All Forum Posts by: Puja Shah

@James Hamling wow, thank you for the detailed answer. Super helpful. Also Agree that twin cities is over bought but with me Having a 9-5 job and real estate not being the primary job as yet- I need to focus on properties that are close to work/ home. 

@Bruce Runn good point and great insights as usual. I have decided to hold onto it, until it becomes a problem child. 

@David Barnett thank you for that. definitely something to account for. 

@Roy Muller yes the 3.5% 30yr fixed was is 2013

Hi all, 

I needed up paying my 2013, 30y fixed 500k mortgage At 3.5% early and now have 160k left on it. Should I refinance the 160k considering the current rates? Or once I add up the closing cost etc- I will have no benefits.

In hindsight I shouldn’t have paid off the mortgage and used it for other investments but it’s done and now I like the idea of my home being out of harms way. So don’t want to pull out money from what I have already paid off.

Thank you for any insights in advance!

Will the cost of agent fees, listing, closing cost etc make it a pointless excercise.

It’s a fully paid 270k condo that generates 1750$/month and has a 500$ association fee. 
great neighborhood around losing park in Minneapolis. Could probably make the rent 1850.

Should I sell and buy a better rental property which generates better i returns? Any thoughts or tips appreciated. 

Hi all, I am just starting out on BP and would like get a second rental property. I have 1 rental condo in downtown Minneapolis and am ready to get my second one.

Which kind of property has the most work involved? Sfh vs condo vs town home vs duplex?

What type of property yields the most income?

Are there Fav agents in Minneapolis that specialize in rental properties?

where can I find existing rentals on sale so I know exactly how much I will be putting in and what I will get out of it?

What criteria is everyone else looking at in rentals? School district? College area? Low property tax? Etc

@Brian Loibl @Tim Swierczek, I am also a newbie to BP and real estate. I have a condo in downtown that I rent and would like to get another property. I would love for this one to be a duplex or 2 bedroom house in south Minneapolis. Do you like an agent that can help me find a property? 
also I have a million questions like how much loan can you get approved for a rental/ is it same as your regular mortgage/ good agent/ duplex vs sfh vs condo etc. Is posting here the best way to get answers. 

Hi all, I am a newbie to BP. I Became a landlord by accident when we had to turn our condo into a rental due to aN out of state move. We have a primary residence on which we owe 160k and the rental condo is fully paid off. I would like to get another condo but not sure where to find rental properties that are for sale. 

Investment Info:

Condo buy & hold investment in Minneapolis.

Purchase price: $270,000
Cash invested: $270,000

my first accidental investment.
1 bedroom 1 bath rental in a condo building
Stays occupied 100% of the time. The Association is pretty high

What made you interested in investing in this type of deal?

It was an accident. We bought it as a primary residence. In the 2008 crash had to move out of state and the prices were under water. So held on.

How did you find this deal and how did you negotiate it?

Bought the unit under construction.

How did you finance this deal?

20% down and the rest on Loan. slowly paid it off.

How did you add value to the deal?

Na

What was the outcome?

Has been rented 100% of the time at 1750 a month

Lessons learned? Challenges?

Single bedroom rent easier than 2 bedrooms.
Would be better if I didn’t have to pay high association fees or high property taxes.
Location is key.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Na