All Forum Posts by: Mark S.

@Ian Hall PM me for an accountant recommendation.

@Melonie Dickson. Keep in mind that there can be a wide range in the quality of inspections. I have seen some that missed pretty obvious issues. Not to make this even more challenging for you, but if you get an inspection make sure it is from someone who has a very good reputation for being thorough.

@Brian Washburn I’ll buck the trend here a little. It gets rather cold in Minnesota in the winter (and sometime spring and fall) and we have found that tenants really prefer carpet in the bedrooms. Laminate, vinyl or tile everywhere else though. It is so easy and inexpensive to replace carpet in a couple bedrooms every five years or so that we go that route. But we tend to have long term tenants that take care of the places (A class neighborhoods)

I can refer you to a good structural engineer who inspects that sort of thing for me.

No I don’t think so if it has been formally decommissioned (forget the actual word). My understanding is that most denominations have a process for that. I would check to see if that took place.

Get the new roof. Most buyers these days want things ‘easy’ and don’t want to deal with issues.

Hi Austin. I would be interested in connecting with you. I am a Twin Cities investor who has been looking into this and actually identified a zone my partner and I are considering for investing. As I understand it, you need to improve the property by at least 100%, which means build or major renovation. We are considering building a fourplex in the zone we have identified if we can find the right lot or tear-down opportunity.

I agree with Joe. One time pass due to circumstances. This reminds me of one of my tenants who was late one month. Turns out they had changed banks and my payment just got missed in the set up. I gave them a pass. It’s been three years and running and they have never been late with any other payments.

Don’t be looking at Minneapolis for great cash flow! It is an appreciation market here, certainly not CF. Anyone that says otherwise is not in this market.

Thomas, I have to ask how 8% can be considered meager?