All Forum Posts by: Joel Armstrong

@Mindy Jensen I just passed my UST and MN SAFE exams as well. Will be starting as a MLO in MN here shortly. How have the first couple months been going for you? Any helpful tips that have brought you in new business?

Thanks!

Joel

If I was looking at a house to use as a rental property with the above specs what costs would I need to factor in? It was mentioned to me that to qualify for a mortgage for a non-owner occupied property you would need to have 2 years of prior landlord experience. Is this true, or could that be bypassed? Would it be possible to add a 2nd bathroom to make the property more attractive? It is located near a sort of busy street.

Here is the property -

http://www.zillow.com/homedetails/1723-Olive-St-W-...

The only reason I am looking at this property is I know the seller and feel like I could get a better deal than advertised. I am just wondering if it would be profitable and what upgrades could be done to make it more attractive. Could this property be flipped or is there not enough wiggle room in the asking price of 160k. 

Any comments would be greatly appreciated!

Hi @Andre Beraud 

Welcome to BiggerPockets! A great pointer is to be active on the BiggerPockets boards. There is tons of great information and a large community of people that are always willing to help.

I was just browsing Property Radar and it talks about CA. Is it only a site to be used for investors in CA or can it be used for other markets as well. Looks very interesting!

Jason,

Welcome to BP! I am originally from around the Woodbury area and currently live in Minneapolis. I am new to BP and to Real Estate Investing in general. Sounds like you have a few years under the belt. I have found BP to be a great help so far! 

-Joel

Suzanne,

Welcome to BP! I am new here too and am also from MN. I have found BP to be a great help so far and look forward to learning much more as I move forward in Real Estate Investing.

Unfortunately I can not make it to the cashflow game tonight. I was looking at it and was hoping to get out there. Have you been to one before? What exactly is it?

Thanks.

@StevenJohnson

I will definetly look into that. Thank you for the advice.

@David Moore

I am looking to learn more before I actually jump in and get my first property, I want to find a niche that I like. I would like to find a mentor to work with and I will hopefully be able to attend some Real Estate group meetings around the Twin Cities area and meet some Investors.

I just signed up at www.mnreia.com and look forward to browsing the site and looking for helpful resources on there.

Thank you for the reply and the information I appreciate it!

*Look forward to hearing from everyone and learning an extreme amount about Real Estate from everyone here on BP

My excitement got the best of my spell checker!