I currently live in a 4-unit in Riverview so let me know if you have any questions about this strategy.Inventory is very low in the Twin Cities and surrounding suburbs so you might have to compete with multiple offers on good properties or get creative to find deals.

You are no longer competing on price, but instead competing on marketing ability.

It's helpful when you're competing against other investors, but not very useful when trying to get an asset manager to accept a low offer.

These two groups are where you will learn the language and be able to meet the players in your industry.

Competence is what they need to see.I remember my very first mortgage I made, the borrower had been turned down so the Realtor was hoping to have a deal.

Also, joining the local landlords association is a great way to find the real players in your area.To your success!

If you don't have POF or a strong preapproval, no competent agent would let their seller accept your offer, at any price, and no bank will even process the paper work if the buyer doesn't have it.

Everyone knows the big hedge funds and institutional players have invaded the large multifamily (100+ units) space and driven CAP rate to all time lows in search of any kind of return.

It's not that easy and the $100 goes quick.If you can afford $300-$400 in adwords and have a defined campaign then you should be able to compete with the larger competitors in your market.

Looked at seven houses today, wrote offers on two, one was a highest and best where they were holding submission for seven days, competing against 12 other offers on that one.Seven offers submitted this week.