All Forum Posts by: Jackie Sladky

We have tenants who stored flammable items in their unit, in violation of the lease, and removed them when told.

Six months later there was a leak in their unit and when the handyman came it to fix the leak, he informed us that he saw the flammable items back in the unit. Do they have the right to deny entry when we give them a 24 hour notice to enter for inspecting the place to ensure that they still do not have no flammable items?  That is, they can state that the request does not have valid reason and that they already removed the items six months ago.  These are hard to work with people that we inherited from the seller, and we still have quite a few months in the lease to go with them. 

Thank you, everyone, for replying.  The area in question has no driveway, just parking spaces.  The driveway is plowed.  I've asked the tenants, and it was never plowed in the past, so based on the info I've gathered, I am paying one tenant to remove the snows on sidewalk, walkways, steps,.. but not the sparking area, and all tenants have access to snow shovels on location.  

We’ve purchased a triplex in Minneapolis this year which has a parking area in the back, and we do not charge tenants for parking. In the winter, do landlords of multi-unit properties provide snow removal service for parking areas? That is, besides the snow removal service for the walkways, sidewalk and stairs, will we need to provide snow removal for the parking area?

The foundation of our fourplex has the eroding limestone and mortar issues, and it's time for us to re-enforce the existing basement walls and stop the deterioration.  Anyone knows of a concrete company doing this type of work please recommend.  I know that we need at least one side of the building needs work.  The building is near the uptown area.

@Bruce Runn Your properties should be selling like hot cakes! Yes, I remember we conversed on couple real estates topics, and I am glad that you are as busy as ever doing what you enjoy.

@Alyssa Strom I agree that there is always something new to learn, especially for people with little experience like me.  Thank you.

@Tim Swierczek thank you for reaching out, and that is exactly what I have been looking for. 

@Jake Stuttgen Glad to know that you have had success.  I'll share the list from Tim.  I am just started looking again.  Right now, we just have a fourplex here and a condo in Atlanta.  We manage our properties and love our tenants.  

My husband and I are casual buy and hold investors. Three years after buying our first fourflex and busying with life, we have moved to the Minneapolis Metro Area and are actively searching again for various type of properties. We are working with a real estate agent who is also a trustworthy friend. In the last years, I spotted three properties on the MLS and purchased based on his advice and local experience.

The price of duplex and triplex seem to be always too high for me. We are open to sizes from fourplex to large multifamily. We are in the position to move fast, but I am not sure if we are too cautious because I haven’t seen anything that excites us. It’s winter here but wow, buyers are flocking around any seemingly good deals.

Perhaps we should be more active and connect with other investors, and I believe we should attend a couple meetups when possible.  I've never been to one and always believe that it's for the "pro" investors.

Thank you for your reply Wayne.  I agree that not many people can or want to guarantee anything, so if they do, I'll be surprise.  I was wondering if they were scammers, but it seems like you mentioned, just a group of beginners trying to make money off my property.  

I own a townhouse for sometimes and want to rent it out and then sell before the three year mark.  An investment firm contacted me and wanted to start a rent-to-own agreement.  They will have to find a renter within 2 mos, which is easy.  I've never done this before, and if the deal works out, it will be good for us, as we'll have a buyer at the end of two and half years.  

The rental price is firm, and if we can agree on the selling price, I don't know what else to look for in the offer that this investment firm will send me.  Definitely I will have a lawyer looking at it, but I want to do some checking myself first.

Some questions to experienced members:

Would the fed consider the sell date 1) the start of the rent-to-own agreement or 2) the date that renter/buyer actually buys the property?  My reason for asking is that I do not want to lose the $500k tax exemption.

We have a loan of about $250k.  Would the lease agreement triggers a due on sale clause?  The investment banker mentioned that the tenant can/will take over paying the mortgage, but I don't really know the details yet and what is best - for me and the prospective renter/buyer.

If we don't do this rent-to-own deal, I can get a tenant in within one month.  I am not sure which way is simpler.  It seems that the rent-to-own is an easier option for us, if things work out.