All Forum Posts by: Todd Solberg

Hi Matt,

I'm interested on properties you have available. Jessica and I know each other from the REI group down here. I have some time next week to meet if you're interested.

Thanks!

I'll PM you.

Hi Lee! 

I live in the Rochester area and looking at Multi's.  I cant speak for hotel management but good property management is Infinity (John Espy), perhaps Matik Management  (heard mixed reviews).  Another is Velair property management, smaller and don't know their track record or portfolio. OH, one more is Jacobson Property Management...heard good things about them. 

http://www.jonespy.com/

http://www.matikmanagement.com/

https://www.5075360000.com/

https://www.velairmanagement.com/

Heather Barness is in Rochester

Good luck!! 

@Julius Johnson actual sales based on like property. Bedroom baths, level of finish, garage, etc. If no like properties then will look in a larger radius area and/ or have to take a comp that is close and adjust a bit.

Hi Ryan and Ashely, welcome to BP! I'm in the area and at a similar stage. Happy to meet up for coffee and just take REI! Take care!

@Peace Lily There is no mileage rule. That's up to your lender...but if you commute is unreasonable then you may qualify. https://www.google.com/url?sa=t&source=web&rct=j&url=https://www.hud.gov/sites/documents/4155-1_4_SECB.PDF&ved=2ahUKEwiT3qDuo-ndAhVOAqwKHbRzCoEQFjAOegQICRAB&usg=AOvVaw0k4vT23q4WHxiAuEL8bPVz Hud.gov. 4155 chapter 4 section B T.

Not only the mortgage rate but what is the APR in comparison? 6.146 is what you listed. From my understanding this is the rate when considering all associated costs correct? Is the APR dependent on if you pay out of pocket for closing costs, etc? Apples to apples it may help get a good comparison on a long term buy and hold. Does APR ever play a factor? Thx!

I can't quite find the answer I'm looking for, I hope you can help. I built a house about a year ago and after some discovery on cost segregation and depreciation of various assets I got thinking. Is their more benefit in buying a home with LLC and then taking the depreciation of each individual asset at a different rate. (i.e.: flooring, cabinets, electric, lights?) So, using cost segregation accelerating the depreciation on the home....would that out weigh the homestead deduction for, say, a 10-15 year period? I would then rent the home from the LLC for 10-15 years and at the end the LLC would 1031 exchange into something else. What am I missing here? Thanks!

If you save a dollar, you earned a whole dollar. If you earned a dollar, you only earned .75 cents. 

That said, house hack first! Duplex/triplex if you can as you can rent on side out while you fix up the side you're living in....then move to the other side when the lease is up and repeat. Instant equity and gained cash flow when you rent the brand new side. 

Get your living costs low asap. Hence, the house hack first. Then wait a year and consider buying another place....repeat. 

I'm not sure what you typically do with your contractors/subs but I have them submit a quote to me and then I have them sign a lien release with any payment to them (including any down payment upfront.)  Is this how many of you are doing it?   (sorry, I don't have any contacts that far west if the twin cities.)