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Rental Management GuysWhat is the norm for making low ball offers on homes? I have been getting this question more and more every day with my customers. I answered that question a long time ago about Low Ball offers on foreclosed properties. That is current my number 1 … [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]
Home Sales Highest Since 2005
Information released this week by the Minneapolis Association of Realtors show home sales in 2015 rebounded to pre-great recession numbers. They were up almost 14% over 2014 to a total of 56,390 sales getting close to the record of over 60,000 homes … [Read more]
Tenant Application-Red Flags
Receiving a tenant application can require some detective work and a good ear. A prospective tenant calls you and wants to see that 3 bedroom apartment that you have for rent. What types of "red flags" should you be watching and listening for as … [Read more]
Waiting Period after Short Sale
Fannie Mae came out with new guidelines for waiting period after short sale. Below is the updated waiting periods after a bankruptcy, short sale, and foreclosure for all loan types. One change was to the waiting period 4 years after a short sale … [Read more]
Governor Walz Again Extends Eviction Moratorium
The Governor extended the Peacetime Emergency declared in EO 20-01 until May 14, 2021 (EO 21-19). That means, the eviction moratorium in EO 20-79 is also still in effect. Evictions can be filed for one of the exceptions in EO 20-79 (seriously … [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]
Minneapolis Rental Owner Workshop
The Minneapolis police department sponsors rental property workshops several times per year. The next one is scheduled for January 15 at the 5th Precinct at 3101 Nicollet Ave in South Minneapolis. It is from 6-9 pm. It is free and here is just … [Read more]
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