All Forum Posts by: Joseph Rath

First BP meetup! Excited to be there!

Hey Everyone!

I am looking to get on wholesaler lists for the Twin Cites/Minnesota. I'll be up front and say that it's gonna be awhile before I purchase anything, I just want to know whats out there. Looking for multifamily investment properties that don't need a ton of rehab. I understand deals get bought really quick and I'd like to practice running numbers. 

Thanks in advance. 

Joseph Rath

Mankato is about 40 minutes from my hometown, Easton MN. I am currently studying RE at St. Cloud State University. Actually currently in an information systems class...Haven't bought anything yet but I am planning on getting some multi-family homes in the cities. I'll probably be looking to buy in Mankato eventually... Nice to meet ya!

Hey! That's a really cool idea! What a perfect blend of convenience for both parties. I'd like to replicate this some day.  

Thanks for the feedback guys. It really helps to know that you're out there reading my stuff and responding.  

@Jack Butala

@Doug Thompson

@Michael Lee

@Cha Yang

Thanks Michael, I won't hesitate.

I realized I wanted to get into real estate 3 years ago after I had read Rich Dad Poor Dad on one of my field ops in the marine corps. I was super excited to learn all I could...even spending the money for a rich dad mentoring program. I was going strong for about 2 months....then I guess I just lost interest. 

Fast forward 3 years and I am out of the USMC, back in Minnesota, looking at going into college for a real estate business degree. I stumble upon BP while looking for a good podcast to listen to instead of the radio in Mankato. 

That was two weeks ago. 

I have been drinking all sorts of information in left and right, and trying to plan my next move. I'd like to hear what you guys think.

This summer: Read up on the market around the college I intend to go to (St. Cloud). Study the rent rates and find the crime free areas close to the school.

1st Semester: Move in to an apartment complex close to school. Pay the rent with GI Bill living expenses. Tour the area, connect with RE agents, brokers, REI groups. Make a network.

2nd Semester: Lease on apartment will probably be a year long, so I'll still be paying rent. During this time I will focus in and try to find my first investment property.

1st investment property stats.

Duplex

12% ROI

Cosmetic repair needed

space to house hack

Summer: Purchase property, move in, find more tenants, start fixing any issues with the house

Sorry if this was really long for an introduction...let me know what you guys think....

I'm really determined not to be one of the 90% that quit after the 1st month.

Thanks in advance,

Joe

Two seasons in MN. Winter and road construction.