All Forum Posts by: Ryan Mosch

Hey everyone!

My wife (Ashley) and I are still looking for a 2nd house to purchase in Rochester, MN. We have been looking for about 6 months now and have made multiple offers on homes but have fallen short on every one. The market is so hot here and by the time it hits the MLS it's either to expensive or it seems every listing gets multiple offers. We have help with a down payment if needed (or can buy outright if the price is low enough - 30k or less) and are looking at using conventional financing for the rest. We are also interested in contract for deed. Right now we are really interested in getting into a live and flip opportunity.

We are trying to reach out and hopefully get in contact with and meet a few wholesalers in the Rochester, MInnesota area.

Some friends of ours and us have created a “book club/ real estate investing” group and we meet 1 to 3 times a month. We are also looking for other investors and like minded people who would be interested in coming and checking it. Search my name on Facebook and shoot me a friend request if you are interested.

Thanks all!

@Nick Stageberg Hey! I just s ent you a friends request on Facebook. My wife and I also live in Rochester and have been looking at homes to possibly invest in. Some close friends of ours just started a book club for new investors. We have about 8-10 people right now. The goal is to meet 1-3 times a month and discuss a book and real estate. If you interested in joining, just accept my friend request and I’ll get you invited to the group. We are always looking for more talented and knowledgeable individuals.

@Reed McLevis Hey! I just s ent you a friends request on Facebook. My wife and I also live in Rochester and have been looking at homes to possibly invest in. Some close friends of ours just started a book club for new investors. We have about 8-10 people right now. The goal is to meet 1-3 times a month and discuss a book and real estate. If you interested in joining, just accept my friend request and I’ll get you invited to the group.

@Mark Pedroza thanks! I’ll give it a try.

Does anyone have any advice on finding out who owns an abandoned property and how to locate where they may now live? We are using county records but I know different site have been mentioned on the podcasts before. We are also wondering if there is a way to find properties that are currently in early foreclosure? So we can monitor it as we look for properties. Thanks everyone in advance.

@John Woodrich That’s where I would like to get as well. We looked at the house. And this deal is not for us. We found that all 4 walls in the basement are buckling in and the house needs to be lifted with a new foundation put in. This would have left us with an off between 40k-50k. The realtor said there are already half a dozen offers on the table and the asking prices has already been met. I don’t understand how someone can make any money at that price point with what the house needs. But I am curious to see if they actually repair the massively damaged foundation, or try to hide it by “finishing” the basement.

@John Woodrich This would be our 2nd remodel, but first true flip. (We are currently holding the first one). A vast majority of the work will be done by myself and a few close friends. Those are early estimated repairs before we have even seen the house. We have a few people who going to go through it for us today and give us their feedback on it as well. Our ARV May be moving closer to 240-250k the more comps we look at.

@Michael Lee Thanks for input. We will not shy away from anyone who is willing to give us some advice! Thank you for your response.

@Patrick Daniel Its a 3 bed 1 3/4 bath. 2,545 sq ft. Purchase price sits at 95k right now. Before doing the walk through my estimated repairs will include. -Full kitchen tear out and rebuild $10000-12000 -All new flooring $3000-$4000 -Paint $1000 -A few fixtures $1500-2250 -appliances $4000 -roofing $6000-8000 -Siding (is a maybe depending on how the rest of the neighbor looks) $3500-5000 -deck repairs $1000 - garage door $800-1500 - Bothroom upgrades $3000 Depending on the lay out we would be looking at doing master suite with a Bathroom. Early ARV estimate is $199,500

Hey guys! My first post here. My wife and I are going to look at a property on Wednesday. This would be our first “purchase to flip” property. It’s great deal at $37 a square foot and in a great neighborhood. It is labeled as a fixer upper but we won’t know the true extent till Wednesday. Based on pictures we already love the property and location and the ideas we have for it. Our problem: We have the ability to finance the purchase. What we struggle with is finding the funding for the remodel itself. Does anyone have any suggestions for us as to how to get the funding through the bank?