All Forum Posts by: John Newhall

Required Property Disclosure? If it's being sold as part of an estate they don't have to do a disclosure.

Sometimes s#%t happens. You fix one thing and it puts additional stresses on other components and they break. Unless you could find another contractor to explicitly say the previous one was negligent, you're probably out of luck taking them to small claims court.

Yes it can be done, especially by banks that are looking for owner occupants. The problem arises when the banks won't make repairs and FHA demands them. FHA gets very picky about things like peeling paint, broken or cracked windows, missing railings etc..

Assuming you have the funds take a screen shot. They will want your name on the statement but you can blackout the account number.

It all depends on the individual and their amount of motivation. Somewhere around 90% of RE Agents leave the profession within a couple of years. Of the remaining 10% some of them are fabulously successful. The RE company I belong to has 1000 agents and over half of them made $100,000 or more in commissions. 5 or 6 of the agents made over $1,000,000 in commissions.

There are also RE Investors that are doing fantastic. They have their systems in place to find properties and their goto crews for repairs or rehabs.

Both of these professions can be a pathway to great success or a path to poverty depending on your individual skills and motivation.

Very nice job!

Tell your agent to put on their Sherlock Holmes cap and starting ringing doorbells. I recently tracked down a lot owner, for a client, by going to her apartment and ringing the doorbell. The intercom system was connected to her cell phone and I reached her at work.

Also have the agent see how far behind they are on the property taxes. If they have an 80% vacancy rate I beat they aren't paying the taxes.

@Alex Winder,

You've certainly come to the right place for information and support.

2 lenders I've had great luck with-

Mikal Knotek at Bell Mortgage

Pat Gleason at Alerus Financial

Both of these lenders get loans closed.

I can't address the relationship you have with your Broker but other things to consider-

In MN you have to acknowledge your an RE Agent. This means you have to declare on your "Bandit Signs" the name of the Brokerage and your name.

Any house you put under contract you have to tell the seller your an RE Agent.

Any potential buyers you have to tell you're an RE Agent. (Sheep and wolves analogy).

The MN Commerce Dept. isn't bashful about fining agents $10,000 or more if you violate their rules.

Welcome Anna!