All Forum Posts by: Matthew Johns

Looking on buying a property and living there fixing it up than moving and using it as a rental. The property I’m looking at has a lot of potential to force a lot of equity on it. I was wondering is it a bad idea to do a cash out refinance and use that equity to invest into another rental? Or is that a sketchy situation to put myself into. Thanks.

@Jonathan Greene would it make a difference if we plan on living there for 2-3 years and doing everything Over that time frame? Cause afterwards we plan on moving to another home and making this house a rental.

@Evan Polaski we also plan on living there for 2-3 years then plan on moving onto another property. the main goal is to make it tenant proof and ready to rent. With that time frame do you think it’d still be a bad investment? This is also our first home.

@Caleb Brown it would rent for around 1700-2200 we also plan on living there for 2-3 years then we plan on moving after and using it as a rental

@Jonathan Styer well we also plan on living there for about 2 years to 3 does that make the situation sound better? Then we want to rent it after

My wife and I found a home for 240k off market in a neighborhood(like b- c+ neighborhood) where homes are being listed at 250k-275k in MN (Don’t forget people are over bidding homes 15-30k on homes right now. Maybe more with certain homes) House needs work but nothing to huge. I am a plumber and can handle most projects myself. Also I am connected to many men in the trades which could lower my cost and help me or give me knowledge. sewer line to street may have roots in it and potentialy may need to be replaced or snaked. Which I can actually do myself. I can use a mini and fix it too and dig it up. (Have experience in locating and digging up locates) roof has a potential small sag but my friend works in roofing company and can help me fix it. I can remodel the bathrooms(they need to be fixed and remodeled but I can do all of it) the house wreaks of pee and it needs to be cleaned of the piss smell. Also everything’s need to be repainted and trim needs to be replaced. Was just wondering if an experienced investor could help give me with advice on if this is worth my time. We want to fix this home up to force equity on it and potentially sell it for more or rent it and hold it for a few years then sell and trade up to more rental property’s. Thanks any advice would be helpful

My wife and I are currently looking for our first house. We wanna use our first house as a rental. We plan to live in it for about a year or two than buy another property. What I’m trying to ask is, would a townhome make a first descent rental property or should I aim for a home as a rental?

I am looking at getting a duplex within the next year. To be honest I know little about screening and what’ comes with having and finding a good tenant. I am a plumber and can handle most of the handyman work on the property but I was wondering if it would be smarter for me to hire out a property manager rather than me managing it? And if anyone knows, how much does a property manager typically cost?

I have been interested in Real Estate investing for a few years now and am in search of any real estate investors in the Minneapolis area who have a good understanding of how to flip and rent houses/multi-family. I am tryin to learn more about real estate and trying to network with individuals who are already in it and could provide me with knowledge and wisdom on where to get started. In return I could help the investor out with maybe helping manage, finding property’s, cleaning property’s, or leasing. Just doing the dirty work to make the investors life easier. Anything to help bring the investor value while I in return learn at little cost. I am also a apprentice plumber and could provide some value on the bathroom side of things. If not does anyone know any way I could network with investors in the Minneapolis area. If so please provide me with information. This stuff excites me.