All Forum Posts by: Matt Higgins

Does anyone else feel like it would be a really difficult time to leave your job and try to make a go of it in real estate?

if you’re going to sell real estate inventory is at an all time low 

As a guy who used to flip and no longer does, finding deals in my market is challenging.  Good luck Finding that 70% arv deal 

Multi family real estate deals are very very hard to come by and even if you found one the competition is driving yields into the ground.

what I love about real estate is that you can still run a big real estate business part time if you’re willing to work at it.  No need to divorce the job unless you can replace your income.  Advertising for deals is pretty expensive as well, and should be a consideration.

@Justin Bauer

Thank you Justin. I did sign up as it’s always nice to connect with others in the industry!

@Lee Syndergaard

Lee,

I think you have to go bigger than a SFH. For 250k you could probably pick up 5+ units and income in a city like Saint Cloud that has over 60k people. There is an apartment in ls suer on loop net that has some potential.

I agree that @Tim Swierczek would be the person to call. He knows the syndication and lending ins and outs in Minnesota

$17,500 for a 2 story condo from a gentleman that just got out of jail and needed to pay for his ankle gps monitor like Right Now. 10 years and a 100k dollars in rent later I still have the property!

10 years in real estate and no ones ever asked to see my degree.  That 100k in real estate would have gone along way in the early 2000s, but you can’t put a price on a good time and college was most certainly that!

No one wants to give up their contractors info (including me).  I appreciate you doing it @André Anderson..  braver man than me, must not be a flipper.  I might give him a shot.

:)

@Bjorn Ahlblad not sure that I agree that 1700 Rent on 250k investment is a horrible deal on this situation.  She would be in an investment for 50k if she rifi’s, half of which she inherited on an investment that is below the cost to build. I am assuming this property in the suburbs of the Twin cities metro where the cost to build starts at over 300k, inventory is right, and appreciation is happening.  Im a long term believer in the area that if it cash flows on a 30. 

What a great way to get back into investing.  Buy out your brother pull out 80% tax free at 3.9% for 30 years, get your systems in place or hire a great property manager in the area (cough cough), and then you can decide if you would like to buy more rentals.  So sorry to hear about your loss, but I bet it would please your mother to do something life changing with the money and the property.  Best of luck!  Let me know if we can help in any way!

@Arthur P.

I am starting to worry about inflation. Wages are finally starting to rise and we are at full employment, cost of living increase was 2.1% last 12 months (highest in awhile), housing pricing continue to rise, commodities like oil could increase with Middle East spat, the worlds balance sheets continue to expand and at some point the race to the bottom in regards to interest rates should end.

Sell bonds and buy gold?

@Tucker Walser

There are some Ins and outs to property management in the city of Minneapolis. When you call the city you will want to ask if the property had a previous license, and if so what “category” the property is. Feel free to DM me if you have specific questions we can help with