All Forum Posts by: Shane Farmer

Thank you. It's helpful to think about it this way. Ensuring that we build trust around the relationship definitely seems more important. Current numbers roughly work out to $450/mos cash flow and 6% CoC ROI.

 We bought it back in October for $300k. The places are in Southern Minnesota, close enough to the cities that you get commuters and in a nice pocket community that has seen good growth and stays alive thanks to a couple colleges, which it seems would be feeders for the tenants in these places.

We're currently in the market looking at small multi's and we've come across a seller who has two duplexes listed. We've confirmed that they're open to considering a package deal for the two properties. We own the most recent and comparable comp on the market and got it for $25k less than what each of the properties is listed for. I'd love to know how to approach negotiating two properties at once, what we should be thinking about, how to make it appealing to them while being profitable for us etc.?

Additional info: We know they have several more properties in town so I want this to be a winning deal for everyone so that we'd be considered a go-to when they decide to list the others. 

We have purchased our first rental property in Minnesota but we live in California so I’m in need of referrals.

Please recommend to us an (1) Insurance Broker and (2) a home warranty company that other investors are happy with in Minnesota.

Please send me your mortgage brokers or lendsd recommendations in Minnesota. Thank you!

@Christina Labowicz

I’d love this information too please!

@Theresa Harris

Purely out of curiosity, where do you find homes for $30k? $200k is a down payment where we live. Thanks!

@Dillon Dale that would be wonderful! I'm really trying to build my contact and knowledge base back in MN now as we begin this process. I moved after I graduated HS so it's been a while since I've been able to get my finger on the pulse of the area.

@Tyler Putrah wow, no kidding it's a small world! Yes, I'd love to jump on a call. Thank you for the offer. I'll accept the invite and we can connect from there.

Shane

@Noah Chappell Thank you. We're starting with family but fully invested in building out a team. It's just a way to get our feet under us as we start on our journey. We're not locked in to any area in particular so if there are areas where we could be finding 1% deals then we're open to it.