All Forum Posts by: Ana Vergara

Hi All! 

I'm a fellow real estate investor and wanted to share that my family just started running a local furniture store in the Twin Cities. We're new owners and have a large selection of liquidation mattresses in all sizes. It's perfect for folks that want to furnish large spaces (Airbnbs) at an affordable price. 

The store is Mattress Liquidators and is located at 1253 S Robert St, West St Paul, MN 55118

If there is a more appropriate place to post please let me know! Thanks so much!

 Hi Jeff! We opted to lower rent to $1330 so we went down $45. I don't regret it since we are sharing a wall and we have gotten along pretty well regarding noise level. They go to work early and sleep early, we have a baby and want it quiet early because baby goes to bed early. So far it has been great! With house hacking and having a family I had more to consider when it comes to peace of mind. Thanks for asking!

@Heather S. You said this company is called May Day Construction? I cannot find a MN Secretary of State filing or a license/contractor registration on them. Contractors are required to have a license or construction registration if they are performing construction services. I know this doesn't help you get your money back but you can always report them to the MN Dept of Labor if they are unlicensed: https://www.dli.mn.gov/busines...

For future reference what is nice about hiring someone with a license is that you can be eligible to use the recovery fund for an out of pocket loss. You can read more about that here: https://www.dli.mn.gov/workers...

We actually did this once on a property we were considering. It actually looked a lot more intimidating than it actually was. So thought this was super helpful. We ended up paying $200. But it was worth it for the peace of mind.  

 Thanks Bryon! All good things to consider since you are currently house hacking. 

 Hi Abel, 

Thanks for your input Abel! I am wondering what would you consider waiting for too long? We posted it in March. I do live in Minnesota and do think since it is winter is influences how many people are currently looking to move.

Hello! 

We bought a duplex in Saint Paul, Minnesota and have it marketed at $1375. It's an up down duplex and my husband and I live in the bottom unit. So far we have two different groups interested. One is a group of three students that would likely need to get subleases as some of these girls get married or get different professions throughout the city. The other group is two sisters that are already established in their careers. We'd prefer to have less people obviously for noise reasons but the sisters asked if it's possible to ask for a reduction in rent to $1250 since utilities are higher than expected. We're curious what other house hackers or investors think about this. We do have a little baby so are very cognizant about noise. The other piece to this is that Saint Paul has a new ordinance about not being able to up the rent more than 3% in the area. Is missing $125 worth it to have less noise? We really got along with the sisters. Really open to hearing thoughts!

Hello! 

I am interested in purchasing a home but it seems the owners/owner is deceased. So a third party family member is taking care of selling the property. There is only an alternative disclosure available because the family member does not know what all was done to the house or could be wrong. Things I could see needed to be replaced off the bat include siding, carpet, painting, replacing appliances, etc. 

My main question is how do you come up with an offer for a home when there is not a full disclosure? Also, is there any other advice you would recommend in a situation like this?

Thank you!

Ana

Hello! I am looking to purchase my first property. My husband and I found a house selling for 282K in the Inver grove heights area. It's a very family friendly, safe area, and close to work in the cities. However, we estimate that it would need close to $60,000 worth of work. My question is do you usually subtract this from the offer you make? I know we are still very much in a sellers market but this house needs major renovations. Additionally, do folks usually contact contractors to give them estimates before making an offer? Are folks doing that considering how quickly the market is moving?

Thank you!

Ana