All Forum Posts by: Annie Weeks

Dan - just curious about the $400/month. Are you looking at that for a MF or SF, or just overall?

@Damaso Bautista I really appreciate the insight! I figured that it may be too late if they have already spoken to a realtor. I was trying to be sensitive to them because I know the house has significant emotional and sentimental value to them. However, I do realize now the point at which I should have made just an offer. In terms of offending anyone with a low offer, I am generally not concerned, it was really just this particular case. I will still talk to them about it, and if they decide to list it, at least I will have learned something!

Hi everyone,

I am a rookie investor and may have an opportunity for my first off market deal. My neighbor passed away over a year ago, and I let his family know that I would potentially be interested in buying the house whenever they decide to sell it. Well, I just got an email from them that they are getting ready to sell. They have met with a realtor to find out the value, but they are wondering if I am still interested. I am interested, depending on how much they want for it, of course. It does need quite a bit of cosmetic work, the garage is falling down, and it doesn't have AC (which is expected in our area), but at least some of the other cap ex items (roof, windows, plumbing) are in pretty good shape. Being right next door, it would be an easy project to manage and I know how much we could get for rent. It would even be a great STR. Like everywhere else, though, we are in a very hot market, so I assume it would go multiple offers even in its current condition.

My question is: how do I approach them about their idea for the value/sale price? Should I ask them first and then let them know what I am willing to pay based on what I know about the house. I have a feeling they will want much more than I am willing to pay, but I don't want to offend them. What are some other things I could offer to sweeten the pot in this market? TIA!

@Nyja Callaway I sent you a DM.

Thanks @Lucas Berry! I have already reached out to @Adam Tafel and plan to connect with him this week.

@Brian Hatcher thanks for your offer! I sent you a PM. 

@Daniel Anshus thanks for your advice! I am trying to connect with anyone I can who is local and runs an AirBnb. I will try to get in touch with Adam Tafel, but if you know anyone else I could reach out to please send them my way. Thanks!

@Dustin Peterson do you have any rental units in Minneapolis or St. Paul? I've heard about the rules in Minneapolis, so I am avoiding investing in that city. However, I know St. Paul is usually right behind Mpls in implementing restrictions. 

Can someone tell me why it's not mentioning you in my reply when I type @ your name? Clearly I'm new here...

@David Barnett I called the city of STP yesterday to get a feel for the city's regulations and they didn't mention any proposals for new restrictions. I will ask again on Monday, but do you know if the restrictions are for individual cities or where I might find them? Thanks!