All Forum Posts by: Matt J.

@Eric Weldon-Schilling makes sense. Here’s the biggest thing most people could do better at. Focus on the things you can control and forget about the rest.

Don't like being a renter or don't like the "imbalance" between landlords and tenants? Become a landlord. Buy a duplex via FHA with 3.5% down and rent out the other side. If you can't beat em, join em.

I grew up with the mindset that the rich and wealthy were greedy and selfish and immoral. As I grew up and learned more, my views have shifted. It’s a whole lot more fun spending your time trying to build your wealth instead of complaining online about how unfair life is. Life isn’t fair: what are you gonna do about it?

@Robert Espenson I have some names and ideas I can share. Shoot me a message

@Eric Weldon-Schilling why are you on BiggerPockets?

Thanks Bruce, just sent you a note. 

Welcome! Have you figured out which strategy you're going to pursue? Sometimes the biggest hangup for people to get started is the shiny object syndrome. They bounce from learning about wholesaling, to learning about syndications, to learning about BRRRR investing, you get the idea. Once you firmly decide on your strategy, you can start taking meaningful action to put your first deal together. Best of luck to you!

Hey @Daniel Anshus I actually may have walked through that property last weekend and it was definitely overpriced in my opinion; LOTS of work that needs to be done in there. I'm looking for a single family that's at least 4 bedrooms or has room to add a 4th bedroom somewhere in the house. Something with deferred maintenance that a normal retail buyer wouldn't want. Would like at least 2,000 square feet, finished or unfinished is OK. I am actively working with an agent on this so I want to make that clear up front too. 

Hey everyone, I know most of us on here are looking to find off-market deals primarily as investments. What I'm looking for is a fixer-upper for my family to purchase as our primary residence in Minnetonka. I live about 50 minutes away so don't have the time I wish I did to drive for dollars in that area. 

Are there any wholesalers in the Twin Cities who are active in Minnetonka (dumb question, I'm assuming there are) and is there anyone willing to drive for dollars for me, with the understanding I would pay you a referral fee for any property brought to us that we were to make an offer on? 

@Michael Schraepfer exciting to see you pursuing this further! So $2600 total for a $300,000 property, not quite 1% but like @Tim Swierczek mentioned, the housing stock is SO old in Duluth that these places would end up appreciating faster, and rents would go up faster too. If you're looking for someone to partner on one of these, I'd be open to collaborating! 

@Jayna Stevens the market is definitely competitive in Duluth right now. But it is everywhere. Have you tried looking more off-market? One thing you could do is track down investors on BP who invest in Duluth (like me) and reach out to see if they'd be open to selling any of their properties. Using DealMachine to drive for dollars and skip trace owners of run down properties and follow up with them can be a good idea. Contacting landlords on craigslist can be a good idea. In a market like this, you really have to look off-market. 

The last 3 deals I've done in Duluth were all off-market. The first one was from a friend of a person I met in the Twin Cities at a real estate meetup. The second was from my wife staying in touch with her landlord from college. And this last one was from my real estate agent who knew what I was looking for (my criteria, etc.). 

Network, network, network, and you'll have a lot better luck. Depending on what you're looking for, I might have something I'd be open to considering selling. 

Happy to share, @Craig Hansen!