All Forum Posts by: Kurt Pauley

@Keaton Walkowiak

You got a ton of good advice here. I would make sure to connect with a great lender. They will tell you exactly what you need to do. You could also potentially use your parents as a co-signer on the loan if they are willing. 

Credit card for sure. Become an authorized user on parents account. 

Use FHA or low money down loan to house hack.

Location is everything. 

Not sure where you're based but if you need any advice on locations in the twin cities let me know. 

@Jason Clemens Sounds like you're in a good position equity wise. I would definitely try to do the cash out refi option before selling but that is personal preference. I have a short term rental on the north shore and it does very well in the summer but slower in the winter. Location is key. Where would you think about buying your STR? Let me know if you ever want to connect further. I am always open to meet up

@Will Gleason This is very common. Focus on how it will perform once you move out of the property. The benefit is to live cheaper than it would be to rent and also participate in the appreciation and equity building. 

Christ Stinton with Honest Exteriors is great. 612-310-6743

@Jared Luhman

I would stick to the Red Wing market and work really hard to find your own off-market deals. Direct mail, cold calls, driving for dollars, etc. 

@Matthew Comella Welcome to BP,  Like Jeff I am curious what your strategy is. Buy and hold or what is your main goal? The Twin Cities does have a lot of competition right now and things are often going above asking price. I think the key to finding good deals is looking in the right neighborhoods and specifically neighborhoods that are on the cusp of seeing a lot of growth. It is always important to do a lot of market research and identify some areas or gaps that could have potential value. I am always open to chat on the subject so let me know if you want to connect further. Good luck with everything!

@Hartley Schwartz. Hey Hartley, I have invested in Minneapolis and I am a realtor helping investors in this market. As @Tim Swierczek said the city is becoming more anti-landlord but I don't think it's enough to outweigh all the positives in the market. Great appreciation and strong rental demand. There are some areas that are prime for investing in that haven't see the prices become inflated like some of the more popular areas. Are you looking to invest in Minneapolis?

Generally the title needs to match on the property you sell and the property you buy. I would talk to a 1031 agent. I use First American Exchange

Don't forget to try a commercial portfolio lender!