All Forum Posts by: Jon Loca

This is a good post. Looking at these numbers wouldn't the alternative of investing in an index fund,which would return a very effortless 7-8%, be better?

@Shane Setzer undefined

Welcome Shane, 

I'm a fellow investor in NE. Good luck on your pursuit of a property. If you have any questions let me know.

@Dan D.

Dan, I agree with you on the working from note you made. In fact, I work from home 2 days every week. 

@Dan D. @David Krulac 

Dan and David,

Assuming that the baby boomers do stay in their homes, they will die and when they do, I really don't think there will be enough people to buy up the properties available in the burbs. The only way I could not see the above happening is if the population growth exceeds the amount of boomers dying or leaving for other reasons. This is a great topic, I'd be interested to hear what you two think. 

@Dmitri L. Telecommuting is becoming more and more popular. However, the example you gave are companies that are pulling back on their work from home leniency. Yahoo's CEO Marissa Mayer just cracked down on the policy and UHG (united health group) my friend works at and when they had layoffs they cleared out all the folks that weren't close to a central work hub aka telecommuting. 

I think this is a very interesting topic. I do think the suburbs are going to slowly die. The the reason I believe this is because the largest demographic of people in America, baby boomers, are getting to retirement age. I don't know about others but when I'm in retirement I don't want to spend my days maintaining a house that's way too big for 1 or 2 people. I'd rather be in something more manageable, nice, in a location that will be able to stimulate me and all my free time. For this reason I think that when the boomers start to abandon their suburbs for the cities you'll see an increase in supply without a match in demand. 

I'd be interested in getting other's opinions on this but here is how I see the demographics for suburbs vs cities: 

Not college educated - The folks will be in the same place they grew up - suburbs and cheap rent in cities

College educated - Ages 21-30 = cities, Ages 30 - 50 with kids = suburbs, Ages 30 -50 without kids = cities, Ages 50 + cities

@Marc Jolicoeur 

@Dave Crussel undefined

I would agree with Marc. I have recently purchased a property in Minneapolis and finding something less better than 1% of purchase price in a decent area is tough. It can be done even off the MLS but I've seen those properties being sold very quickly. You could try creative marketing or foreclosures but that depends on how much effort you are willing to put in finding deals and rehabbing properties.

Thank you all very much for your input. One important lesson I just learned is never put too much faith in an inspector. 

Hello BP,

I recently purchased a duplex as an owner occupier. On my first night at the duplex I took a shower, probably 10 mins, and my kitchen was flooded (my bathroom is right above my kitchen). It was a significant amount of water. I beleive that the inspector should have caught this issue and should be liable for my repair costs. Anyone know if I have a chance at going after the inspector for negligence on this item...... He also didn't inform me that the the gas dryers weren't hooked up or that the property needed 6 GFCI outlets installed.

Thank you all, 

I will use your recommendations. 

Hey Minneapolis BP people, 

I just bought a duplex as an investment property in Minneapolis and was wondering:

1) If the recommendation is to do my own taxes or to hire a professional?

2) If I were to hire a professional does anyone have a recommendation for someone in the Minneapolis area (Preferably a tax person that has their own real estate investments)?