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All Forum Posts by: Mark S.

Mark S. has started 9 posts and replied 511 times.

Post: Cash Purchase, LLC insurance and exposure

Mark S.Posted
  • Real Estate Investor
  • Saint Paul, MN
  • Posts 522
  • Votes 455
As Jason said, the owner will be the insured but I believe you can have you and your wife named in the policy as well - additional insureds or interests.

Post: Rental Kitchen Cabinets: Is it worth it to buy more expensive?

Mark S.Posted
  • Real Estate Investor
  • Saint Paul, MN
  • Posts 522
  • Votes 455
You might want to put one of those plastic pans under the dishwasher. We do that in all our kitchen renovations

Post: Rental Kitchen Cabinets: Is it worth it to buy more expensive?

Mark S.Posted
  • Real Estate Investor
  • Saint Paul, MN
  • Posts 522
  • Votes 455
We use IKEA in our rentals. These are typically in A markets, so we pair them with granite countertops and new stainless appliances. They are inexpensive, easy to I stall, look great and have held up well for us.

Post: Include appliances or not in rental?

Mark S.Posted
  • Real Estate Investor
  • Saint Paul, MN
  • Posts 522
  • Votes 455
We include all appliances, including dishwasher and W/D. Required in our market and price range ($1500+ monthly)

Post: Balancing Cash Flow and Appreciation

Mark S.Posted
  • Real Estate Investor
  • Saint Paul, MN
  • Posts 522
  • Votes 455
I would take modest cash flow with a realistic opportunity for appreciation any time. The combination of leverage and LTCG tax treatment when exiting more than offsets additional cash flow. But I am not relying on the cash flow to pay my living expenses - others may be in a different situation.

Post: any investors do the dirty work??

Mark S.Posted
  • Real Estate Investor
  • Saint Paul, MN
  • Posts 522
  • Votes 455
We do much of the work ourselves. In fact, I just got home from laying subfloor. Although we have found there are some things you are just better off hiring out, such as sheetrock work - and of course trades such as electrical and plumbing.

Post: Recommendation wanted for ceiling scraping

Mark S.Posted
  • Real Estate Investor
  • Saint Paul, MN
  • Posts 522
  • Votes 455
Ray makes a great point. We had one of those situations recently and it was easier to just rock over the popcorn - plus you get a nice clean surface for flat or knockdown finish.

Post: Recommendation wanted for ceiling scraping

Mark S.Posted
  • Real Estate Investor
  • Saint Paul, MN
  • Posts 522
  • Votes 455
There is a tool they sell at the big box stores like HD that you attach a small plastic bag to (like you get every time you go to the store). The bag catches most of the material as you scrape. Just spray, scrape and toss the bags as they fill up. I would test for asbestos as well if it is pre-1980.

Post: Best types of apartments?

Mark S.Posted
  • Real Estate Investor
  • Saint Paul, MN
  • Posts 522
  • Votes 455
Cash flow isn’t great but the market is exceptionally strong for the right neighborhoods. Renting is easy and appreciation has been strong, which is my primary goal.

Post: Best types of apartments?

Mark S.Posted
  • Real Estate Investor
  • Saint Paul, MN
  • Posts 522
  • Votes 455
I have had some good results in that sector, but mine are perhaps more in the A category. Tenants take good care of the property, tend to be stable, rent checks show up on time.