All Forum Posts by: Dan Vleck

I can understand how you feel ethically. 
When we bought a property with rents below market rates, the tenants actually expected an increase. That may be the case for you. I would not raise the rent every month for 6 months such that the tenants don’t know when you’ll stop. 
After purchasing the property we went in and had conversations with each tenant explaining market rents and that the amount we paid for the property required the increase. We came to agreements with the tenants, and unfortunately there was one tenant that couldn’t afford to stay.

You can have a heart and be a landlord.

Don’t go to the typical insurance agencies that advertise on tv. Look up insurance brokers where you live.

My broker North Risk Partners LLC has most of my properties with RAM Mutual Insurance Company. My properties are insured at a depreciated value for a better rate.

Btw, my tenants have been there 8 years. I’d dump the pm

I just got a check from renthelpmn today. From date tenant applied, took 19 days to receive a check that included back rent and 3 months forward rent. I was notified by renthelpmn throughout the process and I did my part and continued to follow up with tenants to keep it moving.

Good luck 

I don’t befriend my tenants. It just makes difficult conversations awkward. Also might make them think that you won’t enforce lease provisions.

I tried cleaning a turtle once. A bloody mess.

Fyi, unless you’re a realtor, I think you are underestimating sell cost.

I believe you will find state capital gains will be taxed as personal income at whatever bracket you are in.

Live there less than a year and you pay short term cap gains tax. 
Live there a year plus a day and pay long term cap gains tax. 
Live there 2 years snd pay no tax on the sale and get another year of 6 to 8% appreciation.

Add in appreciation and no tax and its like you flipped another house with no work.

Need receipts to discount cost basis for repairs so buy whatever you want and claim what’s on the receipts.

How about 3/16/21? Is the eviction moratorium going to end?

Please become an electrician. I can’t get a call back. I have a job for you in Brainerd!!!

I recommend getting a good job unless you are wealthy. A high paying job is helpful for getting loans to buy properties. Get the internship for your free time.
Post your City if you want to work with someone.