All Forum Posts by: Kunal Lakhwani

My property was broken into and there are signs of drug use, copper pipes were stolen, appliance control boards stolen, damages caused, camera system was stolen too, and much more.

How does insurance look at this?

Hello,
I am looking for a new PM to manage my SFR in St Paul. I also need some updates and fixes to be done in the SFR, as well as my 4plex in Minneapolis.
Any recommendations are welcome!

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Lucien.

Purchase price: $790,000
Cash invested: $153,000

Each unit is 3bed 1bath, offered as a furnished rental for 30 days minimum

@Wendy Man  I went with MN Property Nerds, but it was the worst decision of my real estate career so far. Any other company would probably be better than them, in my experience.

I am currently under contract on a 4plex in Minneapolis MN, that will be operated as a midterm rental. It will be fully furnished and rented to traveling professionals such as traveling nurses, interns etc. for 30 days or more.

I am looking for a property manager who can help with operations like leasing, upkeep etc.

@Bruce Runn do you happen to know someone who can help understand the benefits and how to take advantage of them?

@Steven Foster Wilson Saint Paul, Minnesota

@Bruce Runn thank you for your responses.

I am not able to connect with the 4D department. Looks like Dean is out on parental leave, and there is no one else to pick up the phone.

Apart from property tax credit, what other benefits do you see, and have been able to take advantage of?

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $175,150
Cash invested: $40,000

Numbers-
Purchase price: $175,150
Initial investment (inspection, down pymnt, closing costs, repairs etc.): $40,000
Loan amount (80% LTV): $140,120
Interest rate: 4.875%
Monthly payment (principal, interest, taxes, insurance): $1013
Monthly rent (gross income): $1795
Property management: 7% ($125)
Vacancy: 5% ($90)
Maintenance: 5% ($90)
CapEx: 5% ($90)
Monthly cashflow (net income after all expenses and reserves): $387
Annual income (net): $4640
Principal paydown: $2100

Investment Info:

Single-family residence buy & hold investment in Indianapolis.

Purchase price: $142,000
Cash invested: $37,000

Numbers-
Purchase price: $142,000
Initial investment (inspection, down pymnt, closing costs etc.): $37,000
Loan amount (80% LTV): $110,400
Interest rate: 3.625%
Monthly payment (principal, interest, taxes, insurance): $643
Monthly rent (gross income): $1350
Property management: 8% ($108)
Vacancy: 5% ($67.5)
Maintenance: 5% ($67.5)
CapEx: 5% ($67.5)
Monthly cashflow (net income after all expenses and reserves): $366
Annual income (net): $4400
Principal paydown: $2200