All Forum Posts by: Jessica Wood

Put a new modern black fan in the room with wallpaper on ceiling. MYch bigger TV in living room. The wall in living room with sconces on it, or whatever those are, needs a big modern piece of art. 

Electrical. If you have to redo all knob + tube that’ll really affect your cash flow. 

@Tucker Walser sounds great! My husband and I love any excuse to go to the Wayzata Caribou. Would love to meet up and chat real estate. 

@Tucker Walser Crazy! I grew up at that church. My mom now lives in Minnetonka so we do come up occasionally!

@Tucker Walser Wayzata Community Church & Wayzata Country Club (reception). We live in Clear Lake. We own and manage 14 doors here, one condo up in MN in Edina.

I live right near Mason City. My husband is a realtor and sent me this post. I am certain you know there are parts of Mason to avoid but there’s also a brand new arena that just opened there. Definitely high cash flow but I wouldn’t bank on much appreciation. 
I looked you up on Facebook since nobody has ever posted about our market here before, I see you’re from Wayzata. I am from Orono and we got married in Wayzata. Small world. 

Hello - I am looking at paying cash for a property on auction.com. Bid is at 85 and I am thinking resell is close to 130k.

It says the property is occupied. Does this mean I have to go through the eviction process? Has anyone dealt with this? I am also super unfamiliar with this process. If I win the auction - then what? I am bidding from out of state but only 2 hours away. Advice?

@Tom Webber - so in Iowa do you only need a real estate SALESPERSON license to be a property manager?

We are thinking of starting a property management business in which we manage mostly short term rentals for owners of vacation homes. My husband is a real estate agent but I don’t want his broker taking a cut of all of our profits. Does my husband need to be a broker then?

@Greg Dickerson I am glad to hear you think so!  There is a LOT of equipment in the space. The current tenant upgraded a lot of it. It’s all clean and regularly maintained. We will definitely vet the tenants. 

Hello! We own 11 doors, 3 of which are Airbnb's and we live in a resort town. So far I've only invested in Multifamily but we've learned of a property for sale for roughly 430k that is currently built out as a restaurant on the main floor but the upstairs is built out as a condo but without kitchen or shower (would require 40k to make it airbnb worthy.). The current tenants pay $2600/month Plus all utilities on a contract and they want out. We think we could get $3000/month on a NNN lease for the restaurant area (huge clean kitchen) and $300/night for the airbnb which would be booked VERY often (highly desirable location) and the space is amazing with a lake view.

What am I not thinking about besides restaurant vacancy and the fact that I have zero experience owning or even looking at a restaurant to determine what makes it “good”? It’s very clean.