All Forum Posts by: Brandon Capelle

@Joe Scaparra, I'd have to consult with my attorney on the specifics around evicting in cold weather. Maybe you're thinking of the law that gas companies cannot turn off your utilities if you don't pay your gas bill? No transition fee here. 

These are in Owatonna MN

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $385,000
Cash invested: $20,000

Purchased 3 additional identical duplexes to my previous investment which will make a total of 8 units, 4 duplexes, all next to each other.

What made you interested in investing in this type of deal?

The numbers and location made sense for this to be a great income producing buy & hold.

How did you find this deal and how did you negotiate it?

I found this deal because 1 of the 4 properties was owned by a different investor, they listed the property, I took a look and realized there was 3 more identical properties next door. Purchased the one on the market and then contacted the owner of the other 3.

How did you finance this deal?

Commercial lender.

How did you add value to the deal?

By bringing all 4 properties under one ownership. Currently we are adding value by taking care of deferred maintenance.

@Brandon Sturgill There is an offset in the sewer line resulting in it not being a candidate for lining. Had a lining company review the scope video. 

@Wayne Brooks It's located on the road side. My property line ends at the curb and the repair needs to be made almost at the main in the center or the street. 

My properties sewer line needs repair under city street - $18k for excavation and road work alone. Sewer line connection to the main is 15 feet below grade so there is a lot of excavation and then road resurfacing once the sewer line is repaired. Can this really be 100% the property owners responsibility? No local insurance program is offered for sewer line protection like some cities. The property line ends at the boulevard. If I was only digging up the front yard I'd have no issue with assuming responsibility. But the road??? 

Anyone who has had experience I greatly appreciate your insight. 

BC

I own a duplex in Minneapolis, MN and would like to charge the city utilities back to the tenants. Water/sewer isn't metered separately for each unit and the garbage fee is lumped in on the same invoice. Anyone have a good solution or example of what they might be doing to offload this cost and help their tenants realize they should turn the faucet off occasionally? Thank you in advance!

Seems like the 9 month lease would be safe/comfortable but is there really more demand for that vs winter recreation activities? Are you going to self manage?

I'm working on buying another rental property and would like to use the Brrrr method but haven't done it in the past. Looking for a mentor/partner, and advice. Thank you!

Thanks for the replies! 

My primary focus would be to have it rented, and not use it for personal. Also, would want it suitable for year-round use. 

I recently listened to the Zeona McIntyre podcast and it prompted me to look into this as I was preparing to purchase another duplex in the Minneapolis area. I'm trying to figure out which would be the better way to go.....