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All Forum Posts by: Keith Fjelsted

Keith Fjelsted has started 1 posts and replied 52 times.

Post: MINNESOTA - Looking for LICENSED plumbers

Keith FjelstedPosted
  • Contractor
  • Rosemount, MN
  • Posts 54
  • Votes 23

We've used BOE plumbing (Steve) on  Kiowa St Mpls. and have been very happy with his work and prices.

Post: Business owner turning RE investor in Minnesota

Keith FjelstedPosted
  • Contractor
  • Rosemount, MN
  • Posts 54
  • Votes 23

Welcome to BP.

Post: Newbie moving to suburbs of Minneapolis

Keith FjelstedPosted
  • Contractor
  • Rosemount, MN
  • Posts 54
  • Votes 23

Welcome back to Minnesota (in December).   Best success to you and your husband. If ever we can be of assistance or if you have any questions let us know.

Post: anyone from Minnesota?

Keith FjelstedPosted
  • Contractor
  • Rosemount, MN
  • Posts 54
  • Votes 23

From Rosemount here.

Post: Who is responsible for permits/codes

Keith FjelstedPosted
  • Contractor
  • Rosemount, MN
  • Posts 54
  • Votes 23

I'm a GC in the Twin Cities (Minnesota) and any time we are doing an "Addition" regardless of it's size, I ask the city (or plan review, Bldg Official, etc) for anything and everything I may need to get through permitting in order to complete my project. That way there are no surprises. It's best to find out in the beginning than to be stumped along the way. Almost always, when you're doing an addition, the city will require variances/setbacks, a site plan, or updated survey. The GC should have known this regardless of not being familiar with the city. Hope this helps and good luck.

Post: Opportunity to flip without owning

Keith FjelstedPosted
  • Contractor
  • Rosemount, MN
  • Posts 54
  • Votes 23

Dave,

We flip properties for a living. It's a risky business as it is before adding in the situation you've explained.

The husband should not get ANY cuts for the hard work you'll end up doing. My first instinct would be to RUN, like Michael Short said. There far too many ways this deal can (and probably will) go south, and it'll be you that takes the hit.

Are you financially able to take a $10k-$20k- or $30k hit and not wince? I'd steer clear of this one. There are plenty of Good deals out there to make money on and not get personally involved with the homeowner(s).

Good luck whichever way you go.

Post: WHO ARE YOU? What do you do besides real estate?

Keith FjelstedPosted
  • Contractor
  • Rosemount, MN
  • Posts 54
  • Votes 23

I'm a General Contractor. We rehab and maintain bank-owned foreclosures, demo & rehab tax forfeited homes for the county, and flip homes for investors. My wife and I are looking for our first deal to build our own portfolio while continuing to do it for our investors.

Post: Minnesota real estate agent/broker

Keith FjelstedPosted
  • Contractor
  • Rosemount, MN
  • Posts 54
  • Votes 23

Welcome aboard Joel,

We do a lot of rehabs/flips and most of the properties are found by 1 or 2 realtors that keep the guys stocked on "Fresh" flip homes. The Multi-plex deals seem to be fading pretty fast and most cost a pretty penny right now. Let me know if you ever need anything. I'd be happy to introduce you to some Pros in the Twin City area.

Post: New Members from Louisville Kentucky

Keith FjelstedPosted
  • Contractor
  • Rosemount, MN
  • Posts 54
  • Votes 23

Welcome aboard Scott (and Sharon). BP has been a great place for my wife and I so far. There's a wealth of knowledge available. We're not experienced in deal analysis but, are experienced in rehabbing/flipping properties. We currently have 6 projects at different stages of rehab/flip. If you want to see how it's done in person (not like the TV shows, Lol), feel free to reach out. We have 3 in St.Paul and 1 in St.Louis Park that would be good to visit. We also have connections to investors that do the auctions, hard money lending, and various other financings we could introduce you to.

Have a wonderful day!

Post: New member from Isanti, MN

Keith FjelstedPosted
  • Contractor
  • Rosemount, MN
  • Posts 54
  • Votes 23

Welcome aboard Karen. Sorry to hear about your loss. I'm sure many of us have had them in one form or another. My wife and I rehab properties for banks and investors and are looking to start on our own investment properties. I'd say I wish you luck, however, in this business, it's not luck but hard work and determination that one needs to succeed and it sounds like you've got that already.

Have a great holiday weekend