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7 April 2020 | 9 replies
It's a rare circumstance where I prefer to I prefer to inherit a tenant with the property, almost always prefer vacant.
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10 April 2020 | 9 replies
But, I believe urban areas, like Minneapolis/Saint Paul where I am, will see a large temporary loss of STR inventory, and most of that loss will be from the bottom of the barrel, because they aren't profitable enough to justify the risk, but the highest performing STRs will of course stick around, because they're doubling or tripling income from LTR.I also own a duplex in Rochester, MN a few blocks from Mayo Clinic, that I'll be putting half of onto airbnb when it's done (I wish it was ready so I could help some healthcare folks out).I think it's like most industries though, the most robust and efficient businesses will withstand this crisis, while the weaker, unfortunately, might not.Just to predict, I think across the airbnb platform we'll see a temporary (maybe up to a year after the crisis comes to an end) drop of inventory around 10-15%, but I think bookings will drop by less than that amount (after the quarantines stop).
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4 April 2020 | 12 replies
I understand your wish to pay a reduced rent and, were it a circumstance that was under our control, I would likely agree.
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6 April 2020 | 20 replies
The single family house does not have a garage so unfortunately no their isn’t a market for that. best of luck on your second deal hopefully it isn’t so, complicated like mine.
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3 April 2020 | 3 replies
Unfortunately, there is plenty of repair work to be done and I had lined up several contractors over the course of the subsequent weeks.
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13 April 2020 | 1 reply
Just curious if anyone here on BP has actually had COVID-19 (Coronavirus) personally.There are a ton of members here and I see countless posts about the virus but I haven't seen anyone who has actually contracted it.I'd be curious to hear what your experience was (or is) like and how you are holding up both physically and mentally.Many people have mentioned their tenants getting infected but I'm specifically interested if any member here has gotten it.If you've been (or are) infected with this horrendous disease and you're willing to share your story/experience I think it would be helpful to a lot of us to hear from someone first hand rather than through news/media outlets and third parties.With that being said I pray that nobody here has been in this unfortunate situation and I hope you all stay inside and stay safe!
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4 April 2020 | 6 replies
As always, consult your tax advisor about your specific facts and circumstances to be sure.
6 April 2020 | 12 replies
This is a different circumstance we are dealing with.
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12 April 2020 | 13 replies
The house inspector was speaking more generally and said that he has seen grown men crying about the damage termites can leave...Yesterday we had the CL100 and unfortunately they found signs of previous termite damage and signs of treatment.
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4 April 2020 | 10 replies
That is absolutely, not ok, in any circumstance.