All Forum Posts by: Trevor Lofstedt

Hey BP Community. 

I've got a unique situation that I am looking for some expertise on. I recently (about 5 months ago) bought a duplex with one of my best friends, we are currently living in the upper unit renting out the bottom. We got a great rate on a 30 year FHA loan. I'm now looking to get my second property, but won't have enough to put down 20% for a conventional loan. Are there any strategies that I can use to be able to get a second property with only having about 15k to play with?

Any ideas help, Thanks!

@Bruce Runn

Great to hear about the booming Uptown market. I think you can count both @Matt Zimmerman and myself in for the meeting at the new location, that would be a great time to pick your brain, as well as network with other local investors! 

@Nick G. Thank you very much, that was great advice!

Thanks guys. Our target demographic we intend to rent to are the fresh out of college young professionals. The bathroom is very small, any idea on where to start for the upgrade process in the bathroom? 

Hello Bigger Pockets community,

My college roommate and I about to close on our first investment property! We got a good deal on a duplex in a growing neighborhood in Minneapolis, MN. We plan on living in one unit, while renting out the other. My question for you guys is where do you recommend making updates to a house built in 1908 to increase the cost of rent we can charge in the future?

I would like to put in new wood floors, but I have heard people are starting to just refinish the original wooden floors?

What other projects would you recommend for increasing the overall rental value of the unit?

All suggestions will help. Thank you!!

I am buying a duplex, I plan on living in the bottom unit while renting out the top unit. This is my first property and I feel extremely unprepared, I was just told I need to go get a rental license. Before I list the unit for rent what other steps need to take place once I close, before I can rent it? Any advice will help!

Thanks,