All Forum Posts by: Chris Gottshall

@Joe Gulyas

I see you were thinking about buying something in Mexico in 2015. Did you ever figure it out? I’m starting to look now and would love to learn more about your experience if you have anything to share. Thanks in advance!

@Stephen Kichak I was capped at 200 shares. And it looks like they listen to Jim Cramer, who last night gave advice to his followers to back up the truck at $68/share.... exactly where they ended up pricing it. After the door dash rally today, here’s hoping for a nice pop on the open!

@Stephen Kichak I requested 275; still waiting to hear what they’ll allow, as it could be less than that depending on the demand. Did you get confirmation that you purchase all 275 yet? We are expecting to hear about it this week.

@Jared LaLonde I’m dealing with a similar situation right now with my 2/1 condo in Whittier. Just had long term (3 years) tenants terminate at the end of October and despite multiple price drops from what they were paying, we’re not getting any showings. My upstairs neighbor is also trying to sell her unit and isn’t getting much action on that front either. She brought up the idea that it might be proximity to the riots this summer that is hurting our neighborhood’s appeal. I also read about some of the stores leaving uptown, and I’m wondering if we’re going to see a major swing away from our neighborhood in terms of rental interest. I don’t have much more room to negotiate on price before I hit break even again but net zero income is better than paying the mortgage without any income. It will be interesting to see what happens in this area over the next few years. Personally, if I could sell, I would. I no longer trust the city of Minneapolis to support my investment in the community.

On the other hand, my Saint Paul properties haven’t had much of a problem finding new renters even during this pandemic. I’ve turned over 3 units in StP this year with barely enough of a gap to do all of the turnover activities.

@Scott Benton I just learned about recasting this summer when I refinanced my primary residence. I’m not sure if I will use it on my rentals but I’ll definitely take advantage of this option to decrease my personal housing payments over time, which puts more cash in my pocket each month.

One thing my lender told me at the time was that while every Fannie/Freddie loan can take advantage of this, not all lenders or services will support the option, precisely because of the fact that they make more money via refinancing. Your post makes it sound like all servicers will do it if asked. I’m curious if you have encountered any servicing companies that flat out won’t support this option. Or is it just a matter of finding the right person to talk to?

@John Mark Morelli The biggest thing I’d focus on coming off the new listing high is making sure you’re set up to qualify for super host status during the next evaluation. If you need more 5-star reviews, you can always let friends stay there for a discount in exchange for helping make that happen. When I started, I felt like I was giving it away for the first few months but it helped make sure I had a solid number of reviews to qualify. The Superhost search filter is one that they make prominent for guests, so that’s always a focus area for me.

That's total BS! I guess no contracts will be enforceable in that courtroom.

I own a multifamily property in Saint Paul, MN that is titled to my trust. Liberty Mutual was willing to issue a normal residential landlord policy without any problem, but recently Auto-Owners came back and said if it is titled to a trust, it has to be written as commercial. I'm trying to find a better deal than Liberty Mutual was offering me, and Auto-Owners *was* that better deal until they decided to change it to commercial, which doubled the price.

Who writes residential landlord policies for small multi-family properties in the Twin Cities and wants some new business? I have several policies at Liberty Mutual that I am open to moving elsewhere for any agent that can solve this current challenge with my quad. Thanks in advance for any suggestions!

@Konrad Lightner Who did you end up using for your 4-plex insurance? I'm in the market for the same thing right now.

I aim for the lowest nightly rate possible, as that’s a major filter for users searching. I have no interest in being filtered out of someone’s search before they’ve even really started looking at details. But I would be very interested to hear how it goes for you, if you try it.