All Forum Posts by: Tim Swierczek

Hello! My husband and I are beginning the stages of learning about real estate. We are preparing our house to turn it into a long term rental unit and plan to house hack a duplex or fourplex (along with our 4 kids 😜). We are unsure of which market we want to invest in yet and are in the research phase and learning how to calculate good properties. We are open to other ideas!

@James Hamling Thank you for your reply.

There are not that many multi families in Shakopee from what  I saw. 

My main concern here is that you have to go down 7 stairs to be in the main living area (living room/kitchen), the main window is a little bit small. 

I would have a positive cash flow with the price they are asking for ($350,000/ was originally priced at $400,000). I am just worried if it would be difficult to sell it in the future if needed with the split level situation.

Hi! I'm a little new to real estate.  I am interested in diversifying my investments away from public equities markets and am learning about a variety of real estate investment opportunities.  I am based in Minnesota and also have connections in Louisiana.  I am looking forward to making connections on the forum.  Thank you!

How are your building plans protected for new construction when shopping around for quotes from General Contractors? I'm currently in the process of building 2 new SFH in the Houston suburbs. We've been met with a few hurdles; one being staying on budget. My current GC has quoted me roughly 10$ over his original price per sqft from when discussions first began. He suggested shopping around with other GC's to see if they could beat the numbers he was getting. I have another GC in mind from a friend who is also an investor. This other GC of course needs to see the full set of plans to give me an accurate quote. I'm concerned now and for the future loosely sharing plans that have costed me and my partners a good amount of money. Does my LLC name being attached to the plans protect them from being utilized by other builders/investors/Contractors? Am I overthinking this?

@Tim Swierczek

Thanks for the advice Tim! I’ll try and keep things simple in my business, that’s how I like them anyway haha! Since Minnesota allows security deposits in the same account as rental income (as far as I’m aware), I’ll most likely just have one account per property. 

Is Minneapolis a good place to invest in rentals ?

Recommendations for legal counsel specialized in RE transactions? Financing fell through due to loss of job mid-transaction. Financing contingency in PA is checked and clearly states EM to be returned to Buyer. EM was sent to Seller broker's trust fund (eXp). Seller refuses to sign cancellation agreement. Served Notice of Declaratory Cancellation via service of process company to the address as stated in the PA. Seller no longer physically resides at the address. Seller's daughter currently lives at the address and was served. Affidavit of service provided by Server and was shared with eXp. Seller claims they never were served and Seller broker is not releasing based on Seller's word including saying they are seeking legal counsel (they have been seeking legal counsel since December). eXp MN state broker team has been unresponsive and very unhelpful throughout the process. Very slow to communicate, having to send multiple emails and voicemails without any response. When finally chased down to giving response, eXp broker is very evasive and pretending to not have been kept in the loop despite being copied on every email, texted and voicemailed to their personal phone. Looking for a lawyer to sue both Seller and Broker.

To be more clear, I just can’t edit my initial post. Had I been able to do that it wouldn’t read like I was trying to do something illegal.

I have my own down payment sorted out (now), but when I made the post I didn’t have that and was offering a 50/50 partnership with anyone willing to help. Doing ANYTHING illegal is not and was not my intention. 

As of now I will be using my own money for my down payment and bank money for the rest and i will not be accepting any partnerships whatsoever.