All Forum Posts by: Otto Kinn

@Jackie Bladow

Hey Jackie! The answer is in your question. You should always shop around for contractor quotes, but the work costs what it costs and if after all of that the spread is not worth your time and investment, then you may need to research foreclosures and other off-market leads. Otherwise it could be worth exploring another market.

We've had our first experience with this as well. The program seems fairly liberal, though the turnaround time was pretty lengthy in our case. We first saw the email come in that our tenant had requested rent relief back in November. The tenant contacted us and explained their particular situation. We were required to match their case as the housing supplier, then things remained pretty stagnant for a period. Just this month we had been notified that the request was accepted through to June, and the state has submitted payment for the period December through February.

The drawback of the program itself is that you'll be waiting months to get paid, but the benefit is that once approved, you are guaranteed a check. I would not however, like to be the lessor that waits 3 months for approval, gets denied, then needs to request 3-4 months of back-pay from their tenant.

@Bruce Lynn

As of today, it would make a poor investment vehicle as an individual. HOWEVER, there is an interesting way that I found to capitalize on it.

I'm also the VP of our city's board of economic development, and our organization has purchased and implemented the locker system. Because this group contributes to the city, we also have access to the sales and use funds generated by the city.

The interesting part, is that the city can now capture the shipping tax generated by parcels being sent to the locker system. We expect that once the lockers are in full swing, they will achieve a positive ROI. I can follow up this thread once it has been in practice for a longer period of time.

@Matthew Rogers

Great plan Matt. Once everybody picks a day that works best, Jon and I will try to fit it in and be there!

How about you guys?

@Derek Dame

@Lee Gierszewski

@Warren Shope III

I want to thank everybody for coming out last night. We will go ahead and put a meeting together for next month right away so that the date is set well in advance!

Just a reminder to everybody, that tonight is our next meetup!
Door opens at 6pm and food & drinks are available at 6:30.

Our meetup location, 'The Cubby Hole' is on the South/West side of Main Street.
Call or text me if you have any troubles finding it. 701-337-6197

Consensus lies on March 24th,  The link to attend is here: https://www.biggerpockets.com/...

Consensus for our first "formal" meeting lies on March 24th.

Doors open at 6:00PM located at The Cubby Hole in Garrison on the south side of Main Street. All are welcome to come early.

Food and drinks will be provided at 6:30PM. I've put together a very rough agenda enabling an open floor for everybody to discus. My goal is for each consecutive meeting to be guided and shaped by our previous meetups.

I will kick off the meeting beginning at 7:00PM in order to get the ball rolling.

Things that some of us would like to cover:

Introduce yourselves

• What prompted you to get into investing?
• What are your long-term goals? Short-term?

Discus the power of networking

• How has knowing a fellow investor helped advance your own investing career?

Convenience

• How can future meetups help accommodate those of you in who live in Minot, Bismarck, Williston, Dickinson, Watford City, and alike?

Educational Content

• What sort of topics would you like us to discus?
• How do you like to educate yourself? Books/Podcasts/YouTube/TikToks?
• What sort of speakers would you like us to invite to future events? Property Managers/Commercial Brokers/Lenders?

More information: https://ipanthera.com/

@Warren Shope III

Hey Warren, great to see a new face! I would define our group as more of West/Central ND Investor group. It's rather informal as of now, but I forsee it picking up more steam this year.

Peers consist of 0~50+ unit property owners ranging from SFH's, 12-Plex Multifamily, Mixed-Use commercial, and so on.

I intend to host our next meeting in Garrison as It's between Minot and Bismark, and we have the perfect building for a meetup!

@Matthew Rogers I'll be there as well as one or two additional investors.