All Forum Posts by: Kang Thao

Amber Gonion.. thank you for your response! 

HELLO! We are in the process of closing on our very first multifamily, a 4plex, at the end of this month. It needs some work done in all the units, but we are excited non the less. Everything in REI is still new to us, but we have been doing tons of reading and researching on BP.

I know we need to setup a separate bank account from our personal finances to run our rental properties business, but not sure if we should go through a "big bank" or "small bank"/credit union.   We were wondering what all you experienced investors' opinions are (pros/cons of each for use on rental properties) and if you have any really good banks/credit unions you would recommend for up here in the MN Twin Cities area.  Thank you in advance!

Kang T

Welcome to BiggerPockets Alan!

Hey all! I was wondering if anyone knows of any good quality handyman or contractors (GC, subs, etc.) in the MN Twin Cities area you would be willing to refer?Looking to build our team since we are still in the beginning phases of our buy and hold adventure. Thanks!

Kang and Jerry

@Eric Wong~ Awesome! I just checked out their local site and I do see that they have some type of 3% down product. I'll see what they have to offer.  Thanks! Will probably check out Alerus and Premier Bank as well since they are all around the same area and are all small CU's or banks.

Kang and Jerry

Hey all! I was wondering if anyone knows of any good quality handyman or contractors (GC, subs, etc.) in the MN Twin Cities area you would be willing to refer?Looking to build our team since we are still in the beginning phases of our buy and hold adventure. Thanks!

Kang and Jerry

So we have been in the Twin cities market looking for our first mulifamily property (preferably 4plex) to purchase with the plan to use FHA financing. One main problem we are having is that many seller's terms don't include FHA so we were wondering if there are any lenders out there that offer smaller than 15-20% down payment conventional loans.

We have our current house that we will rent out once we find that multifamily to purchase and then owner occupy using FHA with 3.5% down. Otherwise we would consider using conventional to purchase if any lenders would accept 5-10% for multifamily.

Any insight would be very much appreciated. Thanks.

Kang and Jerry

Hey guys.. just wanted your thoughts on this. It's probably been posted about and asked many times over, but I was wondering what you all think about investing in townhomes or condos compared to SFR In the MN twin cities metro area. Any one care to share their own positive/negative experiences? We initially just wanted to focus on purchasing our first multifamily this year, but looking at other options that also make sense. Maybe on the eastside metro ie Woodbury, Oakdale, Cottage Grove, etc.

Kang and Jerry

Sounds like a great deal.  Just wondering if you were able pick up that 4plex. Those 4plexes are difficult to come by it seems.

I am an Emergency Room RN and husband was a Carpenter.