All Forum Posts by: Tyler Stindtman

I am looking for any recommendations for a good CPA that understands real estate.  Looking for someone in south central Minnesota, preferably around the Mankato area.  Looking for someone that can help me out with my taxes for next year. 

Thank You.  

Hi everyone. I am currently under contract for a LTR in Gary.  I was wondering if anyone had a good recommendation for an insurance company. Thanks 

Still looking for an answer

@Jonathan Greene it's mainly a college town with a lot of potential renters between the many different colleges and hospitals and clinics. Many people other than just college kids come to town for 5 years or less as they are getting started in their careers. Some parts of town don't allow renting, other parts only allow 2 unrelated people to live in a rental, some parts its 5 unrelated, some parts it doesn't matter. Some parts of town only give out a certain % of rental liscences. Some house already have a rental license to go with the property and some don't.

As far as why I want to start here is because I work in the town and also live near by. Along with that I want to use the BRRRR method which will be wayyyy easier to do if I buy here. I will hope to find something that I will be able to purchase and rehab for 75-85% ARV. Which shouldn't be too hard to do if I get an agent that has can find foreclosures, cause there is usually a handful at any given time.

I will be purchasing with a loan using 20-25% as a down payment looking for a house around 90-100k that needs about 20k worth of work. Then do a cash out refi once I can.

@Russell Brazil there doesn't appear to be any in my area. Which is why I decided to ask the question. Kind of in a tough spot.

I'm new to real estate investing and am going to be searching for a real estate agent.  The market I will be looking to buy in has a lot of special rules for renting out property with parts of the city having different rules than other parts.  The market also has low inventory currently and houses aren't on the market long.  Long story short, I am wondering if it is more important to find a rock star realtor that has been in the game for a while and has a lot of sales under their belt, or do I go with an agent that is also an investor in the area and knows the rules but doesn't have many sales under their belt?  I realize it would be best to find one that has both of these characteristics, but I want to hear peoples opinion on what they feel is more important.  Thank You

@Collin Lee Johnson I'm also new to real estate investing trying to learn before I dive in. I have been around the Kato area for 15 years. I had a couple questions for you based on your analysis.

First: I see you had a bunch of expenses for utilities. Do you feel that you would have to pay for these instead of making the tenant pay for them?

Second: On your variable expense I see you used 10% on the maintenance and cap ex and 8% on your vacancy rate. Is there a particular reason why you have these so high in regards to mankato?

@Chris Clothier Thank You so much for the detailed response.  This will help tremendously.

I am new to real estate investing, as in I currently don't have any investment properties.  I am looking to purchase an investment property potentially through a turnkey investment company.  I have scheduled phone calls with like 6 different companies.  I was wondering if there is certain questions that I should be asking them to help me better decide which company to go with. A little background on myself.  My wife and I are both in our early 30's with a 20-month-old and both work full time jobs.  We currently have about 50K in equity on our forever home.  I have invested in stocks for many years but am looking to get into rental real estate properties.  

Thanks in advance for the advice. 

I am new to both BP and real estate renting. I am looking to purchase my first rental property in or around the Mankato, MN area. I would like to invest using the BRRRR method with a goal of purchasing 2 properties a year starting out. I was wondering if anyone from the area could help me with a few things. I am looking for suggestions for both general rehab contractors and property managers. Because I am hoping to use the BRRRR method, I would like to get a list of some good contractors that understand the concept and purpose of BRRRR. I do a lot of DIY remodeling on my own home, but I have a full time job and would rather sit back and let someone else do the work for once.

Also, I am going to be in need of a good solid property manager.  I am looking for a manager that is dedicated to filling vacancies with good tenants quickly and someone that will handle the phone calls from the tenants.  I would also like a property manager that takes care of minor maintenance issues, along with helping line up contractors for major maintenance items. 

Any help would be very appreciated.  Thank You.