All Forum Posts by: Brian R.

I have a duplex with asbestos siding on it.  The only problem I have had is insuring it.  One of the first questions asked is if it has asbestos siding.  I had to get a "high risk" policy on it in order to get coverage.  They said it is because if it is damaged, they have to reside the entire property since they can't get the siding anymore.  I painted it after owning it for 10 years.  

If you are going to rent the property out to others, some cities require a license, some do not.  You need to check with each individual city.  Most of them have the information on the city website with the requirements for a license; inspections, costs and other requirements. The state does not require a license.

You would have to check with the city for exact details, as it could vary from city to city. 

Is someone living in the property now?  They could be accruing daily, weekly, or monthly fine/fees from the city until they are not complete.  If you are using conventional financing to purchase the property, they could hold up or stop the financing. 

My suggestion, go to the city building department, tell them you are interested in purchasing the property, find out what they will require from you to close the orders, and if their is any fees or fines being assessed to the property because of them.  That is the only way to get a complete answer.

@Pete Husband, Columbia Heights. 

§ 5A.411 BACKGROUND CHECKS. (A) Criminal background check required. The city is interested in rental property owners being well informed about a prospective renter's past criminal history, regardless of whether or not the owner decides to enter into a lease with the prospective tenant. Therefore, the licensee shall conduct criminal background checks on all prospective tenants. The criminal background check must include the following: (1) A statewide (Minnesota) criminal history check of all prospective tenants covering at least the last seven years. The checks must be done by utilizing the most recent update of the Minnesota Bureau of Criminal Apprehension's criminal history files; (2) A statewide criminal history check from the prospective tenant's previous state of residence shall be conducted if the tenant is moving directly from the previous state; (3) A criminal history check of any prospective tenant in their previous states of residence shall be conducted covering the last seven years if they have not resided in Minnesota for three years or longer; (4) A statewide (Minnesota) court history check of all prospective tenants covering at least the last seven years. This check, which includes Unlawful Detainer actions, can be done utilizing the most recent update of the Minnesota Judicial Branch Trial Court Public Access database. (B) Any company that the licensee contract with to conduct criminal history checks must meet the same standards as established above. (C) Documentation of the criminal background checks must be kept on file by the property owner for the length of the tenant’s lease. The lessor must display documentation of the background check upon request by the Police Department. (D) If the licensee fails to comply with the requirements of this section, the rental dwelling license for the premises may be denied, revoked, suspended, or not renewed. An action to deny, revoke, suspend, or not renew a license under this section shall be initiated by the City Council at the request of the Police Department in the manner described in § 5A.408.(Ord. 1532, passed 11-26-07; Am. Ord. 1592, passed 5-9-11)

One other thing to consider, does your city have a requirement for background checks for tenants?  One city I own property in requires background checks on everyone 18 years or older as part of their licensing requirements.  They don't tell me what criteria to use to approve or deny anyone, just that I know what they have in their past.

If problems occur and the police are called to the property multiple times, they can ask me for a copy of the background check that I did on the tenant.  If I don't produce it, it is a misdemeanor charge against me, and i can loose my rental license for that city.  

The shoes would not have protected you.  The plastic pot is not going to protect you long time.  If you touch the plastic jacket, you will not get shocked, unless their is a nick or cut in the plastic.  If you don't know where they go, spend the money to have an electrician come out and investigate them; find out where they run to, and disconnect them from whatever they may be connected to. 

If they are hot, and the dry leaves/grass come in contact with the bare wires, that could start a fire, not to mention a person/pet touching them unintentionally getting electrocuted.

From the picture it looks like it is fairly new (10 years or newer)

I have had the "my employer messed up my paycheck" from one tenant three months in a row this past year.  They drop off a personal check with me every week.  I bring it to the bank (we both bank at the same bank) and verify they have the funds before depositing it, since I have had one bounced check from them.  This morning they brought over a check with a note that says the holidays are a busy time, so we are paying January early, as well as February.  I am nervous to bring that check to the bank.  My wife reminded me though, the company he works at gives large bonuses  to all employees in December, so it should clear..

They should be licensed and insured.  Most states/cities require that by law.  Depending on the work that is being done will determine if permits are required.  If the contractor doing the work isn't licensed, they will generally not be allowed to get permits to do the work. Not getting permits to do the work can come back and haunt you. If you are caught doing work without permits, all work can be required to be removed, along with fines and legal fees for you.

Check with your city building department to know what they require for whatever work you are doing.  Every city/state has different requirements.

My opinion is that you need to put your investment money into a wide variety of investments, real estate, stocks, bonds, etc.  I wouldn't do business with anyone that says you shouldn't invest in a particular item because they won't make money off of it. I want someone who is going to look out for the client, not just themselves.  While I understand they need to make money, and I support that, that tells me they are just looking out for themselves.

I talked to @Scott Jensen yesterday, and from our conversation I would say that is the direction I will be going.  After the first of the year we will be sitting down and coming up with a plan going forward.

Thank you to everyone that recommended him.

Thank you everyone for @Scott Jensen's name.  Scott, I will send you a message.

Thanks