All Forum Posts by: Geoff Pettis

I want to buy an investment property in MSP - but where?  This is a question I get often from investors who live outside of the Minneapolis/St. Paul area but want to invest in the Twin Cities.  I've lived here for a long time so I know my way around and I can provide an opinion, however I'd like be able to provide some objective third party data that assesses/rates or compares the neighborhoods in the Twin Cities and surrounding area to assist in their search.  Does this information source exist?  Thoughts?  Advice?

@Nick Vergara Hi Nick, could I connect with you directly and chat further with you?

A few customers have shown interest in short term rentals and crash pads for flight crews (pilots, flight attendants).  I've got some experience with short term rentals but not much with crash pads for flight crews.  Does anyone have any experience with the pro's and con's of crash pads for flight crews?

Whether managing 5 or 100 properties keys are a big hassle.  Fortunately everything is "smart" these days; thermostats, appliances, and even door locks.  But what about battery life, reliability, compatibility, etc..  What is best for investment properties a non-connected but electronic keypad/deadbolt? or a full fledged "smart" lock connected with wifi, bluetooth or zigbee wireless interface?

Thoughts?  Concerns?

I would agree, being onsite when the inspection happens and being helpful, (but not saying much) has worked well for us

@Sarp Ka Hi Sarp, I would add Minneapolis/St. Paul to the list.  We are a economically healthy, mid-sized cities, with high percentage of Fortune 500 companies.  We have a variety of partners that would fit your needs.  We currently have multiple out of state customers that we are managing properties for.  Whether you want to fly in every so often or not, we work either way.

@Bob Collett Property Manager as outside/3rd party mediator - I like it!  Actually it makes a lot of sense.  In my past I've received a lot of good advice from professionals who brought an "outside" prospective.

I know putting your rental properties into an LLC reduces the personal liability of being a landlord. But, is it really necessary if you just own one, two, or even three properties?

@John Woodrich thanks for the recommendation.

As an addition to this discussion does anyone in the Twin Cities have a referral to a lawyer that has experience with family businesses in addition to real estate?