All Forum Posts by: Matt J.

 I completely agree; I have a lot more to learn before pulling the trigger. Do you have any recommended books on different types of real estate financing? I know I saw Brandon Turner came out with one on creative financing and that's definitely on my list. 

Raj, 

Which neighborhoods in the Twin Cities do you have properties? I've also been looking around the Hamline and St. Thomas campuses.. Are your single dwellings college rentals or single families or something in between?

The wife and I just purchased her grandparents house back in July, so the owner occupy route isn't really an option for us at this time. What is it that makes the financing complicated after 4 units?

I'm 24, and just looking to get started in real estate investing. I've read some good books on Real Estate Investing and am thinking I should start with a college rental in the town I went to school just because I know the market and that's the property I could best afford. However, I've also heard that it's not a bad idea to start with commercial/apartment using some creative financing. What do you think the best type of property is for a first real estate investment purchase? If it helps, I'm living in Falcon Heights which is in the Twin Cities area of Minnesota and the college town I refer to is Duluth. 

Well he passed away last May, and I don't think there was any evaluation at the time besides a tax assessment. We are going to have an appraiser and inspector come through soon to get a value on the home. Thanks for your answer!

Thank you, Raymond.

My fiancee and I are currently living in the house of her recently passed grandfather. We want to buy it. We can't afford the whole mortgage right now. Her father and mother are the executors of the estate, but her uncle is entitled to half of the home in the event it sells. They want their money now (the aunt and uncle) and her parents aren't in such a hurry. I am curious if we could get a mortgage to buy out her aunt and uncle and work out a sort of contract for deed with her parents. Has anyone heard of an arrangement like this or have other ideas of how this would work? I should mention the house is completely paid off right now.

Wow! So many responses, this is great.

Joel, we have about 40,000 saved up, but won’t be putting all of that into a real estate investment property. Probably more like 10,000 as of right now.

Steven, I am in a pretty similar situation to you. Both of my parents are educators too. I want to make sure I set myself up for long-term success and comfort. Did you get some practice on flipping then?

Andrew, that is awesome to hear about where you are compared to where you started, it's inspiring! I never thought of starting an LLC (shows how green I am). Is that a pretty extensive process? What kind of timeline would you suggest according to your plan?

James, I’m a member of the Air National Guard myself, thank you for your service. I’d like to have about that many too by the end of 10 years. You’re dreaming just like I am!

Bill, it’s nice to hear an example of a high school teacher who did well doing what I am sort of thinking of doing. I get what you’re saying; I should keep my options open. The only thing I worry about is possibly drowning in information. Maybe that’s an irrational worry though. You’re right about me having some time during the week to conduct RE stuff too, my summers just make it even better!

Steve, WOW. Absolutely right about that, this is great!

Engelo, I keep thinking the same thing. Your 2 cents are appreciated!

Zaid, I hadn’t considered that too much until you mentioned it (teaming up with an experienced flipper). I suppose a good question for me to piggy back onto that is, are there some house flippers in the Minneapolis/St. Paul area who’d be willing to teach me a few things? And I definitely do want to add to my income year-round and not just during the summer time. I’m sure I’d have time to do both!

Hey everyone, this is my first post on the BP Forum. I have been listening for a while to the podcast and I've also read the UBG and trolled the boards a bit. I am finishing up my student teaching experience this spring, getting married this summer and looking for our first home. I am curious as to what type of real estate investing would be the best for me to focus on as a school teacher. I have 3 months of the year that are open to me to focus on some real estate investing. Given this period of open time I have and a combined income of 70,000 a year between my fiancee and me, what does everyone think I should narrow my scope to in educating myself about real estate investing? Thanks so much everyone, and I'm looking forward to getting to know more about real estate through this awesome website.