How do you track your tenant rent payments? Are you using spreadsheets, maybe Quickbooks, or are you doing it in your head? Every day, I am amazed by owners that have more than a few properties that don't have any system for managing rent payments … [Read more...]
Best Type of Investment Property for First Time Investors
I get this question often. "Of all the types of rental property, is there one type you’d recommend for a first timer?". Not trying to be evasive, but my answer is always "it depends". When I meet a new investor for the first time, this is usually … [Read more...]
8 Upgrades to Make Your Rental Unit Look Fresh for the Market
If you're like most landlords, you want to get your rental unit rented as soon as possible. Unfortunately, sometimes this means cutting corners or doing quick fixes so they can get them on the market. This can leave your rental looking tired and … [Read more...]
New Water Heater Regulations
The federal government has imposed new water heater regulations that will hit property owners in their wallet. Starting in April 2015, all new water heaters must be anywhere from 3%-30% more energy-efficient. To comply with these new federally … [Read more...]
Appliance Service Plan or Not?
I have come across many examples of landlords that require, in their lease, that the tenants carry an appliance service plan on the furnace, water heater, and kitchen and laundry appliances. In Minnesota, this is called Centerpoint Energy Service … [Read more...]
Showing Rental Property
I am in the middle of showing rental property that I own in NE Minneapolis. It has hardwood floors, 3 bedrooms and because it is kinda small, I am asking $850. It is available immediately (if you know anyone, send them my way!). I have had several … [Read more...]
Investment Property Maintenance Tricks
Investment property maintenance tricks can make your life easier saving you time now and later. I have not been posting much lately as I have been buried with multiple apartment turnovers. As I mentioned previously, several years ago, I moved many … [Read more...]
Minneapolis Trash Special Pickup
There is a little known trash service if you own a property in Minneapolis. It is called a special pickup. Recently I had a tenant that was evicted. She left 4 couches, 2 beds, multiple dressers, 10 bags of clothes, 20 bags of garbage, tires, baby … [Read more...]
Rental Property Fire
A rental property fire can happen, what do you do? This is a new one for me. In the last 30 days, two different customers have had a rental property fire! I swear I had nothing to do with it. One happened because of faulty wiring in the attic … [Read more...]
New Rental Management Company
My wife likes to give me hard time about that fact that I get antsy in my work life every couple years. This will be my 9th year in real estate, which is far longer than I held any previous corporate position. Recently I made the decision to open … [Read more...]
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