All Forum Posts by: Jacob Carroll

Hello Everyone!

It’s time again for us to get together for a BP Minneapolis Meetup! Thanks again @David Plaunt for coordinating last time and doing a great job facilitating introductions and being inclusive. 

Location/Time Details:

Pryes Brewing @ 1401 West River Blvd in Minneapolis, MN (Thursday June 16th from 4-7PM)

Recap: Last month we let the conversation free flow and it allowed those that joined to ask questions (judgement-free, btw) and seek experience from other attendees. This included, education resources and books, technologies / methods used to calculate deals, and many lessons learned along the path of becoming an investor. 

During this next meetup, it would be good if we could do meet & greet for the first 30mins as people grab an app or a drink and then we can jump into 1-2 targeted topics. Open to suggestions, but based on your feedback we can use a majority on here to decide. 

Sign will be present so you can find the group, no pressure - beginners and seasoned investors alike are welcome! 

Hope to see you @ Pryes Brewing on the 16th, Cheers!
-Jacob Carroll @bridgingtenants

Quote from @Geoffrey Francis:

I am looking at purchasing a property in Minnesota at a Sheriff's Sale/Auction. The regulations for foreclosure sales in Minnesota seem to be quite different from surrounding states. I am looking for some feedback from someone that has done it before. I want to learn more about how redemption and evictions work in Minnesota, including the risks for buyers at Sheriff's Auctions. 

Many thanks for considering my ask!

Great question Geoffrey! I am also interested in better understanding this process and the risks involved. Thanks for posing the question and please let us know if you find any other resources on this process outside of BP. Cheers! -Jacob

Great meeting all the folks that came out today and thanks to David for setting this one up! Nice to connect with several of you. Please follow me on Insta at BridgingTenants. DM for any questions and let’s keep the conversations rolling. Cheers!

Quote from @Sova Kim:

@David Plaunt@Erik Gardea@Jacob Carroll

It was awesome meeting you all at the meeting today! As first time, investor that hasn't gotten his first property yet, I definitely learned a lot. I learned what the market range is, to not have such a wide criterion, what types of loans to use, different resources to look into, and much more. I look forward to the next meeting and meeting more people, maybe sharing my first property journey, and learning even more!

Hello Everyone,

Good evening. I thought I would ask if anyone planning to attend the upcoming meeting has experience with the purchase process of foreclosures/auction.com properties. I am continuing to expand in areas where I can establish greater forced equity through buying distressed properties. If anyone has bought a foreclosed house and wants to take me through what they learned or has any good resources that would be great. -Jacob

Welcome Wade! There is an upcoming BP meetup on May 12th that you might want to attend to connect with other investors. I too have that similar goal and am a little further along and could help provide some direction. DM me and we can connect when your time allows. Cheers!

-Jake

Hello Ashley, happy to connect with you and offer some of my experience up to you. Let me know what works on your end. Perhaps coffee or you can stop by one of my rentals that I am remodeling and you can get a feel for my process. No pressure but happy to help. I will also plan on attending the BP meet up on May 12th here in Minneapolis. Search for that forum thread or reach out to me if your interested.

Looking forward to attending, thanks much for organizing! Hoping to meet some additional investors and hear about their recent experiences finding deals and growing their portfolios. Interested in the group’s near and medium-term outlook with rising interest rates and whether there will be softening in the local market. Cheers! -Jake

Quote from @Ryan Herickhoff:

How do most investors feel about how increased interest rates will impact the R/E Investing market?  Rates up over 1% takes away a significant portion of cash flow making there little to no cash flow at market rental rates...  Investments always look better 3-5 years after purchasing but wanted to see how the community is reacting to the increase in rates.  Mostly talking 2-4 unit properties, but open to the larger discussion as well.

Hi Ryan,

The recent increases are definitely a pinch to the Cashflow situation. The numbers are the numbers so don’t push it to the limits. I have found some success in providing more premium feel / experience to my units which allow for greater rents. However I am focused primarily on SFR townhouses. 

love to know where / how you are finding quads for sale in the twin cities?!?

Hello Deepak,
Not sure how we can connect, but I am an investor in the west metro. If you find a way to get ahold of me I would be more than happy to give you some advice.
Cheers! -Jacob