All Forum Posts by: Zach Gulbransen

Looking to join a group of people interested in real estate that live in the Minneapolis, MN area.

Sounds like a great idea. Probably saves a lot of time and headaches. I'd be interested to see the form if you wouldn't mind passing it along. Thanks!

@James Hamling a lot of great info to unpack there James! Thanks for sharing. I will definitely look to incorporate these strategies and run the numbers carefully in the apartments that I look at.

@Dominic A. Thanks for playing along and for the valuable feedback! I will definitely take all things into consideration before moving forward.

Thanks for the feedback. The apartment would be a studio size (550 sqft). I have the capital to furnish the place to a high standard that would accommodate people looking to have a higher end experience. 

It would be more of a short term play as the city is a place I would live for 1-2 years max which is why I don’t necessarily want to buy quite yet. 

Hello,

I'm looking to rent an apartment in downtown Minneapolis, MN, and put it in AirBnB. The apartments are exceptional high-end living spaces and are quite expensive to rent. What's the best way to ask the leasing agent or apartment owner if you can AirBnB a unit you rent from them? Do you think this is something they'd be okay with or not so much?

Ideally, I could rent two units in the same complex and live in one and Airbnb on the other. That way I could easily manage the unit that will be listed on AirBnBnB and perform any cleaning/maintenance/ issues that come up. 

Thanks, looking forward to any feedback!

I'm in a little bit of a dilemma. Currently I'm looking to purchase a duplex using owner-occupied financing (FHA 3.5% or conventional 5%). However, both sides of the duplex have leases that go until May of 2022 and it the date is currently (11-12-21). If I wanted to purchase this home to and live in it because I'm using an owner-occupied loan, how would I go about doing so?

The one side, I would like to live in and the other side I would like to rent out. Is this feasible with the current situation at hand or is there really no option with the current tenants having a lease through May of 2022? 

@Andy Eakes in order to Refinance from FHA into a conventional loan for a 2-unit property, do you need to have a certain amount of equity built up in the property before you can do so?

@Andy Eakes Thanks for the insight. Very helpful! If I use an FHA loan, can I use it more than once? If so, what's the process of doing that?

I’m currently looking to purchase a $220,00 duplex for 3.5% down with a partner. In year 1 I will be living there and renting out the 5 other bedrooms to friends of mine. After year 1 I plan on moving out and renting out all 6 bedrooms as a college rental.

My partner will be in charge of the hands on property management as I will be living a few hours away. If I’m on the loan and my partner is not, but he will be doing the property management, how can we structure an agreement that is fair for both parties and keeps both sides protected?

Any feedback would be much appreciated!!