All Forum Posts by: Eric Gutierrez

Hi Francis,

North Minneapolis is definitely not the "burbs".  Here is a chart you may find interesting.  The area with the high density red dots is 55411.

Minneapolis shots fired - June 3-9 2014

http://www.ci.minneapolis.mn.us/www/groups/public/...

Here you can look at more periods

http://www.ci.minneapolis.mn.us/police/statistics/...

I don't personally know the area all that well, but it would potentially be one of the more challenging areas of Minneapolis.

I'm in the same boat with college rentals. Mini blinds get broken or damaged almost every year. I'm considering switching to all curtain rods and cheap curtains. I'm starting to think that investing in heavy duty curtain rods is the way to go. The curtains themselves you can always toss in the washing machine and they will look like new. I absolutely hate changing mini blinds. The mounting hardware is such crap it seems like you have to swap it out every other time you switch the blinds.

@Marcus Johnson I'm not sure this is even a possibility for me either at the moment, just trying to start feeling out the possibilites and get an idea of the hurdles

Being in the area, I would think you might have a tougher time keeping good tenants over the long term if you are charging the same for your units vs a unit with natural gas heat. Ive known a few people in the area that have lived in a house with just electric baseboard and they were shell shocked by the Jan/Feb bills and didnt want to stay another winter.

Have you called excel or whoever it is to see how bad the bills were the last couple years?

Hey John,

Couple more details...

-Plan would be to rent it part time and treat it as an an investment

-If there aren't a lot of comps in the area (what im afraid of) even if the price is reasonable a banks might not agree. I'm thinking a small local bank would be best bet but even then still not sure

-This would be property #5. All 4 current properties are within a half mile of each other with 3 currently rented and the 4th will eventually be.

-Eric

I would question how well the floor paint will stick if the basement dampness is as bad as you indicate. I would think it might start peeling once you let it go back to a normal humidity state. Have you looked at addressing where the moisture might be coming from ie. exterior grading, lack of gutters etc? There are options less costly and less intense than a drain tile system.

Anyone have any experience with getting financing on a Lake Cabin in WI or MN? Just curious if it is possible to get a fixed 30 year note or not as well as % down requirements etc. I foresee that it might get tricky due to lack of comps as well as not being a typical house.

Thanks,

Eric

are we talking a rental or a private residence? If rental, I'd rather the the tenants forget the fan is even on and they let it run too much than too little.

How bad of a sag are you talking? Most homes of that vintage are not perfectly flat or level. If you are talking slightly unlevel I don't know that I'd be too worried about it.

I 2nd what Brianna said above. I wouldnt be interested in it