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All Forum Posts by: Jeff Rogers

Jeff Rogers has started 9 posts and replied 79 times.

Post: Am I wasting my time investing in the Twin Cities?

Jeff RogersPosted
  • Investor
  • Rochester, MN
  • Posts 79
  • Votes 55

Hey @Stephanie Deppe

I'm in MN and have been on the hunt in multiple markets across MN.  No you're not wasting your time in the Twin Cities.  There are a lot of exciting things happening all over the place. I would say though that @James Hamling has some real nuggets in his post. It so densely steeped in reality that it's worth reading 3 times over, haha.  I'll add that to find the deals you need to dig, dig and dig.  In my journey, I've been able to find the "hidden" deals building my network, making contacts I know, like and trust, add value to people, make mistakes, and ask questions.  It does take time and effort but by doing it you just might find what you're looking for.  My favorite story is after I listened to a BP podcast where the guest said he would mow the lawns of his properties just to meet the neighbors and ask to buy their properties, well, I did just that at one of my rentals and was able to buy one of my neighbor's properties.  It did take a year of staying in contact, though, but when they were ready to sell, I was top of mind for them.  

Post: Rochester MN Meet Ups?

Jeff RogersPosted
  • Investor
  • Rochester, MN
  • Posts 79
  • Votes 55

Hey Brandon, 

Sorry for the late response.  There is an email list I can connect you with.  Most months it's in the same place. In the summer it's occasionally outside somewhere.

Jeff

Post: Rochester MN Meet Ups?

Jeff RogersPosted
  • Investor
  • Rochester, MN
  • Posts 79
  • Votes 55

@Miles Lerner are you looking for a Rochester meet up?  There is one, 3rd Thursday each month 7pm. I can shoot you a message if you'd like more info.

Post: new member introduction

Jeff RogersPosted
  • Investor
  • Rochester, MN
  • Posts 79
  • Votes 55

Hey @Aurelien Kuetche Fosso, I'm in the Rochester area, would be great to connect. I'll shoot your a message!

Post: Monetizing under-utilized space?

Jeff RogersPosted
  • Investor
  • Rochester, MN
  • Posts 79
  • Votes 55

Awesome!  I like storage units, that's actually a good idea I didn't think about at first.  I'm also considering a separate living room space or maybe some kind of artist studio. 

Post: Monetizing under-utilized space?

Jeff RogersPosted
  • Investor
  • Rochester, MN
  • Posts 79
  • Votes 55

I enjoy finding creative ways to monetize normally overlooked spaces at my rental properties.  I've been successful at renting out detached garages on a few of my properties.  I'm soon closing on a multi-family property that has some extra space that's begging to find a better use.  Historically it was used as an office for the previous building owner.  First thoughts are finding a way for the tenants to use it for a fee, either rent the space monthly or create a space that can be rented on a per-use basis....or possibly rent to another non-tenant individual for office use of some kind.  Any creative ideas others have found successful?  I don't remember if there is a bathroom in the area or not, which of course is a downside.  

Post: Looking for Insight Into Duluth, MN

Jeff RogersPosted
  • Investor
  • Rochester, MN
  • Posts 79
  • Votes 55

@Jason Thon I'll add that @Brittany Kuschel is also a good connection to make!

Post: Looking for Insight Into Duluth, MN

Jeff RogersPosted
  • Investor
  • Rochester, MN
  • Posts 79
  • Votes 55

@Jason Thon  Hey yeah, happy to connect.  Both cities are awesome for investing.  Duluth's housing is incredibly diverse from a sub-market standpoint.  I'll shoot you a private message.

Post: Tenant property in public areas

Jeff RogersPosted
  • Investor
  • Rochester, MN
  • Posts 79
  • Votes 55

Hey Michael - that sounds tough.  I don't have the right answer but a few questions that might help you decide what to do.  Does your PM have a plan how they're going to handle it or do they need hand holding by you?  Check the lease - does it say anything about common areas?  Are any of their things violating any fire escapes?  What's stopping you from just giving notice to all tenants, or to the new tenant specifically, that the common areas need to be cleared of all personal items and will be removed in 24-48 hours if they're not already removed?  Good luck!  Keep us posted how it turns out.

Post: Is a sewer scope worth it in Columbus OH?

Jeff RogersPosted
  • Investor
  • Rochester, MN
  • Posts 79
  • Votes 55

I invest in older homes, short answer is yes, I think it's a good idea and I've added that to my list of due diligence.  

Here's my long answer.  What I've learned is that it's not always a black and white result at the end of the day...inspection good/bad, pass/fail.  You're not going to walk away exclusively with feelings of pain or pleasure as-in feeling like you "paid for nothing" or "overpaid" if no defects in the sewer line are found OR feelings of "it was worth every penny" or "thank god I had it done" if defects were found.  The intangible benefits you get is an education on the sewer line for that property specifically and of that vintage generally.  You get answers to many questions.  Does it still have a whole house trap? Should I get it replaced in the future? Do you as a newer investor know what that is? What kinds of plumbing materials were used in 1900? Are you able to get a video scope down a sewer line with a whole house trap?  Getting the inspection also affords you access to the inspector/plumber who is looking at hundreds of sewer lines everyday, probably of that same building age.  Take that opportunity to ask them if this inspection is typical or our of the ordinary with what they see, and why?  

Update the thread with what you decide! 

Good luck!

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