All Forum Posts by: Jeff Rogers

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. 

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.  

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

@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.

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.

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!

@Shawn Frost  Hi Shawn! Welcome to BP! I'm also in Duluth, lets connect sometime.  There are a few Duluth or Superior based folks active in the forums with varying degrees of regularity.  A fair number of people with Duluth investments who are outside of Duluth area as well!  

Hey @Dallas Sauer, interested in learning more. Lets connect, I'll shoot you a DM.

Hey @Matt Wignall and @Elizabeth Sawyer, I'm always looking to make connections in the Twin Ports!  Let's connect!  

It's a tough market, but keep looking. Meeting anyone you can and telling them you're on the look out to buy just helps plant seeds.  Neighbors may want to sell, long-time investors want to retire and sell, younger investors want to sell by 1031 exchange, lots of potential sellers out there.  Matt, good luck with your conversation on the 12 unit building!

@Bryon Andrews @Andrew Sparks  Thanks for checking in.  I did close on the property and working on set up. I'm excited to see it come together soon! 

Andrew - glad to hear your property is doing well!