All Forum Posts by: LeAnn Riley

@Aaron Langenauer

I have a friend in Port Washington. His duplex was close to $1 Million. Long Island is a higher priced area, as is California. The best way to start is as suggested with a house hack. Even if it's a single family. Buy something smaller that is first time home buyer inventory. Usually that is a 3 BR/ 1 BA home. Make sure it's in a good area and find something that needs some fixing - added value or that you can add on to the back or redo the kitchen, etc. If nothing is on the market, try Rent To Own. Sometimes that will flush out something that a seller just isn't quite ready to sell for a few years and it can be a good win/win for both parties. 

Also, you could advertise in the "local" paper or app based site - NextDoor. Neighbors many times know about something for sale before it hits the market. Find a GREAT agent too, many times we know about deals before they hit the market. Or in the case of fixer uppers, we know the wholesalers so can hep you find something that way.

@Joshua Robinson

Great comments and ideas. One other thing. It depends also on what properties your equity is in, where they are located - is it in appreciable areas? Also how long have you owned them, how are they performing, are they optimized. There comes a point where they are depreciated for tax purposes and the velocity of money is accelerated if you chose to switch out the portfolio to different real estate investments. That's why some people like multifamily or others prefer single family.

You are in a great position to really make a plan of how you want to deploy your funds. Is this a passive portfolio or are you wanting to learn how to scale safely and yet maximize your funds? Sounds like you want to participate as your next career or passion. 

So....it depends on your vision and direction. Do what you love and the money will follow, that's what I always tell my clients. Your hard work and prior planning affords you the luxury of really identifying what you want, growing your portfolio to live off the passive income and to leave a legacy. Everybody has different reasons WHY they are investing in real estate but usually it's for freedom to do what you love! 

@Jason Galli 

1. SFH - Western suburbs are slightly higher priced though appreciation is slightly better too. It's a trade off. So, answer is it depends on a few factors. Are you planning to live in this house? First tier suburbs are great too, like Golden Valley or St. Anthony or Hopkins. If you are planning to live in the property then you can have less down payment rather than the standard 25% down on an investment property.

2. Check us out as I run a team of investment property realtors. Look under bigger pockets events for livestream interviews about investing.

3. Trends - I agree with you that good schools are always a draw and help values stay strong on properties. Location still stands as the most important, even within a suburb, it can come down to the street, neighbors, whether there is an anomaly, like high wires, or nearby railroad tracks, etc. 

Also, a standard investing formula of buying 3 BR roughly 1200 sf house is valid in most markets. That would be considered first time home buyer inventory. So whether you keep for rental for however long or decide to sell, it is the most desired type of housing and always has a strong demand. I would call this a two play plan. Smart in this changing economy.

As far as the market in the Twin Cities right now, there is a lack of inventory, when something gets listed it's been moving quickly, within days. We are still seeing multiple offers and there is definitely tactics to getting what you want. There is opportunity from our recent events where more people are now making the decision to move. All this time at home has spurred some home improvements and getting prepared to sell and also some families have experienced unfortunate events that cause downsizing or selling. You'll see action and movement in housing in spite of unrest. Hopefully, housing will lead the economic recovery as predicted. 

LeAnn interviews Kevin Amolsch, a successful real estate investor and hard money lender. He dove into business after spending 4 years in the US Army. Founder of Pine Financial Group, Inc and author of “The 45 Day Investor” he has bought, built, sold, and financed thousands of transactions. Sign up for free at

Join us to learn from experienced experts who offer tips, tools, techniques and trends on the latest profit building ideas in real estate investing.

@Mitchell Miracle

That happened on a deal I just sold here in MN. We did check with a real estate attorney and because of the COVID-19 eviction stay. The result was that if the tenant didn't move even though they were supposed to, there was no recourse at this time. 

So to solve this....and make sure the new buyer could get possession of the house when they closed. The Seller worked out an arrangement with the tenant that if they moved as planned they would get their security deposit back in full and right away.

That helped make sure they could secure a new rental. We were lucky and it worked!  I suggest you talk with a real estate attorney. One other consideration may be that the owner has cancer and is not able to make the mortgage payment due to sickness.

@Mitchell Miracleundefined

@Rob Scarry

Congrats for getting going on investing even when you say you are risk averse. Your method of paying down the principal is always good but it will take longer than if you are willing to use OPM - Other People's Money. What I'm talking about is leverage. Also...when investing from afar, you need the right power team - the people who manage and watch over your property and investment. You already have experience in a couple markets. Maybe it makes sense to find another in one of those markets where you already have trust with property managers and others who helped you decide on those original investments. 

By knowing the numbers well, both in the market you invest AND location, appreciation factors, and whether smaller single family or multifamily gives you a better idea on which strategy works and is the safest way to grow quicker. 

@ Aleksi Moran Check the Event Page in Bigger Pockets, posted there my Livestream for investors.

LeAnn interviews Kim Nybo, a 30 year nationally-recognized State Farm Agent. She will discuss and take questions on what you need to know to be prepared and to protect yourself, your personal property and business holdings. Along with her insurance business, Kim has owned, rehabbed, and run 40+ rental units.

Get your questions answered LIVE.

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During the due diligence process, especially on multifamily it is always wise to make a quick phone call to the police department and check on any reports for the property address. Along with checking on the Trulia site will give you a view of the entire neighborhood with crime facts. 

Insurance: Protecting Your Assets

LeAnn interviews Kim Nybo, a 30 year nationally-recognized State Farm Agent. She will discuss and take questions on what you need to know to be prepared and to protect yourself, your personal property and business holdings. Along with her insurance business, Kim has owned, rehabbed and run 40+ rental units.

Get your questions answered on this LIVESTREAM. go.leannriley.com/club