The Average Minnesota Homeowner Gained More Than $27K in Equity over the Past Year

If you’re a current homeowner, you should know your net worth just got a big boost. It comes in the form of rising home equity. Equity is the current value of your home minus what you owe on the loan. Today, you’re building that equity far faster than you may expect – and this gain is great news for you.

Here’s how it happened. Home values are on the rise thanks to low housing supply and high buyer demand. Basically, there aren’t enough homes available to meet this high buyer interest,  so bidding wars are driving home prices up. When you own a home, the rising prices mean your home is worth more in today’s market. And as home values climb, your equity does too.…

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UNDERSTANDING THE TAX BENEFITS OF PASSIVE INVESTING


Disclaimer: We are not tax professionals. Do not construe this blog as tax or legal advice. You should speak to your tax and legal professionals about your unique situation before making any decisions that could affect your financial future.


Cash flow is amazing, but things get even better when we factor in the tax benefits. A couple quick takes on taxes.

First, the government doesn’t want you overpaying. The purpose of the tax code is to outline all the ways to reduce your taxable liability. Seeking to legally reduce how much you pay in taxes isn’t shady or illegal, it’s smart, and it’s exactly what all the wealthiest people (including our legislative representatives) utilize to keep…

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Single-Family VS Multifamily Investing Podcast

We've got another showdown this week! Are you ready to watch the big fight this Saturday?

Single-Family investing VS Multifamily Investing!

I know, I know... we're biased. We do love our multifamily investing! But in this episode, we really tried our best to give Single-Family investing a fair shot.

Dan and I go back into the ring, in one corner: Single-Family Investing. And in the other corner: Multifamily Investing.

How are they different, what are the pros and cons of each?

We will talk about these things…and more in another episode of Multifamily Investing Made Simple

 Listen on Apple Podcasts 

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The #1 Reason To Sell Your House Today


Almost every industry is currently struggling with supply chain disruptions. This also applies to the current U.S. housing market, where buyer demand far exceeds housing supply.

Purchaser demand is very strong right now. The National Association of Realtors (NAR) just released their latest Existing Home Sales Report which reveals that sales surged in January. Existing home sales rose to a seasonally adjusted annual rate of 6.5 million – an increase of 6.7% from the prior month, with sales up in all regions. However, there’s one big challenge.



INVENTORY IS AT AN ALL-TIME LOW

Because purchaser demand is so high, the market is running out of available homes for sale. The above-mentioned report states…

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4 Simple Graphs Showing Why This Is Not a Housing Bubble

A recent survey revealed that many consumers believe there’s a housing bubble beginning to form. That feeling is understandable, as year-over-year home price appreciation is still in the double digits. However, this market is very different than it was during the housing crash 15 years ago. Here are four key reasons why today is nothing like the last time.

1. Houses Are Not Unaffordable Like They Were During the Housing Boom

The affordability formula has three components: the price of the home, wages earned by the purchaser, and the mortgage rate available at the time. Conventional lending standards say a purchaser should not spend more than 28% of their gross income on their mortgage…

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An eight-unit apartment on the corner of 27th and Garfield—very close to our four-unit and six-unit apartments.

The property may not be much to look at right now—our debt partner even said the property looked like a shoe box—but in just a few months, this property is going to be TOTALLY transformed!

Emily and I take great pride and care in the finish level for our renovated apartments, and the building’s exterior and common spaces are no exception. Offering a well-marketed, managed and maintained building are a few of our value propositions to prospective residents. Stay tuned over the coming months to see this building take on a whole new identity!

This purchase will bring our unit count to 20 units in less than two years since getting started.…

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GYMS

Going into a new year, I want to make my mental and physical well-being a top priority. The older (and wiser) I get, I notice that when my mind and body are right, everything else falls into place. A sense of community is also a critical component of my overall health.


Having access to a gym is very important to me and can also be a key criterion in the home-searching process. I’ve talked to a handful of buyers who say that close proximity to a local gym is a “must have” when purchasing a home. I can relate. Having my gym within walking distance holds me accountable, because I see it—and I see people getting after it—which motivates me to get off my tail and get to work!


If access/close proximity to a local gym or studio is just as…

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Consumers Agree: It’s a Good Time To Sell

In today’s sellers’ market, many homeowners are weighing their options and trying to decide if they should sell their house. If you’re in that group, you may be balancing things like the ongoing health crisis, rising mortgage rates, and your own changing needs to determine your best time to make a move.

However, recent data shows that time may already be here. According to the latest Home Purchase Sentiment Index (HPSI) by Fannie Mae, 76% of consumers believe now is a good time to sell.

Looking back over the past few years, its clear consumers are incredibly optimistic today. The graph below shows the percent of survey respondents who say it’s a good time to sell a house, and their positive outlook is…

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DOGGY DAYCARE

OK, let’s be honest for a second—If you’re the owner of a fur baby (or multiple fur babies), most of your day-to-day activities revolve around them. If you ask my guys, Tito and Leo, they’d confirm that it’s their world and I just live in it (which I’m not ashamed to agree).


When it comes to purchasing a home, I’m sure you’re not shocked to know that most buyers consider how well the property is suited to their dog’s needs. Will they like it? Is there enough room for them? Does it have a backyard and is it fenced? Is there a dog park nearby? They’re great questions to ask and much appreciated by our little princesses and princes.


And our loyal companions need to socialize just as much as we do! Tito and Leo are very…

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I was having a conversation with another realtor the other day, and they said something that truly haunted me.

It made my skin crawl…

I started to feel a bead of cold sweat running down my temple…

And I had the distinct urge to throw my hands up to the sky and curse the gods!

What was the topic of conversation, you ask?

TAXES!

This 1099 employee of a real estate brokerage was going to have to pay $75,000 in taxes from commission garnered in 2021! That is INSANE!

As a licensed realtor, and a 1099 employee of our brokerages, we’re required to personally save a chunk of each commission check and then when tax season comes around the corner, depending on which tax bracket we fall into, we’ll have to pay a portion of these checks to…

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