Here’s the Rundown for today:

📕 Read: 3 badass RE questions from our subscribers - Q&A Session

🎙 Listen/Watch: Fargo Multi-family inventory, what to find your next BRRR, & ROI on finishing my basement

We Asked, You Answered

First things first,

BIG THANKS to our subscribers Patrick, Adam, & Justin for bringing the 🔥 with some great question for this week!

**Also, I threw these questions into the world of X (Twitter…thanks Elon).

Q:

 A:

2020 & 2021 refinances were awesome, but….all these 5 year adjustment rate mortgages are coming due. SO my quick answer is INCREASE CASHFLOW!!!

If you haven’t made a plan to decrease your expenses or increase the income from your property yet….take it Bill👇

Q:

A:

Fargo/Moorhead isn’t ripe for distressed property. You guys, even if I am seeing busted up houses, they are still getting priced up quite a bit, we’re just not that market.

My suggestion for knocking out your next BRRRR:

• Find distressed sellers, not distressed properties. Foreclosure #’s have been climbing since 2021.

• Crank up the Cashflow #s on a multi-fam. It’s like a BRRRR without picking up a hammer.

EXAMPLE: $450,000 5-plex with NOI of $32,000 per year. Move that to $37,000 per year….value jumps to $520,000.

Q:

A:

Don’t shoot the messenger here, but if you just added a fence to your yard, planted $4000 in foliage, bought blinds for your whole house, and installed a fireplace with ship-lap….your house value didn’t go up the $37,000 that it all cost you 😫😫

BUT!

Your house DID become much more attractive and "Sell-able" in comparison to the other homes on the block that don't have those upgrades.

Now taking a $475,000 2-story home and finishing the basement (which adds a bedroom and a bathroom to the stat line). THAT $50,000 check you wrote probably does move your price into the $525,000 range. Finished space + stats is where the money is peeps. 😎

CONCLUSION:

Here’s the down-low gang":

• Increase that cashflow so interest rates don’t hurt you.

• Start getting foreclosure listings from your trusted RE agent.

• Finish that basement but only add that fireplace & $30K bar if it’s for YOU. 👌

The Midwest Invest Report LIVE 🎙

Fargo Multi-family inventory, what to find your next BRRR, & ROI on finishing my basement

🗞 Things we like….

If you love tracking your goals…

As I mentioned in this week’s podcast (and showed on the video), I’m loving this new journal for goal tracking: Darren Hardy’s Live your Best Year Ever.

If you’re looking for a 16-plex…

On the show, this week’s market minute showed a 16-plex in N Fargo that’s still available. Reach out if you want to go see the place. Fargo 16-Plex.

If you want to get into a home for less than 3%…

Definitely ask your lender about this loan programs ND is offering. A few buyers are getting in for less than $1000 out of pocket. It’s real. ND Housing Proga

YOUTUBE

Using RUBS to Improve Cashflow - Ration Utility Billing System

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