All Forum Posts by: Kristen Schade

So, the length is not really predictable...but there are unique options that will give you more control over this, like Cantor Fitzgerald has some 721's , and then there is a secondary market that Inland Capital has..I think it is them.. I use Joe Sera to assist me with purchasing my DST's. I have Dst's from Capital Square, Inland Private Capital and BK Trust and these are all good companies in my opinion, I located DSTs direct through them before using Joe but Joe does a flat fee deal and rebates you back some of the commission (they have to stay in the deal, but at least you keeping more of your equity in the deal). I think Joe Sera is on this site, but he is at : Joe Sera, Vice President Sera Capital Management, LLC. Direct: (443) 247 - 5391 | Cell: (443) 223 - 0371 Schedule a Call | File Drop | www.seracapital.com

@Paul Moore what are the companies where you can go direct??  I am looking to do something but a bit hesitant with the up front fees especially given the limited upside and risks involved in today's market.  Thanks!

Currently, the city of Minneapolis will not let you get a rental license for both a single family home and an ADU on the same lot - one has to be owner-occupied. I wonder if they will change this law with the 2040 zoning to allow 2 rental licenses on a single family lot... I have a little investment property on Xerxes by Linden Hills park that has a newer garage building I was considering converting to another unit if it could be rented out.

Hello, 

Congrats on your new adventure! Are you currently renting now or do you own?  The reason I ask is that I ask is that there are some very good first time home buyer programs in the Twin Cities that you may qualify for if you've been renting for at least 3 years. 

Yes, FHA can be used to buy a duplex and they may actually give you a fairly generous credit of the estimated rent towards your income for qualification purposes, which might be very important for a self-employed person.

As far as the area to settle in there are plenty of great communities in the Twin Cities that might fit the bill. Your Target price point and mortgage payment is going to decide where you should be looking. And then, if you have kids, schools will probably be a big concern so that is where you're going to spend a fair amount of time researching and deciding where you want to relocate.

 Also, you're going to want to stay out of some cities that will actually tax the heck out of your business if you're not careful or have ridiculous license fees.

There are some cities in Scott County like, Savage and Shakopee that are in a great centralized location with a varied housing stock and reasonable business environment.  Also, Chaska in Carver county or Plymouth and Maple Grove in Hennepin county.

I run a real estate brokerage company in the Twin Cities with my husband and we would love to give you some more advice and assistance if you're not working with another realtor.  We can help you with pinpointing areas where you will want to buy a home, so if you rent for a bit, you won't have to relocate your family too far for the move.

It would be nice if the kids didn't have to switch schools and if you didn't have to relocate your business a large distance which could add complications.

The right City or neighborhood for you is going to depend on your Target price range and what's most important to you and your family as far as schools, proximity to parks, recreation, etc., While still being in an ideal location for your business. 

Luckily, there are quite a number of areas that should fit the bill and this is a incredibly rich Market as far as reaching a large number of consumers...so hopefully you will see some solid growth in your business. Let me know if we help further and best of luck!

People don't always want to deal with deferred maintenance but the basement units that are torn down to the studs probably means there was water damage by water intrusion and/or burst pipes and that may be more of a concern to buyers.  Plus it may be hard to finance in the current condition.  Water issues and mold ca be a nightmare especially in a rental due to liability issues.  Best of Luck, sounds like a bit of a project property.

Real stucco old older homes in Minnesota is not usually a huge concern.  It is the, "newer," stucco on air-tight Minnesota homes where poor flashing around windows and other areas often causes moisture intrusion and then the stucco, "locks in," the moisture and causes huge and expensive problems down the road.  Search Woodbury and Stucco if you really want to be freaked-out about new stucco homes, it talks about a large percentage of homes in this ares that needed 10's of thousands of dollars of repairs due to poor stucco installation.

Structure Tech in Minneapolis purchased the company in Minnesota that was the lead stucco testing company and they can pin probe the stucco in certain areas to check for moisture intrusion, but this is a very expensive test ($300-$800 depending on the number of probes).  They also can use a infrared camera or a borescope to do an inspection at what may be a lower cost, but they usually only use these for newer stucco homes since that is where the problems normally area. 

Older stucco homes are usually breath enough to where there are no issue with moisture collecting and causing issues like in new stucco construction.  Upon home inspections where I have worked with buyers or sellers and older stucco homes, the inspector will usually will advise the buyer to get the seller to patch any cracks (make sure you use the right stucco patch and elastic paint) and we are good to go.  So you should be OK with old stucco, but I would call a good inspector like Neil from Structure Tech if you have any specific concerns.  Best of Luck!

If I use my own title company and pay for my own owners policy (this is a on a REO property) will I still have to pay some fees to the seller's title company?? I can't get a straight answer out of Auction.com and I see folks on this site claiming they had to pay exorbitant fees to the seller or Auction.com's title company in these auctions. I don't see why the BUYER would pay a title fee for the seller. It is customary in my state (MN) for both the buyer and seller to have their own title company and pay their OWN fees. Then both the buyer and seller pay a fee of about $250 for closing or settlement to the buyer's title company where the transaction is normally closed.

Is this true?  I need to pay for my title company AND the sellers if I go through Auction.com?  The home is in MN where it is customary that the buyer and seller each have their own title company and each pay for their own fees or share of the closing costs.