All Forum Posts by: Kyle Nelson

Hi All,

I started my REI journey late in 2023, I've been focusing a lot of my efforts on off market deals. I've done too good of a job at this point (if there is such a thing), and have more opportunities than I can take down on my own at this time. I'm looking to connect with any cash buyers in the TC Market looking to invest in south central and south eastern MN properties. Think Rochester over to Fairmont and up to Fairbault areas. I want to know what you're looking to buy and how quickly you're able to move on opportunities. 2024 is looking great, and I'm excited to connect with you!

@Adam Tafel Great post!  That is really helpful information in reviewing the options.  My biggest issue with handing over the reins to a property manager is not micro-managing them. My concern is making sure my properties are going to be well taken care of and I'm certain a quality PM can do just that, however, its a mental block for me. 

Congratulations @Sheree Wegenke on your first experience.  It sounds like so far its been a pretty painless experience and hopefully continues to be that way for you!  Keep up the great work. 

Where did you guys go to get your loan?  Was it a national bank or a local bank?  Did they require you to put down 10%-20% because its an investment property?  

@Daniel Purcell, first of all, thank you for the warm welcome! 

Secondly, thank you for the insight.  Certainly some good points and things to consider with regard to this market.  Do you operate a management company as well?  What I'm getting at is, you mentioned you manage properties for others in California, are you limited to that market or are you looking to expand to other markets?  I'm doing my due diligence in market research and have the goal set to buy 2 doors by November 1.  I wouldn't mind discussing a little about your management of out of state rentals and such. 

Thank you @Joseph Cacciapaglia, @Paul Reiland, and @Josh galdston for your input as well! 

@Joseph Cacciapaglia, @Alina Trigub, and @Evan Polaski, Those are all really good points and suggestions.  I appreciate you all taking the time to respond with solid feedback.  Now the discovery process begins!  

Thanks again!

Hello all, in doing some of my initial research on rental opportunities, I found a couple of apartment buildings in the area that are not for sale but I am interested in buying. However, I am not sure how to approach the current owner.  The buildings have not had a face lift in about 20 years and look a little distressed.  I know they are not being run as efficiently as they could be so I see a lot of potential here.  The problem I face is that after doing some research on the county records, I came to find out the buildings are owned by a corporation. 

How do you know who to contact at said corporation to see if they are willing to part ways with the building?  Is it better to go direct mail or phone call? Do you go straight for the owner of the company or do you start with the secretary and work your way up through the various personnel?   Do you go direct and say "Hey, I am interested in purchasing this building from you, are you interested in selling?" or do you get to know them a little bit and work your way into it?  

As always, any opinions, experience, or insight on this would be helpful. 

@Larkin Adey, Thanks for reminding me! :-P  

Florida is definitely one of my target markets. 

@Corey Hawkinson, Congratulations to you on your new born!  It's definitely an exciting and stressful time but very much looking forward to the Dad life.  I certainly look forward to meeting you sometime.  If you hear of any events, please pass along as I would love to attend. 

@Justin Ellis and @Matt Morgan, thank you both for the information you provided.  All great points  and certainly things I will keep in mind with my analysis.  I will reach out privately to continue the discussion if you don't mind me doing so? 

@Colin Johnson, I am looking into this as a strategy as well but am data collecting and analyzing at the moment.  I am curious to hear more information on this topic so I will be following. 

@Catherine Emert may be able to assist you with this.   She would be someone to talk to if you're looking to buy a vacation rental in Oregon.