All Forum Posts by: Travis Hargreaves

Thank you Steven. Would this be an actual walk threw the property or based on the repairs that we are planning on making. Also to locate a BPO would that be a google search? My farm is Minnesota, more specifically Stearns County. 

Hey everyone quick question. We are looking at rehabbing a house and the current siding is lap siding. It does have some damage, but it can be repainted and repaired. We are doing a BRRRR strategy with this property. My question is does siding increase the value during the appraisal process very much? Our budget is aimed to improve the kitchen, bathrooms, and increase living area. To reside the entire thing would be a big time and capital investment. If it hardly affects the appraisal we are strongly considering repainting and repairing the current siding. What do you all think. Any help is greatly appreciated.

Hey everyone I have a question that has me hung up. I want to BRRRR a single family house that will be $90,000 to purchase $40,000 in rehab and $10,000 in fees just to be safe. We are basing this on an ARV of $200,000, but the amount of is significant I want to make sure my ARV is accurate based on the work we want to do. Has anyone ever hired an appraiser and paid in cash to come out to the property before it is purchased to go over all the spec to optimize the property based on current comps and trends? If so have you found this information helpful? Please let me know what you think. Thank you for your time.

Hey everyone I have a quick question. I am renting out a single family home on a corner lot with 0.4 acres. A tenant meets all of my minimum qualifications, except a large pet. She has a "Great Pyrenees, 90 lbs, 6 years old, house trained, and very friendly." She states he is a nice dog, but that is bigger than what I was hoping for. The neighbor does run an in house day care. So would this dog be to big and make it a deal breaker or you have had luck in these situations. Please let me know what you think. Thank you for your time. 

Hello everyone,

I have just purchased my first rental property in Elk River, Minnesota and was planning on using the forms provided by Brandon Turners book that I had purchased, The Book on Managing Rental Properties. In this book it had many great forms that I assume would work great for my rental property/business, but I wanted to confirm before making assumptions. Otherwise, I know biggerpockets does have rental forms for sale that are state specific. So I'm just wondering what other landlords like to use in Minnesota. Thank you for any advice.

Hello everyone,

I am closing on my first property in Elk River, Minnesota and I am wondering if the purchase of the home itself can be considered a tax right off. I know once it is purchased it follows the rules of deprecation, but can the initial down payment on a conventional loan be considered a tax deduction since the property is necessary to conduct the rental property business. Any help is appreciated. Thank you everyone.   

Thank you for all the helpful information, I will ensure my property has everything necessary to pass inspection during the rehab portion. 

Hello everyone,

I have completed my first rental property deal thanks to the education I've received from bigger pockets and its members. I am just wondering if anyone knows city specific (Elk River, Minnesota) regulations that must be followed to allow my property to be rented. It is a single family home with a previous owner statues of owner-occupied. I have done some research in my local farm area, but an expert in the local area with a list of do's and don'ts would be invaluable to allow this property to be a great rental. Thank you for any help.   

Hello Everyone,

I have just completed my first rental property deal in Elk River Minnesota and I am excited to start my journey into more projects. The real-estate agent that I have been going though is a sellers agent and live about 40 minutes from my farm area of Elk River, Otsego, Ramsey, Rogers, Albertville, Monticello, and St. Micheal. So much so that I felt guilty to ask for showings because I didn't want him to make such a long commute. He does great work, but there are to many limitations to continue this business relationship. I was wondering if anyone had the contact information of some great ones in the Elk River area who are investor orientated. I would like to do fix-and-flip projects as well as buy and hold rentals. Any information would be extremely helpful to improve my team members. I have learned a lot on this first deal and a excellent agent would really help. Thank you.  

Hello everyone,

I was wondering if anyone could refer me to a free form (403 K rehab loan) to print out in which my contractor can use to make a bid and scope of work. I already have my contractor lined up, but he has not worked on this type of lending product prior to this and would like something nice in which he can present to the lender. Let me know what you think.

- Travis