When meeting with new clients, a question often comes up: "How do I know that my Realtor is not keeping all the good deals for himself?". The answer to that question depends upon your Realtor and their trustworthiness and motives, but generally I … [Read more...]
Maple Grove Approves Rental Moratorium
Recently, the City of Maple Grove implemented a 1 year moratorium on any new rental properties. This will take affect on July 1 and prevents single family homes and townhouses from becoming rentals. According to reports, the city has seen a 30% … [Read more...]
Where Should I Buy Investment Property?
New investors often ask me "Where is the best place to buy investment property?". Or the question may be "I have heard that investing in property in [insert any state here] is great. What do you think about it?". The answers to these … [Read more...]
Investment Properties in the Suburbs
Investment properties in the suburbs must be analyzed just like any other property in the metro Twin Cities, MN. Recently, I asked the readers to send me questions or topics that they are confronted with often. John Gall asked two questions which … [Read more...]
Landlords: Watch your Water Bill
When is the last time you examined your water bill? Are you sure it is correct? How much water should an apartment building, duplex, or 4-plex be using? Allowing toilets to run on and faucets to drip can add $50, $100, even $400 per month in extra … [Read more...]
St. Louis Park Council to review 2008 ‘crime-free, drug-free’ ordinance
The City of St. Louis Park is reviewing their 2008 ordinance that was enacted through which the police department was able to order landlords to terminate leases through repeated call for drug possession and other alleged crimes. The city is finding … [Read more...]
Low Ball Offers on Homes
Making low ball offers on homes in the retail market is not much different from writing a low ball offer on bank owned foreclosure properties. Although many of my original thoughts remain, I still get many questions about this process. One example … [Read more...]
Investment Property Partnerships
I have seen investment property partnerships very often in my career. Just like in any business you will find partnerships. Sometimes they are built originally from friendships, sometimes they are between complete strangers. Regardless of their … [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...]
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...]