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All Forum Posts by: Jon Demma

Jon Demma has started 1 posts and replied 1 times.

Starting Out

Post: Starting Out - First Steps to Convert SFH Primary into Rental

Jon DemmaPosted
  • Posts 1
  • Votes 0

Hello, 

New investor, still learning. Quick background -- own a small business(10 years) in MN that has $0 debt. 

Would like to start our REI journey by converting our primary single family home into a rental. Purchased in 2017 for $305K, refi in 2020 for $236K at 3.25%, current value = $450K.

I know this is a very general question but I need some direction... Can someone point me in the right direction for the next steps to take? Anything to be on the look out for(good and bad)? 

I will gladly give back once I have some experience under my belt. Thank you very much in advance for any help!!! 

0 Votes
Saint Paul, Minnesota