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All Forum Posts by: Alan Mackenthun

Alan Mackenthun has started 1 posts and replied 105 times.

Post: Was Hoping for some Current Landlord Feedback

Alan MackenthunPosted
  • Rental Property Investor
  • Englewood FL & Prior Lake, MN
  • Posts 107
  • Votes 33

My wife and I are also Gophers.  My wife Comp Sci, me Civil Engineering.  That was a while ago.  I moved into software pretty quickly for all the opportunity.  We're now working on setting up the tech side of a start up locally.

I don't use anything now, but it's something I've looked at.  I'm not at the scale to afford the best, but something would be nice.  Many property management applications support work orders, but a mobile app would seem to be a good lightweight solution. 

Post: Was Hoping for some Current Landlord Feedback

Alan MackenthunPosted
  • Rental Property Investor
  • Englewood FL & Prior Lake, MN
  • Posts 107
  • Votes 33

Not sure I'd like to open a doc from someone I don't know, but I'd be happy to answer questions on this forum.  Where'd you go to school?

Post: How Would You Improve the Outside of this House?

Alan MackenthunPosted
  • Rental Property Investor
  • Englewood FL & Prior Lake, MN
  • Posts 107
  • Votes 33

Not sure what's around the corner from the back door, but it has to go.  Other than that, like everyone else said, there needs to be some color added other than white and green either in the landscaping or on the house.  Replacing the front bushes with a white picket fence sounds great. 

Post: Turnkey Deal Gone Bad...

Alan MackenthunPosted
  • Rental Property Investor
  • Englewood FL & Prior Lake, MN
  • Posts 107
  • Votes 33
Originally posted by @Kevin Trumbull:

I'm a new investor looking at turnkey for my first investment, thanks for posting this, helps me keep things in perspective and reminds me that due diligence is paramount.

Quick newbie question, where is a good place to find neighborhood ratings?

You need to visit the properties, walk the neighborhood and judge for yourself.  I don't think you'll find A, B, C, .. neighborhood ratings anywhere.  A real estate agent cannot even estimate a rating as it could be considered steering (illegal). 

Post: Minnesota bank recommendation for portfolio loans

Alan MackenthunPosted
  • Rental Property Investor
  • Englewood FL & Prior Lake, MN
  • Posts 107
  • Votes 33

Anchor Bank does them locally here in the Twin Cities.

Hi Brandon,

We met a couple years ago at a meet up in St. Paul.  We've got 14 doors in the SW Twin Cities metro area (Eden Prairie, Shakopee, Prior Lake and Lakeville).  I'd be happy to show and tell.

Post: ACESS to MLS in the state of Minnesota

Alan MackenthunPosted
  • Rental Property Investor
  • Englewood FL & Prior Lake, MN
  • Posts 107
  • Votes 33

Yeah, sharing your MLS ID and password is illegal and violates the MLS access agreement. If caught, the realtor or other licensee would lose their MLS access, their license, and would be liable for any damages in case someone booked a showing and robbed a property. It's just a really bad idea. Get your license or just use Zillow, realtor.com, trulia, or anyone of the numerous other sites with most mls data.

Post: How far away will you self manage?

Alan MackenthunPosted
  • Rental Property Investor
  • Englewood FL & Prior Lake, MN
  • Posts 107
  • Votes 33

When I started I figured anywhere in the Twin Cities metro would be ok.  I ended up with one 39.2 miles away taking about 50 minutes to get to.  I had it for a number of years, but recently sold it closing on it last week.  For me, that's too far.  I'm looking to stay within about 20 miles from home.

Post: Minneapolis Miracle

Alan MackenthunPosted
  • Rental Property Investor
  • Englewood FL & Prior Lake, MN
  • Posts 107
  • Votes 33

There are a lot of owner occupants, but there's also an apartment building boom being built.  I invest here because I live here and am doing fine, but I'm sure it's like a lot of places.  You have to know the local area and who's your target market.  I bought one house in MPLS and will never do it again.  My money is staying in the burbs where I tend to find better renters and less over-bearing regulation and regulators.

Post: Question about multi-tenant NNN and vacancies (who pays?)

Alan MackenthunPosted
  • Rental Property Investor
  • Englewood FL & Prior Lake, MN
  • Posts 107
  • Votes 33

The owner pays for vacancies. I don't own NNN properties (yet), but I certainly wouldn't sign a lease where other vacancies in a property that I have no control of increase my costs.