All Forum Posts by: Kristine Mier

What options exist for transferring property to avoid paying medical bills upon death?

Thank you @Cody L.! Good luck to you, too!!!

Thanks for posting this! I love your whys and can so relate. I just bought my second single family home and hope to continue to grown through different methods as well. Currently exploring getting a real estate agent license but also worried about getting distracted with other things similarly. I will definitely keep tabs on you! 

@Armin Nazarinia I'm working on it, but that would have been like a miracle deal! ;-)

@Armin Nazarinia - that was a fat finger - I bought it for 227k, and I didn't realize this was going as a post - I thought it would just be on my profile. I'm a newbie - lol! 

There's a lot of benefits to earning a degree: the stick-to-it-tiveness, the people you meet (networking), learning (pick some classes that you actually do like), the discipline of doing something even though you don't necessarily love it (realities of life), and having a degree that some people will actually respect more (even just subconsciously). Start your side hustle and push forward is my opinion. Good luck whatever you decide! 

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $22,700

I occupy the home and rent rooms.

What made you interested in investing in this type of deal?

I believe the market will continue to go up in Minneapolis for single-family homes and this specific area will go up.

How did you find this deal and how did you negotiate it?

MLS. I listed all the repairs needed and discussed comps.

How did you finance this deal?

Traditional financing through an independent mortgage company.

How did you add value to the deal?

I've added a 4th bedroom, have done a lot of electrical, plumbing, painting, new carpets and flooring, and more.

What was the outcome?

Able to charge more for rent.

Lessons learned? Challenges?

This is the first time in three years where I've implemented a thorough background check since I had a problem roommate.

Investment Info:

Single-family residence buy & hold investment.

Sale price: $225,000

I bought this home while I was living in the area. I started renting out rooms to help with the mortgage. Now it's completely rented out to three individuals, one which manages the property for me.

What made you interested in investing in this type of deal?

I lived in the area and the market has been appreciating exponentially.

How did you find this deal and how did you negotiate it?

MLS, traditional negotiation. They wanted 235k

How did you finance this deal?

Traditional bank loan

How did you add value to the deal?

I asked for sellers to pay closing costs and purchase a home warranty.

Lessons learned? Challenges?

Having someone I trust manage the property from inside the house has worked out great. She may want to buy the home, so she takes very good care of the home.