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Blog Details for "Minnesota Investment Property Blog"
Minnesota Investment Property BlogMinnesota Investment Property BlogHow to find, buy, own, and manage investment properties in Minnesota. Articles
7 Questions to Ask Your Realtor About Investment Property
2008-03-27 04:33:00 I have always preached that if you are going to buy investment property, you must work with a real estate agent and a mortgage broker that both own and specialize in investment property. Chris over at Kansas City Real Estate Investing had a short but great set of questions that all new real estate investors ... More About: Questions , Property , Investment , Investment Property , Realtor
Power Lease Clauses for your Investment Property
2008-03-25 05:16:00 Landlords: When is the last time that your read your lease from start to finish? Do you really agree with and enforce everything that is on your rental lease? Did you download your lease from the internet when you bought your first investment property and have never looked back? Here are ... More About: Power , Property , Investment , Investment Property , Lease
Stupid Property Repairs
2008-03-24 04:51:00 I have always preached that if you are going to do a repair on your investment property, do it correctly. You don’t need to put in top notch materials, but do it right. When you skimp and try to get by with a cheap repair, you are always going to be back a ... More About: Property , Stupid
Stupid Property Repairs
2008-03-24 04:51:00 I have always preached that if you are going to do a repair on your investment property, do it correctly. You don’t need to put in top notch materials, but do it right. When you skimp and try to get by with a cheap repair, you are always going to be back a ... More About: Property , Stupid
Evicting Your Tenant, More Thoughts
2008-03-22 15:21:00 One of the most popular investment property topics is probably tenant evictions. I wrote a long explanation about Minnesota tenant evictions in October 2007 and I thought I would add a few additional comments. Once the eviction process has started, do not accept any partial payment from the tenant. Doing so can stop the ... More About: Thoughts , Tenants
Prepping to Sell your Investment Property-Revisited
2008-03-21 04:53:00 I believe that most real estate investors are probably more excited about the day they will sell their investment property, than the day they buy it! I first wrote about this topic back in August 2007. After seeing about 500 more properties since then, I thought I would revisit my original prepping to ... More About: Property , Investment , Investment Property , Sell
Paying Interest on your Investment Property Security Deposits
2008-03-14 23:15:00 I hope I am “preaching to the choir” when I remind everyone that in Minnesota, you must pay your tenant interest on the security deposit they have on file with you, when they move out. As a landlord, you must return a tenant’s security deposit plus interest or give a written explanation why the ... More About: Security , Property , Investment , Investment Property , Interest
7 Ways to Generate More Income from Single Family Investment Properties
2008-03-12 22:00:00 Single Family houses make great additions to your Minnesota investment real estate portfolios. They are stable, good income producing properties. The tenants tend to be longer term and the buildings tend to have less management requirements. Unfortunately, they can also leave very little opportunity to improve your cash flow. Here are ... More About: Investment , Income , Single , Properties
Buy the Short Sale or Wait for the Foreclosure?
2008-03-10 16:46:00 If you are a real estate investor in this market, it is almost certain that you will be looking at houses that are “short sales” and properties that have been foreclosed on (also called REO or bank-owned properties). When working with customers, I often get the question: “Do you get a better deal with ... More About: Sale , Foreclosure , Short , Wait
Minnesota Real Estate Investing 101 Seminar
2008-03-06 05:12:00 I am excited that we will be hosting a Real Estate Investing 101 Seminar on Wednesday, March 26, 6:30-8:00pm in Burnsville. This seminar will be a one and a half hour presentation in regards to wealth building through real estate. There is no charge at all, no contracts you sign with us, no consultation ... More About: Real Estate , Minnesota , Real Estate Investing
Anatomy of a North Minneapolis Rehab
2008-03-02 18:06:00 Just like other areas of the country, Minneapolis has been hit hard by foreclosures. In my opinion, North Minneapolis has been hit worse than other areas with some streets having 5-10 REO properties on them. This situation has created a unique opportunity for real estate investors to profit from this glut of REO properties. Most investors are buying low, fixing up the property and unlike a traditional flip: renting it out, and expecting to wait 3-5 years to cash out. More About: Rehab , Anatomy
Minneapolis Rental Property Owners Workshop
2008-02-29 04:58:00 I have attended this event in the past and it is fantastic for any new landlord in Minneapolis . It is a great place to meet the Minneapolis Police, inspectors, and other Minneapolis landlords and talk about any issues your are having with your investment property, your tenants or neighbors. Community Crime Prevention/SAFE of the Minneapolis ... More About: Rental , Property , Workshop , Owners
Allowing Tenants to Paint
2008-02-25 16:55:00 I see this happen to new landlords often. A tenant moves in and asks if they can paint a room or wall. Unfortunately, the new landlord agrees and 90% of the time, the tenant does a terrible job or choses a bad color. Now you are in a tough spot. Legally, ... More About: Paint , Tenants
The Secret for Getting Future Tenants to Call-Even when you are NOT adverti
2008-02-22 05:39:00 I have not been advertising for an open apartment for about 30 days. Despite this, I have received 3 calls in the last 2 days from people looking for apartments. These prospective tenants are calling me because one of my current (and even former) tenants recommended me. They say that I am ... More About: Future , The Secret , Secret , Call , Tenants
Next Investor Club Meeting
2008-02-18 21:01:00 Our investor club was started about 18 months ago under the believe that as real estate investors, we could all benefit from knowing other people in the business. We have at least one keynote speaker per event to do investor training, which has included topics such as: rent collection, evictions, flipping, property management, ... More About: Investor , Club , Meeting
Buying MN Investment Property with Cash Flow, Another Thought
2008-02-18 05:47:00 In December, I wrote about how I was surprised that anyone would consider buying an investment property with little or negative cash flow. I think new investors make the mistake of assuming that your cash flow is simply your rent minus your mortgage payment. Let’s take a step back and make sure we ... More About: Buying , Property , Investment , Investment Property , Thought
Minnesota Wholesalers put me on your List!
