All Forum Posts by: Michael Houston

@Tim Swierczek @Matt Humphrey @Bryon Andrews

Tim, Matt, and Bryon,

Are any of you familiar with the Austin, Minnesota area, regarding investment properties?  I see that homes and rents are on the lower end compared to the metro.  Is Austin, Minnesota a growing city? Is it easy to find renters in this area?

Thanks for any insight that you have.

@Daniel Anshus

Thanks for sharing your thoughts on single-family vs townhomes/condos.  How would I start to go about finding perspective single-family homes that are current rentals or could be turned into rental properties?  Also, how does one assess whether or not one can turn a profit after paying principal/interest, insurance, and taxes each month?

@Daniel Anshus

9 doors?! That's great!

I agree with the closer to the metro the more expensive a property is, but also provides more opportunity.  

I suppose I would like to have another property in the metro or just outside of the 494/694 loop. My question for you is the type of property. Again, my first door is a townhome. I like the townhome because of the HOA, but also dislike it because of the HOA. I like that lawn and snow removal is taken care of in an association, but dislike that expense each month. Do townhomes/condos provide just as good of an opportunity as single-family homes as far as cap rate?

Wow! @Bryon Andrews @Sarah Meres @Corey Robert Leet

I suppose I will put myself out there too.  I currently live in Lake Elmo and have 1 door (previously owned townhome) in Woodbury.  Am looking for another long-term rental property here in the state.  What are some areas in the state that wouldn't present any challenges in finding a tenant?  Are there any specific areas that are reasonably priced compared to the cities?  I'm open to single-family homes, multi-family, condos, or townhomes.  I'm still new to all of this and seeking any information or guidance anyone is willing to provide!

Thanks!!