Comments on: Anatomy of a North Minneapolis Rehab

By: Jay

Jay — Thu, 10 Apr 2008 23:20:33 +0000

What is the typal amount of time on the market right now, once the property is ready for showing?

By: Misty

Misty — Sat, 22 Mar 2008 03:11:44 +0000

Phillips used to be exactly what North Minneapolis is now.
If you remember back in the late 90’s, you couldn’t walk alone in the Phillips neighborhood. Thanks to the Abbott homebuyer program, the Midtown Phillips grant program and the razing of some of those problem properties, Phillips is now a more desirable neighborhood.
There are currently very good people renting their properties out in North Minneapolis and they did everything they were supposed to do -by the book- who are losing their homes to forclosure because taking the tenants to court to get them evicted after three months of rent free living in the home is just too expensive. Not to mention the repairs to the home after the credit worthy tenants have ruined it.
While I agree that the wrecking ball isn’t always the answer, it is much better than having renters.
Homeowners take pride in their homes, when you have more renters on a block than homeowners, you have problems.

By: Investment Property

Investment Property — Sat, 22 Mar 2008 02:15:08 +0000

Misty-
Actually, you and I are on the same page. The slumlords are losing their properties and us responsible, decent investors are buying up those dumps and rehabbing them. We are essentially saving most from the wrecking ball. If you disagree, check out the 100s of vacant lots in the Phillips neighborhoods. Is that better?

North Minneapolis needs responsible landlords that will maintain their properties and properly manage their tenants. Our investors are pouring their own cash into that neighborhood to improve it and consequently improve the property values of the entire area.

By: Misty

Misty — Sat, 22 Mar 2008 01:40:00 +0000

Thanks,
That’s just what North Minneapolis needs is more people purchasing properties to rent them out. Why do you think
Minneapolis is pulling so many rental licenses? Most of these homes are rentals that slumlords stripped the equity on and left to crumble. We want home owners! Not more section 8’s!

By: Orlando Florida Real Estate

Orlando Florida Real Estate — Thu, 20 Mar 2008 14:09:44 +0000

I think rehab is one of the things that got me into real estate. I watched my father and he could fix most anything and rebuild and it looked wonderful. I love those TV shows as well for the before and after reveil. I also like design not wonder I like the idea of real estate right!

By: Florida Beach Condos For Sale

Florida Beach Condos For Sale — Fri, 14 Mar 2008 14:39:24 +0000

Good advice on plumber and electrician also good to have done professionally. Finding the right one is the trick. Ask around and get input from neighbors and realtors may know of a person to do quality work at a reasonable price and time.

This will allow you to focus on the demo and getting the walls, floors and other things done.

By: Ellijay GA Real Estate

Ellijay GA Real Estate — Thu, 13 Mar 2008 13:55:17 +0000

The number one thing people under estimate when flipping is expense and the other is time.

Having that in mind make a plan stick to it and choose time over the expense when you absolutely have to. Better to pay someone to do something then take two months to do yourself and pay mortgage and insurance etc.

By: Chicago Plumbers

Chicago Plumbers — Wed, 12 Mar 2008 18:50:49 +0000

Hi ! I have got the most invaluable information about hiring a plumbing contractor who makes more sense than doing it yourself. Firstly, a contractor can work with greater expertise and put his experience to best use. Secondly, contractors work within fixed time and budget, which may otherwise exceed expectations.

By: Florida Luxury Homes

Florida Luxury Homes — Wed, 12 Mar 2008 14:15:21 +0000

I love the before and after pictures they show what can be done. With a plan and formula for investment and return and a proven track record sounds like a winner to me.

I haven’t seen home prices like that in years in our area most are at least 200,000 for those small houses and thats even after the decline of the boom.