All Forum Posts by: Munira Hassan

Thanks @Zachary C. I'll update you on my progress. 

Thanks @Corey Melkonian your words of encouragement means a lot to me. 

Hi @John S. 

Thank you so much that is most helpful information. 

I found a nice duplex with small issues (water heater needs replacing) other then that it's pretty much ready to rent. I'm paying by conventional loan with very little money down ($1000). The Duplex is $105,000 with a single car garage and additional parking. 2 bed and 1 bath first unit. 1 bed 1 bath with potential bedroom second unit. New roofing and renovated bathroom in second unit. My loan requires me to be own occupant so I'm planning on living in the smaller unit since I'm single and renting out the bigger unit for a family (bigger unit has it's own dinning space hardwood floor throughout the house). My question is since I did the analysis how do I know I'm doing it correct. I've watch the video on it and read the blogs about rent analysis. But I still feel nervous. This blog here about how to own your first duplex shows you how a potential looking duplex once analyzed can be a disaster.  http://www.biggerpockets.com/renewsblog/2014/07/19... . I just wish I had help knowing I'm analyzing my potential correctly. I can think I'm doing it right when really I'm missing an important issue. 

Thanks for your help in advance. 

@Daniel Okon Thank you for the advice. It was very helpful. 

Does anyone have experience in owning rental property in North Minneapolis Minnesota. If so how was your experience being a landlord. North Minneapolis has a bad reputation but should that stop me from investing? I know there are always risks involved in any investment. 

Any thoughts you have on this location is appreciated. 

Sawyer Lubke, 

You are the best. Thank you for taking the time to pass on your wisdom. So greatly appreciated. 

I've watched the step by step guide to obtaining your first rental property on Bigger Pockets. I've read the Ultimate Beginners Guide. I've been going to local events in my city on real estate investing. I've actually watched almost all the podcasts on Bigger Pockets and been absorbing all the information I could get my hands on. I couldn't find a mentor I could sit down with and learn from. So I've been using the forums on Bigger Pockets to ask my questions and receive feedback.

I'm in the process of looking for a Single Family Home in Minneapolis or surrounding cities. I'm only approved for a small loan so for now my primary focus is on single family homes. I plan on upgrading a year and a half from now to duplexes. 

My question is what were some of your due diligence prior to purchasing the home. What do you look for in a potential rental property (Single family). I know the math is the most important and having inspectors look at the property. Making sure it passes inspection. But any other advice you might share would be amazing. 

Thanks for taking the time to read this long letter. 

Munira :-)

Can't thank you all enough. Very helpful information. 

Thank you for all the great responses.