All Forum Posts by: Tim Swierczek

Last fall my wife and I purchased our first rental in Red Wing, MN. There seem to be a shortage of houses for sale and rent and it rented quickly with no trouble. We are looking to continue to buy buy it seems like they are difficult to find and expensive to a point that the cash flow is tight.

Alternatively, I have looked at Albert Lea, MN where there is an abundance of houses available but have been told by some the market is dying, or is a tougher neighborhood. But. 3 bed 1 bath house in red wing that I can rent for $1300 goes for $175,000+ and in Albert Lea I can get the same house that can rent for around $1000 for under $100,000. Does anybody have information on the Albert Lea market, or thoughts on which direction it makes sense to go?

For all the reason you mentioned above was one of the reasons that I was looking to invest in the City. The fact that it is very not landlord-friendly does make it a little tricky, but one of the reasons I chose the market was I felt that there would less competition in a pretty solid market. 

Have you done any deals in Minneaoplis? 

Hey everybody! 

Is anybody here investing or has invested in Minneapolis? Or even lives there. 
If so, would love to hear your thoughts on the market. 

Appreciate it. 

@Tim Swierczek same here about list of meet-up. Thanks

The bigger pockets community has been nothing but amazing for me thus far. I have not posted a whole lot but learned so much within the last 1-2 years from listening to podcast, reading books, and posts. For a while I’ve been in the analysis paralysis phase trying to figure out where I should start. I’ve completed the necessary requirements to obtain my real estate license and should be licensed within the next two weeks after everything is filed and processed.

A real estate license is not necessarily a must for someone that wants to invest in real estate, but I felt like it would be a great in for me to be around real estate and to learn the ropes. Along with obtaining my real estate license I’ve been working on increasing my credit score to pursue a house hack within the next few months. I graduate in May and thankfully to my athletic scholarship I will have no college debt to pay off. I 100% plan to get into commercial and multifamily investing in Minnesota then throughout the united Sates but getting there is the difficult part. Part of me feels as though I need to take my time and start with owning a duplex, triplex, or 4-plex while renting out the other units. This is attractive because it’s a slow game where I can use very low money down loans to slowly build wealth. Then eventually show investors what I’ve done at a small scale and ask to use their money to do this at a much bigger scale and give them a return. At the same time, I feel I can even start bigger, because over the years between life and basketball I’ve met some great wealthy individuals that would love nothing more than to help me while I also help them get a great return on their capital. My questions for anyone out there reading this post are do you have any good insights on being an investor friendly agent? Are there any investors in this area looking to get into or that own commercial and multifamily properties that would like to connect? I am also open to just anyone with open insight on where to go from here and hopefully I can add you some value to you as well!

Hi, everyone!

I'm Connor, from Minneapolis and I'm ready to get rolling in Real Estate investing. I have been reading and watching every podcast/video I can get my hands on for several months and have a created a solid foundation of knowledge. BUT this knowledge means nothing without any action…I'm hoping to start making some meaningful business connections and relationships to bring value to and get my REI career pushed forward.

I’m young, full of energy, and ready to learn more. I’d love to connect with those interested - feel free to reach out!

Congrats @Tucker Mortier! I definitely think getting into a duplex in Windom for under 350k is a good buy! I'll be househacking a duplex just up the road from you in the Kingfield neighborhood this next year (moving in soon).

One thing I wanted to remark on from your post about wanting to move into a fourplex. So I've heard that it can be difficult to go up in unit counts when it comes to owner occupied financing (so it's easy to justify moving from a fourplex to a duplex, but not the other way around). When I moved from my first duplex into this next one I justified it to the underwriter by saying it was closer to my work, and I'd be living in a larger unit in a lower crime area. That didn't get any push back, but I wonder if it would have it it was a fourplex I was looking to move into. Anyhow, if there's anyone who can help you get into that next property it's Tim. 

@Tim Swierczek - Is it generally difficult to go up from a duplex to fourplex in a serial house hack situation, or not that hard to convince an underwriter? This question is partially self serving haha, but maybe it will help Tucker too if you guys haven't already discussed it.

Hi everyone, newer to investing and have one single family rental. I’m looking for new/different ways to build momentum in real-estate! So I was wondering if anybody had any referrals for any Hard Money Lenders in the Minneapolis area! Thank you!