All Forum Posts by: Amber Gonion

@Jeremy Muehlbauer if you can get it at 1.1M you can at least trade money instead of lose money each month, but you need to be prepared to hold it through a housing dip. Rents should be increasing and start to give you some cashflow and this property being in Edina will look much better the longer you have it.

@Wendy Man we do not supply salt, the worry would be that if they run out and then slip and fall they would blame us. It infers responsibility, having a disclaimer in the lease and putting the responsibility on the tenant is the best option along with requiring tenants to have 100k in renters insurance, as well as having proper insurance ourselves.

This would of course apply to sfh, th, and small multi units. 10-unit and above should have enough maintenance to provide and clear ice daily as needed.

As far as salt, calcium chloride is the best as it is safe for concrete. Sand is helpful when the ice is too thick to melt quickly or really cold temps slow the process.

If you have a lot of properties you can buy a pallet of bags at US Salt, otherwise we would get them at local big box hardware.

@Chris F. We charge 1/2 months rent for 1-year lease, $75/mo per unit management, and $60/hour for maintenance.

@Michael Nahm as long as the smoker agrees to go outside or in the garage to smoke it shouldn’t be a problem (be sure it is in the lease and do a walkthrough sometime after move in to confirm).

If he has a great credit score he likely follows rules. We have all kinds of tenants as we have our own properties and manage for others. Some tenants will tell you others will not the next one may have shaky credit and lie about smoking. We have not have an issue dealing smells or paint we use kills for the paint prep and ozone for the smell and have had great success. Our company in addition does remodeling projects for clients and we come across cat urine, smoking, pets smells, mold etc. it can be a pain if they are smoking every day inside, but with proper methods most can be dealt with.

For reference with pets we require a $500 deposit($150 is non refundable) and charge $40/mo for dogs and $30/mo for cats if you have a dog for a year that’s an additional $480 plus you have the pet deposit and one months rent. If you don’t allow pets they will just get a letter online and you will not have any additional rent or deposit.

@Benjamin Knight we can help you out.

@Rahul Gupta of course as a management company I would be biased. I can not imagine showing, confirming tenants have left, providing keys, evaluating deposit returns, and so many other things. Hiring a management company is essential unless you have family or friends in town that can do sone of these things for you.

@Eric Hempler rental estimates after rehab are most important, and subjective. Most of these properties are are selling with little current cashflow, they are banking on future returns and equity growth.

@Gregory R Ley we would be happy to walk through with you to give you an idea of where you would get bang for your buck. We have a rehab crew and do rehabs every month.

@Gregory R Ley our management portion of our company has a full time maintenance crew that does rehabs. We go over the property to figure out what needs to be done for the best returns on rent. We created our crew with specialized personnel after waiting too long for contractors to sync up schedules.

@Jeremy Dockendorf. We are in the area you are looking. With that chain I would worry less about the beach area since they have the island to hang out and access to the restaurants and such will be more important. Chemically treating the shoreline is not that expensive and can take care of those issues, permits are easy.

Proximity on that chain makes a difference also as the north side is less desirable than the south as travel time is a factor.