All Forum Posts by: Laura Thorne

We just had Southside Electric rip out knob and tube wiring in St. Louis Park.  The project took longer (and was more expensive) than originally estimated and there were some miscommunications along the way, but they finished the job.

The only really bad experience I had (where someone took the money and ran, never came back to finish as he promised) was with an arborist.  Not sure if you'd need one but message me and I'll tell you who that was.

Also the greatest handyman ever is Scott from HR Courtesy.  So good at explaining things, so incredibly honest.  The only person I've ever dealt with whose invoice is consistently LESS than what I think it will be!

Good luck, I am building my dream team too so to speak so if you have good experiences please let me know!

@Jacob Seaquist that's fantastic! Is it easy to find tenants in central MN? Are you renting out SFR?

@Harriet Baldwin Thanks for passing this along.  I barely listen to NPR now that I'm hooked on the BP podcasts!

@Tim Campbell your diligence and hard work is truly impressive!  When you say you find a good deal for every 90 contacts you make, how many of those deals end up with accepted offers?

Hi Tim!  I'm looking for 8-12 unit properties and have a similar goal, though it will take me longer than 5 years.  Would be very interested in networking!

@Blake Williams congratulations! Kudos for you for starting so young and getting in the game in a creative way. Best wishes to you on your REI journey!

What a wonderful post as we go into the holidays!  I agree that most people would congratulate you for your success, but if we don't have our morals at the end of the day, what do we have?  Perhaps taking each seller's situation into stronger consideration would be helpful.  As a previous poster said if you are squeezing an extra $5k out of a military wife with nowhere else to turn, choose not to.

I sincerely applaud your honesty and your introspection. It makes ME breathe so much easier as a beginner on the REI journey that it's ok, in fact GOOD, to battle with these moral dilemmas.

I have lost two jobs in my life.  It's extremely scary.  The second time turned me on to RE investing.  I suddenly realized that these secure jobs were anything but.  There is risk in everything.  Good luck to you.  My goal is to rely on myself, not a boss, for a paycheck.

I am looking to buy my first multi-family property. I want to learn as much as possible and am considering switching careers and working for a property management company to learn the business. 

Unfortunately I do not have RE experience and am not qualified for any of the jobs I see except possibly a leasing agent.

Any recommendations for getting a position in a RE related field if you do not have experience and the goal is to learn the business?  I work now as a speech pathologist and have a masters degree.  I have some sales experience.  Looking forward to hearing your feedback.

A BP article recommended that a good cap rate is one of the two strongest predictors of a good deal (that and ROI) and should be thoroughly researched. @billgulley, you disagree because the cap rate for the seller was determined by what he bought the property for? Is that why this is historical? I want to do my numbers right, but I also don't want to waste any precious time if a number isn't meaningful!