When I am looking for Minnesota investment property for customers, I am not only looking for properties that have the best prices, I am also looking for investment properties that have certain features. Some of those features are: Tenant paid … [Read more...]
Short Sale vs Foreclosure
I get this question all the time, short sale vs foreclosure. It usually goes something like this: "Do you get a better deal with a short sale or with a foreclosure." Before I give you my answer, let's review the foreclosure time line and … [Read more...]
Buying Rental Properties with Tenants
Writing offers on rental properties with tenants in place require a little more attention to ensure that you get what you think you are getting when the closing is over. If you miss something or simply assume everything will be fine, you may get a … [Read more...]
Crystal Repeals Point of Sale Inspections
This week the City of Crystal repealed their point of sale inspection program after much discussion. Enacted in 1992, this program (which is similar in 12 other cites including Minneapolis, Hopkins, St. Paul) was designed to encourage/force home … [Read more...]
Investment Property Analysis-Cash on Cash Return
There are many different ways to analyze investment property purchases. These financial ratios include: Cash on Cash Return, Cap Rate, Debt Coverage, Gross Multiplier, and Return on Asset to name a few. Which ratio you use depends upon your … [Read more...]
Lots of Buyers, but No Inventory
My customers have been struggling lately. We are back to multiple offers and houses selling in days. Seems like we go through this about every 6 months (inventory loosens up, life is easy, then back to the fire with no inventory and a sellers … [Read more...]
Painting Your Rental Property Update
I wrote a post several years ago about painting your rental property. Despite having been an investor for over 10 years at that point, I think the main idea in that post was my attempt of creating order out the often messy business of owning and … [Read more...]
Why Buy Investment Property anywhere but Minnesota?
I know I am going to get some comments from readers in other parts of the country that you should buy investment property in their state! My point is not that anywhere BUT Minnesota is bad. It is just that I often get the question from new … [Read more...]