different for everyone.

@Account Closed Right now I'm trying to nail something down soon to take advantage of the FHA loan. I'm really only constrained by the FHA limits. I got my first rental property, a duplex, and am now looking to keep the ball rolling. Ideally I'd find something in a good area that needs some work. Over the course of the year that I live there I'd update both sides ultimately moving back into the house I currently live in. I'd have to rent that out for a year as well but well worth the time and effort for the springboard I feel it would give me. Not a lot out there outside of Minneapolis or St. Paul for a GREAT price. Let's grab a coffee or drink and discuss some more.

Actually the hud.gov site looks like duplexes will go to 490k for next year.

Hello

My lender told me yesterday he can get a FHA loan pushed through in Hennepin for up to 508k. I can't find anywhere that says the limit has changed above the 469k. Anyone heard of this?

Hey Nick, I've also been contemplating househacking in the area. I think you're going to have a tough time finding anything decent near Minneapolis in that range. I assumed you meant 4+ bedrooms total and not per side. St. Paul seems to have a few but again, not in the best areas. From what I've seen, you might need to get out further or raise your range. Are you thinking FHA for your loan? If you haven't considered, the low down payment might help you get to a higher range.