All Forum Posts by: Ryan M.

I require renters to purchase and maintain renters insurance, naming me as the additional insured or interested party.  My question for this group is what limits or coverage do you require for the bulleted items below?  The insurance doesn't do much good if they don't have adequate coverage.  

• Personal Property
• Personal Liability
• Deductible
• Replacement cost
• water & sewer backup
• medical payments
• Loss of use
• Property damaage to others
• any that I may be missing or should consider?

Thanks in advance for your feedback.

I don't believe you are required to have a dedicated account for security deposit but is highly recomended, and there is little to no cost to you to do this.  See:  https://www.landlordology.com/minnesota-landlord-tenant-laws/ 

We recently appealed our property tax value, we were successful which lowered our tax due by $8,000/yr.  What impact should that have on the value of our commercial property (retail building)?  Thanks.

@Blake Reynolds, you may want to look into getting a google voice number, or something similar, there are a few to choose from.  They give you a phone number that you can forward to any number of phone.  They come with voicemail and texting, and you can screen calls, transcribe voicemails sent to email, etc...  Pretty slick.

Welcome Kyle, pretty impressive story. Congrats. I'm also on the west side (Orono area) and in the IT space, if you ever want to catch up. I'm newer to residential and have been doing commercial REI since '07.

I get emails from MNREIA about upcoming meetings, I believe there is somewhere on their website you can subscribe to receive email about events (www.mnreia.com).  For the other one you mentioned I also get emails periodically but not as consistently.

Thanks @Loren Whitney & @Dmitriy Fomichenko 

I have a reasonable sized IRA that I am thinking of using to initially purchase properties, then refinance them with traditional financing and return the funds to the IRA to repeat the process...

1. Can this be done?  

2. What do I need to look out for in doing this?

3.  What else am I missing or may not have fully thought through?

Thanks.

Thanks @George Paiva & @Colleen F. 

I appreciate the help.