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All Forum Posts by: Steven Pool

Steven Pool has started 6 posts and replied 44 times.

Post: Intro: Newbie Investor in Duluth, MN

Steven PoolPosted
  • Superior, WI
  • Posts 45
  • Votes 30

Congrats for jumping in to real estate investing up here in the twin ports! House having and coupled with STR is a great strategy in Duluth. Before Covid we used to do monthly meetups at Heirloom, co-hosted by both Steven Potter and Michael Schaefer.

Mike would be a good resource to reach out to on the STR front and they can also help you with finding a property that would work for you.

personally I own properties in Superior and haven't made any investments over the bridge.

@Kim Rose

I would reach out to @Michael Schraepfer about how successful vacation rentals and what the permitting process is for the area!

Post: Good plumber in Duluth, MN

Steven PoolPosted
  • Superior, WI
  • Posts 45
  • Votes 30

@Corey Robert Leet

I've used a couple different plumber's up here but none that I would recommend right now. Sorry! There's definitely a shortage of reliable contractors up here!

@Sam Torvinen Congrats on the deal! I'm glad it worked out with low money down. I thinkg its a good idea to look into a HELOC right now too!

Post: No (Very Low) Money Down SF Rental Purchase

Steven PoolPosted
  • Superior, WI
  • Posts 45
  • Votes 30
Originally posted by @Kevin Mosier:

Nice work, Sam. Looking forward to hearing about how it all turns out.

I'm curious about the refi you mentioned. Do you have to refi out within the first year?

 The one time I did a construction loan, after the one year was up the loan would roll into a standard mortgage, I ended up refinancing with a different bank though.

Post: No (Very Low) Money Down SF Rental Purchase

Steven PoolPosted
  • Superior, WI
  • Posts 45
  • Votes 30

Well done Sam!  Good luck with the rehab!

Unfortunately I'll be in the cities tomorrow for work, but tomorrow's event looks to be a really good one so have fun!

Originally posted by @Kevin Kalligher:

When are you guys planning to do another one of these? I've been wanting get one started for a while now. Since you've got one up and running I'd definitely be down to participate/help out.

Thanks,

Kevin

 Hi Kevin, the next one is tomorrow, here's the URL:

https://www.biggerpockets.com/...

@Mindy Jensen Sorry it didn't work out for you with the deal! In the future, most counties in WI have online GIS websites that you can search the property address and pull up all the information that the county has on it which will have the legal description. But, like @Jacci Konkle said though it's safer to have the title company do a quick search. The title company I work with doesn't charge me anything if I just want to know if there are any liens on it. Best of luck next time!

Post: College House in Duluth

Steven PoolPosted
  • Superior, WI
  • Posts 45
  • Votes 30

@Matt J. Congratulations! that sounds like a solid deal!