All Forum Posts by: Amalia G.

Hi All, 

My partner and I have been going back and forth and how to invest some funds.

We could potentially free up  ~450k to spend on real estate and at that time could have three traditional mortgages left.

We need on average 9.5% return to hit our goal with this money including property management and some realistic (to fairly pessimistic) numbers for maintenance, insurance, vacancy etc.

The problem we are running into is the places we typically buy are pretty cheap SFH. The cash flow is great but we will soon be out of mortgages and left with cash purchases or private lending, which do not appear to produce the same cash on cash.

I've looked for larger units: triplexes,fourplexes and at some smaller complexes but I can never seem to find any that provide the same return without being in some tough neighborhoods. Ideally we would like something not on the East Coast, as we are west coasters and do like to travel to check on our places from time to time. We typically get into B or C neighborhoods but not D or super depressed.

I'd love to hear what others would do in this situation.

SAwyer,

Thanks for you reply. I'll contact him. 

Amalia

Hello everyone, Can anyone recommend a good insurance broker in Minnesota? I have two sfh rental properties that I need better insurance on. I'd like to find a broker who is familiar with investment properties. Thanks.

Hey All,

 I am following this thread because my current property manager hasn't been doing the best job. Also curious if anyone has rehab contractor recommendations?

 I have some work waiting to get done.

cheers.

I apologize if I have posted this thread in the wrong section. I was having a hard time determining what the appropriate forum is for this subject.

My partner and I have just purchased two properties in Minneapolis. We have been having a difficult time finding contractors to get work done on a schedule. It seems most contractors are heavily booked during the summer months and particularly right now.

I have one home, just waiting for someone to become available.

Does anyone have a recommendation or are themselves a contractor? The scope of the work is general rehab stuff: floors, windows, doors, light weight exterior work, paint, fixtures etc.

We are not looking for bottom of the barrel cheap labor, but fair priced rental quality work.

Also, we would like to purchase more properties if we can find a contractor or network of contractors we trust. So there would be more work in the future. 

Hi Minh. 

We picked Mn for a few reason but not because it was mentioned in a bunch of articles suggesting it a great place to invest.

Honestly, I thought it might be a good place to invest  on a hunch and then basically found reasons to support my decision. There are a lot of stable medical device companies, it has many colleges leading to an educated population, it is growing and has a very low vacancy rate. And most importantly the cash flow numbers work on my proforma. I also visited and felt it was a beautiful city with a lot of young, hip things going for it.

The purchasing has been smooth but rehab has been slow. We have had a difficult time finding decent contractors who can deliver on a schedule. That is one that I wanted to search for on the forums. 

Thanks everyone. We are unlikely to do much investing in the Bay Area since it's not a cash flowing market. I wish it was bc it be much easier if our properties were local. I self manage our Austin Texas properties because I used to live there and have family in the area. It's a different story elsewhere. I'm still working on getting a quality property manager in Minneapolis. It's been tough. Thanks for all the warm welcomes

Hey Everyone.

I am a new member from SF. I have read links from biggerpockets many times but had never taken the plunge to join. Today is the day.

I am an ex bay area techie (Apple) and novice investor owning 7 rental properties in Austin and Minneapolis.I am here to connect with others, learn, share and collaborate.

Originally from Texas, My partner and I have been in San Francisco for 9 years now and just purchased our primary residence about 2 year ago in the bayview district. 

Our current goal is to invest in a few more properties so my partner can stay at home with me and our newborn.

Cheers,

Amalia