Archive for February, 2009

White House Saved From Foreclosure

Got you to look, didn’t I?!!
It sure looks like the real one in Washington, DC.  Actually, this one is in Georgia.  A guy in DeKalb County, Georgia built this replica of the White House complete with an Oval Office and Lincoln Bedroom.
Unfortunately, he fell on hard time and the bank issued him a foreclosure notice [...]

Got you to look, didn’t I?!!

It sure looks like the real one in Washington, DC.  Actually, this one is in Georgia.  A guy in DeKalb County, Georgia built this replica of the White House complete with an Oval Office and Lincoln Bedroom.

Unfortunately, he fell on hard time and the bank issued him a foreclosure notice for $1.7 Million.  A faith based coalition of churches and community activists came together and was able to get the bank to renegotiate the loan to make it more affordable for the owner to keep the property.

It is currently for sale for $9.8 Million.  If you can’t win the White House, maybe you can just buy it!  Read the full article here.

Minneapolis Investment Property Owners Workshop April 23 2009

DATE: Thursday, April 23, 2009
WHEN: 5:00 – 9:00 p.m.
(Registration at 4:30 p.m.)
PLACE: St. Mary’s Greek
Orthodox Church
3450 Irving Ave. S.
Minneapolis, MN 55408
Cost: $20.00 — checks payable to City of Minneapolis
(Includes cost of workshop, materials, DVD on Hennepin County Housing Court, and box meal.)
The Minneapolis Police Department and Minneapolis Housing Inspections are presenting this workshop. It provides [...]

DATE: Thursday, April 23, 2009
WHEN: 5:00 – 9:00 p.m.
(Registration at 4:30 p.m.)
PLACE: St. Mary’s Greek
Orthodox Church
3450 Irving Ave. S.
Minneapolis, MN 55408
Cost: $20.00 — checks payable to City of Minneapolis
(Includes cost of workshop, materials, DVD on Hennepin County Housing Court, and box meal.)

The Minneapolis Police Department and Minneapolis Housing Inspections are presenting this workshop. It provides owners and managers with valuable information, resources and opportunities to network with other property owners. Topics include:
• The ABCs of property management
• Working with the Minneapolis Police Department
• Working with Housing Inspections
• Tenant behavior issues
• The risk of lead poisoning
• Hennepin County Housing Court / mediation
• Networking opportunities

The information and forms are also available online at http://www.ci.minneapolis.mn.us/police/outreach/workshops.asp. Return the registration form and a $20.00 check payable to the City of Minneapolis by Thursday, April 16, 2009 to: RPOW-ISAC, 3000 Minnehaha Ave., Minneapolis, MN 55406

Questions? E-mail ccpsafe [at] ci [dot] minneapolis [dot] mn [dot] us or call the message line at 612-673-2812.

North Minneapolis Foreclosure Bus Tour

[ March 21, 2009; 12:00 pm to 3:00 pm. ] I am asked frequently where the best deals are for investors in the Twin Cities area.  Right now I would have to say North Minneapolis has the largest concentration of amazing investment property opportunities. For several years now, the majority of North Minneapolis has been going through a transformation. North Minneapolis Crime is down, [...]

I am asked frequently where the best deals are for investors in the Twin Cities area.  Right now I would have to say North Minneapolis has the largest concentration of amazing investment property opportunities. For several years now, the majority of North Minneapolis has been going through a transformation. North Minneapolis Crime is down, rental demand is strong, foreclosures are running rampant, and good deals are everywhere. Nice properties in nice parts of North Minneapolis are selling for $49,900, $39,900 and even $19,900.

We have put together a program for new and seasoned investors to capitalize on this perfect storm of investing and buy up properties that sold for up to $200,000 just years ago. Our team has assembled real estate agents, a general contractor, leasing agents, property managers, and the financing to make this a rare turn-key investment.

If you have ever been interested in the great opportunities in North Minneapolis, let us show you around. This is a rare bus tour where we will drive you around the areas, show you both rehabbed houses and for sale properties. The tour will leave at noon on Saturday, March 21, from nearby Robbinsdale and will take approximately 2-3 hours. We handle parking, finding the properties, and logistics. You simply sit back and listen and see how so many investors are taking advantage of these great deals. Because of limited seating, a reservation is required. Contact us now!

Contact us now by filling out the registration form or call me at 612-281-5419 for more information.

Impact of Minneapolis Foreclosures

Steve Perry at the MinnPost wrote a very interesting article about who is really getting hurt by the foreclosures in Minneapolis.  Mr. Perry interviewed Ryan Allen, an assistant professor of Housing and Community Development at the U regarding the research he has done into Minneapolis Foreclosures.  Professor Allen presented his findings last week at the [...]

Steve Perry at the MinnPost wrote a very interesting article about who is really getting hurt by the foreclosures in Minneapolis.  Mr. Perry interviewed Ryan Allen, an assistant professor of Housing and Community Development at the U regarding the research he has done into Minneapolis Foreclosures.  Professor Allen presented his findings last week at the State Demographic center and the Humphrey Institute.

You can read the entire interview here.

The Secrets of Buying Bank Owned Properties

[ March 5, 2009; 6:30 pm to 8:00 pm. ] Bank Owned properties constituted 60%+ of the real estate sales each of the last 3 months.  Buying these properties is very different than purchasing a home from a homeowner.  Banks have their own time lines, rules, documents, and requirements.  They can be confusing and lead to enormous frustration if you don’t know what to expect.

Attend [...]

Bank Owned properties constituted 60%+ of the real estate sales each of the last 3 months.  Buying these properties is very different than purchasing a home from a homeowner.  Banks have their own time lines, rules, documents, and requirements.  They can be confusing and lead to enormous frustration if you don’t know what to expect.

Attend this free seminar on March 5 to learn more about how to buy bank-owned properties.  There will be expert mortgage brokers and real estate agents on hand to answer your questions.  Register for the seminar by filling out this quick registration form or call 612-281-5419 for more information.

Saint Paul Proposes Required Landlord Training

The city of Saint Paul is debating an ordinance that would require rental property owners to attend a class every 2 years.  This class would be required in order to obtain or renew a rental license in St. Paul.  Read more about it at the Saint Paul Real Estate Blog.

The city of Saint Paul is debating an ordinance that would require rental property owners to attend a class every 2 years.  This class would be required in order to obtain or renew a rental license in St. Paul.  Read more about it at the Saint Paul Real Estate Blog.