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Rental Management GuysFannie 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]
Tenants Withholding Rent until Repairs are Made
Withholding rent until repairs are made by the landlord is a strategy that some tenants will use to forgo or delay paying rent. Although this is a legal maneuver in the state of Minnesota, the tenant must follow strict guidelines or be subject to … [Read more]
Apartment Association Tenant Screening
Collective apartment association tenant screening is a new technique that some associations are using to manage the flow of tenants into their buildings and neighborhood. Here is how it works: All building owners agree to collective tenant … [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]
Screening Tenants for Rental Property
Here is a recent question I received: "When screening tenants, if they have bad credit but a solid rental history would you rent to them? Do you recommend credit checks or focus more on criminal and rental history." I originally just shot back an … [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]
Fair Market Rent Evaluation
Determining Fair Market Rent can difficult ascertain at time. Here is a process that can help with the fair market rent evaluation. I had a recent question: "Aside from watching asking prices for rents on places like Craig's list is there a good … [Read more]
Prepping to Sell Investment Property-Revisited
I believe that most real estate investors are probably more excited about the day they will sell 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 … [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]
Realtor: Keeping the best for himself?
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]
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