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All Forum Posts by: Mike Strodtman

Mike Strodtman has started 2 posts and replied 23 times.

Post: Thoughts on this deal?

Mike StrodtmanPosted
  • Investor
  • Bemidji, MN
  • Posts 23
  • Votes 6

The information that has been provided looks good!  Reach out if you like. Would be fun to discuss the details more in depth with you. 

Post: Thoughts on this deal?

Mike StrodtmanPosted
  • Investor
  • Bemidji, MN
  • Posts 23
  • Votes 6

The information that has been provided looks good!  Reach out if you like. Would be fun to discuss the details more in depth with you. 

Post: Looking to start my investment journey

Mike StrodtmanPosted
  • Investor
  • Bemidji, MN
  • Posts 23
  • Votes 6

The first one is always the hardest!  
Strongly recommend getting involved with a group or hiring a mentor/coach for a short amount of time. It will get you over the hump and push you through the analysis paralysis. 

Post: our first rental property

Mike StrodtmanPosted
  • Investor
  • Bemidji, MN
  • Posts 23
  • Votes 6

I would recommend doing the property management yourself. The experience you’ll gain will be priceless when your portfolio grows and you need to manage a property manager. There are a lot of resources out there and coaching to help you learn all of this. Even if you select coaching, it will probably be cheaper than a property manager, and again the experience will be very helpful down the road. 

Post: Should I sign an exclusivity document with an agent?

Mike StrodtmanPosted
  • Investor
  • Bemidji, MN
  • Posts 23
  • Votes 6

I work with many different realtors and it has worked out well over the years.  Whoever brings me the deal I am 100% loyal to them for that project.  There are many times I will only hear from one of them. If I was to sign that document I feel it is very possible I could and would have missed deals.  I also know that realtors work with a number of investors. Are they willing to sign a similar document that says they will bring me and only me each and every deal first?
So I wouldn't sign a document like that, although I promise I will work with them and only them on any deals they send my way.

Post: Used or new appliances

Mike StrodtmanPosted
  • Investor
  • Bemidji, MN
  • Posts 23
  • Votes 6

I agree, if they are in decent shape and working, keep them there and use them.

Post: Cast Iron Plumbing

Mike StrodtmanPosted
  • Investor
  • Bemidji, MN
  • Posts 23
  • Votes 6

First off great job in doing your due diligence!!  Many people would have missed that and just moved forward with the purchase.
There are a lot of things to consider here and would take a while to write out.  Would be happy to discuss more if you are interested. DM me if you would like.

Post: New member, Looking to get Into the Grind

Mike StrodtmanPosted
  • Investor
  • Bemidji, MN
  • Posts 23
  • Votes 6

Thank you for your service!

VA loan is a great way to get started!

I have been using Apartments.com for about 3 years and it has been great!!!  

Post: Spreadsheets for rental properties

Mike StrodtmanPosted
  • Investor
  • Bemidji, MN
  • Posts 23
  • Votes 6

Are you looking for one to analyze larger multi family properties or smaller buildings? I have one that works great for smaller properties.