All Forum Posts by: Matthew Lindquist

@Isuf Aruci I opened a checking account (free) with my personal accounts. A separate checking account is helpful to reconcile taxes at the end of the year (keep receipts too). Since i dont have much equity in my property, I dont have a LLC. If you have a lot of assets, I would recommend using an LLC to limit your exposure. Hope this helps!

Have you looked into co-signing on a mortgage and making the payments? Should be a pretty quick process asumming their credit score/incomes dont eliminate your chances of getting a mortgage. Congrats on being able to help your parents! Definitely a goal of mine as well.

Thank you both. @Account Closed what event are you attending on the 10th?

Hello!

I just bought my first deal a little while back and have people interested in my next deal. How do I raise money? PPMs & Term sheets? How do self directed IRAs work? Open to any and all suggestions!

Matt

Hello! 

I just bought my first deal a little while back and have people interested in my next deal. How do I raise money?  PPMs & Term sheets? How do self directed IRAs work? Open to any and all suggestions!

Matt

Looked in NE as well. Couldnt find any deals. South Minneapolis is great as long as you stay south of 39th. Do some drive thru-s in the neighborhoods down there. You wont pass the 2% test, but you should be able to find something around 1.25-1.5%. Feel free to reach out for any help. 

I am house hacking a duplex down here, so far - so good. 

Hello from Minneapolis,

We are in very similar situations. I graduated a little while back (May 2014) and have been at a good Minneapolis firm since then. I purchased a duplex that I am occupying. I plan on being here for a while too as I start fixing it up (no major repairs). Buying a duplex is a great choice but will be more expensive than you think. If youre doing FHA financing, I'd budget to pay out cash $2200/month in cash for Mortgage, PMI/escrow, and maintenance (dont forget about deferred maintenance, the roof/siding doesnt last forever). If you get a fairly priced duplex (2BR 1BA/2BR 1BA), you can expect to make ~$1300 for a 2BR you are not occupying depending on the location. Are you comfortable paying $900/month + utilities? It all starts to add up. This was a long response, but you were the one with the long post.

Matt