All Forum Posts by: Brittany Kuschel

@Dan Manion totally makes sense. Hope you're able to get it rented quickly and for top dollar! Reach out if you're ever in the area and want to connect. Also, I run the Duluth Landlord Association and can get you added to our email list if you're interested in being included for future meetings (we meet in person and via zoom). Hoping to cover 1031 exchanges in next month's meeting!

Awesome news @Dan Manion! Congratulations on the acquisition!!! We love the diversity of investing in the Duluth area. 

Reach out if you ever need help finding contractors or good contacts to assist with repairs/renovations. 

Do you mind sharing who you plan to have manage the property? I'm curious to know who is doing a good job on the communications front serving out of town investors and I always appreciate learning more about how the local PMs are working to improve service for the out of town landlords as this represents a healthy percentage of our client base.

@Dustin Horner What part of MN is the property located in? Price may be the biggest issue impacting your vacancy. In our local market many areas have extremely limited options for rental properties and units priced appropriately are typically filled quickly. With different rental approaches such as Mid-term (or month to month), we also frequently adjust and re-evaluate pricing in the off-season or winter months as needed in order to get a unit filled and avoid long-standing vacancies.

Depending on your focused market, I can recommend a solid investor-focused lender that may be a good fit to strategize on how to get you into your next property. 

Another avenue to consider would be "subject to" deals but those are not widely available and can take some time to sift through the overinflated offerings to find the right property. Me and my team would certainly be open to a quick consult to talk through your goals further and help unpack some potential additional approaches you may not have considered.

Congrats on the recent acquisition!

@Taylor Silker Love to see that you are actively taking this on! Do you mind sharing the name of your company - maybe you could PM or text me? I am confident that I can send business your way as a number of clients are actively looking for more PM options for STR in Duluth and surrounding areas!

@Trevor Schmitt

Hello! I'm always looking to connect and network with like-minded investors and industry pros. My husband and I own a few rentals in Northern MN (all long term and one mid-term). We are working on getting our first STR up and running after just getting our conditional use permit!

By day, I run a real estate team in the Twin Ports, Duluth - MN area  - Kuschel Realty Group.

My husband went to NDSU and we have enjoyed a few weekends/outings in Fargo, but we haven't been back to in a few years. Are your STRs in the Fargo area? Would love to connect with you and learn more about how your STRs are performing!

Brittany Kuschel

@Matt J. Hey! I am just now seeing this - one of my besties (formerly from Duluth) moved to Arizona a few years ago and is a licensed Realtor in the PHX, Scottsdale area. I know she and her team lead have done a great deal of business with investors who utilize the STR approach in and around that area. She's not a BP contributor, but I'll shoot you an email with her contact info.

@Prestin Sokoloski saw this post and thought of you!

@John Woodrich Is a great resource and option and in the tax arena! He is also an investor so has a good handle on those tax benefits as well.

@Tristan O'Reilly I have heard wonderful things about @John Woodrich in your area! Another contributor mentioned, but he is also an investor so he is well-rounded on the tax benefits from an investing approach.

Historically, my husband prefers to work with someone local and we recently started working with an investor-friendly CPA in Duluth. We were extremely happy with the outcome from our recent filing. I am a full-time Realtor and we have multiple investment properties, and I felt that he had a vast knowledge of the tax code and our abilities to capture all available benefits as a real estate professional and real estate investor. 

Just emailed him this week with some follow-up questions for 2024 planning and he was quick to respond. I posted his information below:

Craig Chilcote, CPA

Managing Partner

Anderson, Kuiti & Asuma PLLC

5 N 3rd Ave W, Suite 201

Duluth, MN 55802

218.727.5066

@Bonnie Low

We have had a range on the MTR rents as we definitely experience "high season" fluctuations in northern Minnesota thanks to our wicked winters and incredible summers. We started at 2100 in summer and had no issues getting it rented but then dropped it down aggressively after doing research and seeing that we were looking at oversaturation of the marketing coming into the winter. We plan to raise it back up to the 2000+ range for spring and summer months. Our guests have been traveling medical personnel, traveling/contract workers for a number of our mid-size and large local employers (both in MN and WI). We even had a couple who was touring different cities in Minnesota over the summer and both worked remotely.