2008-02-15 07:00:00 I have spoken to several new real estate investors in the last couple weeks that have decided to get into wholesaling properties. This is a fast moving and exciting part of the real estate business. Unfortunately, it seems that most new wholesalers concentrate on finding the distressed properties to buy, first. Then ... More About: Minnesota , List
The Best Investment Property Holding Entity is the LLC
2008-02-12 05:02:00 It is amazing how often I am asked by people starting in real estate investment: “What type of corporate structure is best for owning investment property“. I hear that question more often that I am asked how to find tenants or how to finance the property. Here is some information that I ... More About: Property , Investment , Investment Property , Holding
Tenant Screening Checklist
2008-02-11 03:22:00 Connie Brzowski guest writes an excellent post, on BiggerPockets Blog, outlining a tenant screening checklist/scoring system. It is simple, but effective as it screens each tenant by the same standards. There is very little room for someone to claim discrimination. I would argue that it also keeps you and I from bending or breaking our own rules because the prospective tenant was nice, had a great sob story, or appears to be well intentioned. More About: Leasing , Tenants , Screening
Reduce Your Past Due Rent
2008-02-06 05:03:00 Every December, I see the past due rent amounts on my investment properties increase. Tenants will call and say that they are going to be short for some reason or another. The honest ones tell me they are going to be paying only part of the rent as they need the rest for ... More About: Past , Reduce , Rent
Minneapolis Investment Property Slumlord
2008-02-04 03:41:00 When I get asked what I do for a living I tell people that I am a real estate agent and I own Investment Property . Probably 50% of the time the listener (trying to be funny), makes some joke about me being a “slumlord”. Truthfully, I can’t stand that term. I believe I ... More About: Investment Property , Minneapolis
Landlord Max Rental Property Software Eval
2008-01-30 14:00:00 You may have read the Carnival of Real Estate where Trevor Mauch reviewed Quicken Rental Property software. Well, Trevor has done it again. Where the Quicken product is for users with smaller real estate investment, Landlord Max is designed for users with more than 20 investment property units. The cost of this product ... More About: Software
Minneapolis List of Boarded/Condemned Properties
2008-01-28 14:00:00 Within the last several months, most customers that I am working with are looking to buy foreclosed houses, rehab them, and then rent them out for a nice cash flow. They are then waiting for the day when they can sell them for a nice profit (as they own them after rehab at 75% LTV). I wrote about flipping houses in the $30-50k price range in Minneapolis several months ago, but there continues to be outstanding deals to be found in this niche. When we find a house that we may want to make an offer, we check the City of Minneapolis Chapter 249 List . This list is updated about every 30 days and has condemned and boarded houses on it. If a house is on this list, it has most likely lost any grandfather status and will be required to be brought up to current building codes (which can add thousands of dollars to the rehab). If a house stays on this list for too long, it can be scheduled for demolition. I suggest you stay away from those! Lastly, I always write a clause into any purc... More About: Condemned , Properties
Let?s Talk Taxes
2008-01-25 18:00:00 When I meet a new investor, I always discuss how it is critical to building a team of advisers to support your Real Estate Investment career. One of my advisers is my CPA, John Caylor. As we head into tax season, I decided he should be our first guest writer of 2008 to ... More About: Taxes , Talk
Check Your Investment Property
2008-01-24 07:13:00 First Story: I realized last week that I had not been inside one of my rental properties in about 14 months. This is despite the fact that I drive by it every week or so as it is near my parent’s new house. The building was built in 2006, these are the ... More About: Property , Investment , Investment Property , Check
The Carnival of Real Estate #74
2008-01-21 07:02:00 Welcome to the Carnival of Real Estate at the Minnesota Investment Property blog. I spent the last couple cold days over the warm glow of my laptop reading all the fantastic submissions. Considering it is currently 11 below zero outside as I write this, I thought it might be fitting to showcase the ... More About: Real Estate
Getting a Good Night?s Sleep as a Real Estate Investor
2008-01-19 01:50:00 Jeff at BawldGuy Talking has done a great job of reminding us how important it is to keep our feet on the ground and prepare for “Uncle Murphy” as he puts it. He is absolutely right that as real estate investors we must have cash reserves available at all times in this business. ... More About: A Real Estate , Estate , Real Estate , Night , Investor
Tenants: How to lose your Section 8 Voucher
2008-01-16 18:00:00 I had several tenants lose their Minnesota Section 8 voucher in 2007. One tenant had 4 kids with a three bedroom Section 8 voucher and another tenant was a single person with a two bedroom voucher. They lost their voucher for one of the following reasons: I evicted one for non-payment of rent. ... More About: Tenants
Investment Property Rent Collection
2008-01-16 05:31:00 Being a successful investment real estate owner requires being good at and having a system for rent collection. Unfortunately, I often run into investment property owners that are complaining about how their tenants don’t pay or don’t pay on-time. Despite my best encouragement, they still can’t/won’t take a systematic approach and a ... More About: Property , Investment , Investment Property , Rent , Tenants
Bank of America Buys Countrywide
More articles from this author:2008-01-14 06:27:00 Bank of America reported Friday that it would buy Countrywide for $4 Billion. This new company would become that largest mortgage company in the US, with almost 25% of all loan under its umbrella, surpassing Wells Fargo. The merger is welcome news for industry watchers as many were worried about the liquidity of ... More About: Bank of America , Bank 1, 2, 3, 4 |
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