All Forum Posts by: Craig Fitzsimmons

I live in the Cities, but have some MF investments in the Duluth/Superior market. Overall it has been good, but cold and snowy winters can surely impact cash flow. Also a good idea to keep an eye on Duluth’s city regulations as they seem to be getting tighter for landlords! Good luck and happy hunting. Cheers, Craig

At the start of 2017 I didn't have any properties. Today I closed on my 4th property (6 units total), and it has been a blast! The first two were townhouses, but the two most recent are duplexes. My average COCR is 21%, with the duplexes both > 25%. Once the last two units move in, I'll be looking to scale to 4-6 unit buildings with the goal of at least 25 doors in 4 years from now. All 4 were MLS listings and I'm working with a local PM company for the duplexes. I'm managing the townhouses and that has gone fine. Happy hunting! Craig

Hi All, I am set to close on my third property later this week (all this year) and want to make sure I'm organizing all paperwork for tax write-off purposes. What "up front" costs can I write off? Appraisal, inspection, closing costs, etc? Do I simply keep the closing docs that details these line items and give to my accountant? Thanks in advance. Cheers!

In my opinion, you're giving too many options. I use Cozy for my rentals and it has worked quite well (all at no cost to me). Rents seem to take a few days to process, but they direct deposit every month without issue. The one argument I've heard is that tenants need internet. First, it's 2017 and it's hard to find people that don't at least have a smart phone! Second, they could go to a local library and use a computer one time to set up monthly auto withdraw so they don't have to access the site regularly. Just my two cents. Good luck! Cheers.

Jordan Benson - welcome to BP! I'm a WSU grad (La Crosse native) that lives in the Cities now and just dove into REI this year. Best of luck to you, and don't hesitate to reach out with questions. Cheers!

Here from Victoria! Lots of MN brainpower on BP.

Mike V. - I use a website called Cozy for auto rent collection and background checks. It's easy to use and there is no cost to you!

Because I want to work for myself so my family and I have the freedom to do what we want, when we want!

Ross Denman - Are you involved in the search/acquisition of the property, or do you just manage once the out of state investor has taken ownership?

Ritch Bonisa - I'm in the Twin Cities, but exploring other Midwest markets including Indy. I'd like to hear more about your offering to out of state investors. Are you open to discussing? Thanks, Craig