All Forum Posts by: Stephen Murdock

Wanted to give everyone that gave me advice a quick update on how my trip ended up going - short story is that is didn't. 

With the massive winter storm we had in the Northeast 1,000+ flights were cancelled last Friday and mine ended up being one of them... I'll try again in April and hope to connect with some of you then! Thanks again for the help.

@Kurt Pauley Thanks for organizing this! I'll definitely be attending any future meetup in the summer.

@Todd Dexheimer Thanks for the detailed advice and making it simple to map everything out while I'm visiting this weekend.  

I read through some of your blog posts and downloaded your podcast for the commute home tonight - I got some great information from the lessons you learned from closing on an out-of-state apartment; especially around the due diligence process and financing. 

Have you found it easier to work with local banks now that you have a syndication under your belt or does that continue to be a challenge?

@Jordan Moorhead Thanks for the advice - suburbs definitely are not out of the question. I'll check out Highland Park when I'm in town this weekend and see about making it up to Golden Valley/ Robbinsdale as well! Based off a quick look, Highland Park seems to fit most of my criteria. 

@Tim Swierczek I appreciate the reality check. I'm used to the Boston market but based on what you're saying a 3-4 plex sounds harder to come by in Mpls than out here. I'll keep an eye on this for now and reevaluate my criteria once I move out this summer.

@Kurt Pauley I'll put those areas on my list as well. I'm coming out there with my SO this time but I'll take you up on getting the beer when I'm out there for work in April!

Quick introduction: I will be moving to the greater Minneapolis area this summer due to a job transfer and wanted to get some local opinions of which areas to check out while I'm visiting this weekend. I'll be working remotely so I'm flexible on the specific area - the only real requirement is that I'm <45 minutes away from the MSP airport. 

I grew up in the Eagan/ Inver Grove Heights area but haven't lived in MN in 10+ years so my current market knowledge is limited. I know the market is hot right now so I'm prepared to spend time finding the right deal - my family has a townhouse in Chanhassen that I'm planning on living while I search for a multi family. 

To get into a little more detail on what I'm looking for: 

• B- area or better
• Within 45 minutes of MSP airport
• Areas with a small town/ neighborhood feel are a big plus
  • Town centers that could be in walking distance are a bigger plus
• Areas with above average school districts are another plus
• 3-4 unit multi family property (small yard and garage are requirements)
• Potential for value add - completely OK with doing a live-in remodel

With that in mind, can anyone suggest a few areas worth exploring this weekend? I'm also open to making some connections with local wholesalers this weekend or next time I'm visiting. 

Thanks in advance for any leads!

@Curtis Moe Thanks for the feedback - one thing I should have mentioned, the GC video is a place holder for now and I'm hoping to have a professional looking interview recorded that gives the website a personal touch and resonates with mom-and-pop sellers.

Your thoughts on MSP align with what I've researched - if I end up getting anything out there soon it would have to be a value add 4-plex to hopefully insulate myself from any potential devaluation.

Awesome to hear you're looking at Upstate as well, I'm familiar with the Elmira/ Horseheads area which is right next to Steuben County - just send you a request as I'd love to hear how that part of CNY works for you!

@Victor Steffen I ended up using GoDaddy's GoCentral builder - for what I wanted it seems OK and was easy to work and set up. The only downside is that it's not very flexible. I wanted to add a 2nd form for getting additional property details like Danny Johnson mentioned in episode #144 but its not possible in this format.

Shawn and Grant - I appreciate the advice on getting started with direct mailers - I really like the idea of a cheap postcard for the first mailing while I refine my list!

@Michael Tempel I definitely will do! I may be planning a trip out there in the next couple of weeks and I'll reach out then. I'd love to connect and get your opinion of which areas to look into.

Hello to all! I have been lurking on Bigger Pockets for sometime now and have finally committed to taking action on my goals for 2018 (mainly, purchase a 10+ unit apartment building) so I figured it would be best to introduce myself the the BP community and start networking. 

A little about me: I'm currently based in Boston where I'm a Business Development manager for a SaaS company serving the energy industry. I started out buying and selling cars in 2006 and expanded into reselling equipment purchased at business liquidation actions after the market dropped. While this allowed me to self-fund my education, it didn't provide me with the passive income stream necessary to exit the 'rat race' which is why I'm here today. I'll be relocating to Minnesota this summer and grew up in Central NY (Utica area) so these are my two areas of focus currently.

There's an overwhelming amount of information on this forum about different strategies but I've decided on direct mail marketing to apartment owners in Oneida County, NY as my primary focus. I've recently put together a website for this and would appreciate any feedback on the content or flow!

I'm also in the process of finalizing my list for my first mailing so if anyone can point me to content or mailers that would resonate with mom-and-pop apartment owners, or any REIAs in Utica or Minneapolis, I would definitely appreciate it!

So here I am, my name is Stephen Murdock and I am an aspiring buy and hold investor. Hello to all!