All Forum Posts by: Carl Petterson

I agree with other posters, find a broker and quote it out. I'll add, however, that I do this every two years regardless of what's going on for all my properties, personal and investment, auto, umbrella, etc. It keeps me informed of the market. I've found that brokers are readily wanting to quote new business. It's a win-win. Sometimes I switch, sometimes I don't. 

I wouldn't build it and ask for forgiveness, not in Minneapolis anyway. Is the property mortgaged? If not, deed it to yourself. Pull the permit, do the work, and deed it back to the LLC. One of the many drawbacks of using LLCs... sometimes an umbrella policy works just as well with less hassle.

@Mike F. @James DeRoestHey guys - my last line was a little bit of a joke given the scope of the project. There's no doubt that professionals with years of experience or education shouldn't be compensated for their experience. I hold several designations and understand the costs and efforts of experience, licensing, insurance, etc. I have no problem paying a reasonable rate for a reasonable project. However, resetting a toilet doesn't require a master plumber. I called local plumbing co. and explained I needed a toilet reset. Something like that doesn't require 20 years of experience. They sent an apprentice solo. Some may think $200 is reasonable or market rate, I don't, which is why I asked for references. I could be mistaken. I don't want the cheapest guy, but I don't want the guy that's the most expensive either... Thanks again for all the suggestions everyone!

Congrats on the CPA exams! When you finish that final test, are you going into public accounting at a big firm? hang a shingle? focus on re?

Everyone - wow. Thanks for the comprehensive advice. The bolts were tight, but I was able to push it a hair. The plumber said the flange was fine, nothing was shoved in the toilet. I appreciate the thee camps of thoughts (she pays, we split, or I pay). I didn't even thing about splitting it. 

I think I'm going to look big picture and pay this one, treating it as normal wear and tear. It's the only expense in a year. She pays early each month. No other calls. I'm glad she called. If it happens again, I'll have her pay according to the lease because she's doing something I can't figure out. 

It took the plumber 15 minutes...but saved me two hours in traffic. So I need to take that into consideration. But seriously, where in school did they say to become a plumber and you can charge $150 an hour, plus travel time, and charge $10 for a $3 wax ring! haha thanks again everyone. 

I have no idea how, but somehow my tenant moved her toilet half an inch. She either hit it somehow, or pushed it, or super hard plunged it, I'm not sure. But every time she flushed it, the water would rush/leak into the basement. I took a look and hired a plumber to reset it with a new wax ring and everything is ok. I thought perhaps she flushed something down the toilet but that wasn't the case. 

She's been a good tenant, pays on time, no phone calls (other than this). She's hard on the house, stickers on walls, scratches on the paint, etc. She has another year left on a two year lease. My lease provides that if she causes the damage, she is responsible for fixing it. The bill came to $200. Which is obscene to reset a toilet but it is what it is. (Anyone know of a more reasonable plumber in Minneapolis and St. Paul Minnesota??) 

My question is, is this something I should ask her to pay because she was the one that moved the toilet? Or do I suck it up because she's been a good tenant and this is part of doing business? Do I tell her that I could charge her, but decided not to? 

Thanks for the advice.

It's as an ok neighborhood. The further south you go, the better, and the further north you go, the worse. I bike through there all the time. I live about 10 blocks to the south and east. 

Megan - I'm an attorney and I fall into the minimizing expenses camp when starting out. 

If you're just testing the waters, house hacking, etc., I suggest you do what you're comfortable with. The Minnesota State Bar Association has a great 'free' lease on their website. It's vetted, reviewed, and updated by attorneys. Other Minnesota lease forms are available too - check the Secretary of State's website and the Realtor's Association. Most are designed as a fill-in-the-blank type forms. Review them, and if they make sense to you, use them. If not, reach out to someone (like a friend or mentor, including counsel) that can explain it or share their documents. (Let's keep this a secret, but those are the forms many attorneys use as the template for their documents.) Many attorney's dabble in this area, but I encourage you to use a well-established real estate attorney. Use their knowledge and expertise to grow yours, not just review your documents. Ask a billion and one questions when you meet with them.

Once you're established, have multiple properties, or it's a business, then I suggest as others and request a document review and an hour or two from an experienced real estate attorney.

You probably need something in place, but please don't try creating your own or download a generic non-MN one from a blog. That could be worse than having nothing.

Thanks @Tony Otis Ideally I'm looking for someone that installs them during the day for a fence company and wants to make a buck after hours or on the weekend. 

Hi all - 

Anyone know the contact info for a fence installer? I need (want) to put up a privacy fence. It's roughly 200 lineal feet. I'm open to paying cash. Can be after hours workers, etc. No warranty, bonding or insurance required either. 

Thanks - Carl