Archive for September, 2008
How to Get the House You Want
So you have been searching for that perfect house. You have seen 100 different ones, but none were exactly what you were looking for. As you drive up to the next house you start to get butterflies in your stomach. You open the front door and immediately know this is the one.
Now what? You just [...]
So you have been searching for that perfect house. You have seen 100 different ones, but none were exactly what you were looking for. As you drive up to the next house you start to get butterflies in your stomach. You open the front door and immediately know this is the one.
Now what? You just want to board up the house and not let any other buyers look at it. You tell your Real Estate agent to guarantee you can buy this house. Jen McKinnon, over at www.TwinCitiesRealEstateGal.com wrote a great post on to make sure you get that house. Go check it out at Twin Cities Real Estate Gal.com.
How TJ Waconia’s Legacy is Still Affecting North Minneapolis
Everyone in Minneapolis seems to have a different take on the TJ Waconia fraud cases associated with North Minneapolis. I don’t claim to know everything about it or even have an opinion if they are guilty or not. A great summary was written by MyFox9 News, with a nice counter point by the Minneapolis Mirror.
In [...]
Everyone in Minneapolis seems to have a different take on the TJ Waconia fraud cases associated with North Minneapolis. I don’t claim to know everything about it or even have an opinion if they are guilty or not. A great summary was written by MyFox9 News, with a nice counter point by the Minneapolis Mirror.
In April 2008, the City of Minneapolis “took charge” of 141 North Minneapolis properties previously owned by TJ Waconia. The interesting twist is these properties are no longer owned by TJ Waconia, but by the banks that foreclosed on them. Almost all of those properties are now on the market for sale via the MLS.
Recently, I was trying to write a purchase agreement on one of these properties. I spoke to the listing agent to see if the property was still available. They explained that they receently received an email detailing the following:
- A buyer would submit a purchase agreement as normal on one of these properties.
- Once it was accepted by the bank, the buyer’s agent would need to contact the Greater Metropolitan Housing Corporation, a non-profit.
- The non-profit will then have a new truth in housing inspection performed.
- The buyer will then be required to sign an assumption of all required repairs (which is typical with foreclosure properties).
- The buyer will also be required to submit a repair plan for the property including cost estimate, time tables, and contractor names.
- Once received, the non-profit will submit all this information to the attorney overseeing the lawsuit against TJ Waconia. He will approve the sale. How will approve it or what other information he may require is still uncertain.
- Only then can the closing be scheduled as the title company will need this approval in place to proceed.
Quote by listing agent for time requirement from acceptance to closing=90 days!
How does the City of Minneapolis believe this is going to help North Minneapolis? What buyers are going to wait 90 days to close on one of these 141 properties where there are almost 600 other ones to buy?
Financial Freedom 101
[ September 30, 2008; 6:30 pm to 8:30 pm. ] Erl Morrell-Stinson and Rob Bonahoom will share what it takes to create the mindset to build long-term sustainable wealth. Then we will show you some specific tools build your wealth in half the time through proven debt reduction strategies. I encourage every investor to attend this seminar.
Date: September 30 , 2008
Time: 6:30pm
Location: Burnsville, Minnesota
Register for the seminar [...]
| September 30, 2008 | ||
| 6:30 pm | to | 8:30 pm |
Erl Morrell-Stinson and Rob Bonahoom will share what it takes to create the mindset to build long-term sustainable wealth. Then we will show you some specific tools build your wealth in half the time through proven debt reduction strategies. I encourage every investor to attend this seminar.
Date: September 30 , 2008
Time: 6:30pm
Location: Burnsville, Minnesota
Register for the seminar by filling out this quick registration form or call 612-281-5419 for more information.
Investment Property 201 Seminar
[ September 16, 2008; 6:30 pm to 8:00 pm. ] Our monthly Investment Property 201 seminars continue to draw large groups and great interest. Our September seminar is titled:
Landlords: Read Your Leases
A lease is an essential tool in the landlords belt. It is equivalent to a tape measure for a carpenter or a wire cutters for an electrician. But sadly, how many landlords have read [...]
| September 16, 2008 | ||
| 6:30 pm | to | 8:00 pm |
Our monthly Investment Property 201 seminars continue to draw large groups and great interest. Our September seminar is titled:
Landlords: Read Your Leases
A lease is an essential tool in the landlords belt. It is equivalent to a tape measure for a carpenter or a wire cutters for an electrician. But sadly, how many landlords have read this important document from start to finish? I bet you haven’t. Whether you are a new landlord or an experienced one, this seminar is for you. Come and discuss different lease options and clauses. Learn subtle ones that can help you and others when left out that can hurt you.
Bruce Zimmerman, from Reliafund, will also talk about how to have the rent automatically transferred out of your tenants account and into yours each month for a tiny monthly charge. No more chasing rent checks down. Just check your bank and confirm the transfer happened.
Date: September 16 , 2008
Time: 6:30pm
Location: Burnsville, Minnesota
Future seminar dates are: Oct 28
Register for the seminar by filling out this quick registration form or call 612-281-5419 for more information.
New Site Design
I decided to upgrade the look of the site. The old design had been with me for 12 months and I just thought it was time for an update. I hope you like it. Now you can see when the next Investment Property seminar is coming up and the top posts. It is also much [...]
I decided to upgrade the look of the site. The old design had been with me for 12 months and I just thought it was time for an update. I hope you like it. Now you can see when the next Investment Property seminar is coming up and the top posts. It is also much easier to sign up for the posts via email in the first sidebar.
If you are a RSS Reader, come over to www.MinnesotaInvestmentRealEstate.com and check out the new design.
Hope you like it. I do!
Scott
Investment Property Blog-Tenants
You could almost argue that this entire blog eventually ends up at Tenants. They are why we are in business. They are the customers. They are the headaches. They are the money (inbound from rent and outbound from repairs).
Here are just a few of the best posts from the last 12 months about tenants:
Once a [...]
You could almost argue that this entire blog eventually ends up at Tenants. They are why we are in business. They are the customers. They are the headaches. They are the money (inbound from rent and outbound from repairs).
Here are just a few of the best posts from the last 12 months about tenants:
- Once a Bad Tenant, Always a Bad Tenant
- Investment Property Rent Collection
- Can’t Evict if Always Late on Rent!
- 7 Secrets to a Happy Tenant
- Reverse Prospecting for Tenants
- Section 8 or Not Section 8
As I tell my new investor clients, “being a landlord is unlike anything else you have ever done”. It is good to read everything you can about being a landlord and managing tenants.
