All Forum Posts by: Daniel Windingstad

Wow I am getting tons of great info, thank you to everyone for sharing. It sounds like Columbus OH is pretty hot, Memphis TN, and some areas in the southern Midwest as well. 

Its scary for me, being a smaller investor, but I am eager to grow my business, and with the inflated costs here in Minnesota, I find it hard to keep growing, especially, since i am trying to start a family now. 

I came from doing everything self motivated and always had a battle with all the things i do in life, and continue to try and cultivate positive self-belief. It is refreshing to be surrounded by supportive people eager to help. Though, my Naivete has gotten me into trouble before. I am rambling, but i appreciate the help and am happy to connect with people if you want to send a DM. 

Cheers,

Dan  

 Sounds like a great market. But why do you think it is that way, vs, minnesota? Happy to connect and learn, I have heard of many successful investments in the OH areas 

Hello,

I own 2 properties (1 sf, 1 duplex) in Minnesota, and find that the rules, fees, tenant laws, taxes, etc. In Minneapolis are making it very hard to be profitable. The best thing i seem to have going is appreciation, which is nice, but cashflow is struggling a bit. 

What are the best out of state markets, and who has invested out of state? What are the major pros and cons, and tips to making it successful out of state? Open to all shared knowledge. 

cheers, 

Dan

Hello, hope this isn't too long of a read, but I was curious what everyone thought about this situation: 

During turnover, rather late, I noticed the tile of the shower was cracking along the grout lines, and I noticed it had some give when I pressed the walls. Long story short, the shower surround needed replacing, and this was days before a new tenant move in. I spoke with the tenant and said the shower will be needing new tile so while the toilet will be operable, the shower won't. This is a 2 bed 1 bath with a single tenant, btw. Well, the crew is finishing up now, a week after her moving in, and I understand it has been inconvenient for her, but the only thing not usable was the shower. She was OK with it being a few days (I was quoted a 3 day time frame for work), but found out that didn't include weekend, and now its been a full week and they are just finishing tonight. 

I didn't see any requirement for compensation in this regard, so I don't think I technically owe her anything, but offered $50 for the inconvenience, since it was longer than she initially was ok with. I didn't know this prior, but the tenant does not drive, and told me she had to Uber to/from her old place to shower and wants $200 for this. Before considering this, I do not want to set up the precedent that I will just bend whenever people ask for handouts. but I also want to be fair and am looking for unbiased advice on how to respond to this request. The repair was a big hit for me, and I am now tight on cash, as I just literally moved and my wife and I are expecting our first baby so I am doing what I can here. 

Her choosing Uber is not my problem, right? that isn't fair that she should expect me to pay for all her Ubers, right? maybe I am over thinking this and her asking 200 isn't bad, but I really don't want her to see me as someone who will just give credit all the time, because my margins are thin already on the property and I typically invest a lot into making a place nice for people. 

If I am being greedy, you can tell me, but be gentle, I only own two properties lol

Hey everyone, I am going to try to be as sensitive as possible on this! I have a property in an area where a lot of applicants do not have a SSN, or speak much english. I know a little spanish so we do ok on communication, but I don't know how to handle this in a way that is non discriminatory. I'm worried that if I ever need to involve law or courts for anything like eviction or collections, if/how that would work. And I also want to be as fair as possible. What do you do in those cases? 

Hello all, I own only 3 units and my wife and I are looking to move into a SF home. Currently in a duplex.  Looking for experienced investor-agents who have done more deals than us, and have a  proven track record for investing. Must know local market well, and be familiar with local ordinances. 

I've been hearing a lot about rental prices dropping in many cities. For those who are more experienced, do you see this as a common trend? Will they go back up? I just purchased a property recently with fairly tight margins, (my current house hack) and want to know if I made a mistake because I am relying on current market rent prices for it to be profitable. Thanks on advance! 

Thanks, Kim! 

I do not have an attorney. I know one, but her rates are beyond affordable for me at the moment.