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All Forum Posts by: Eric Gutierrez

Eric Gutierrez has started 25 posts and replied 151 times.

Post: Best 2-car garage dimensions? (limited to 485 sqft)

Eric GutierrezPosted
  • Investor
  • Minneapolis, MN
  • Posts 155
  • Votes 41

That is kinda crazy that is the biggest they will let you go. Minneapolis has a restriction of 676 sq ft

Post: Gas Furnace out on a Sunday

Eric GutierrezPosted
  • Investor
  • Minneapolis, MN
  • Posts 155
  • Votes 41

@David Krulac

- not uncommon around here I see a lot of coal burners converted to gas. Massive units

Post: Home Reno Permits

Eric GutierrezPosted
  • Investor
  • Minneapolis, MN
  • Posts 155
  • Votes 41

Around here you would have to change your legal address by getting a new DL and then they would let you do that.

Post: Your first property.

Eric GutierrezPosted
  • Investor
  • Minneapolis, MN
  • Posts 155
  • Votes 41

For me the thing I learned with my first property is I have no idea how I spent so much $ on it. It's a great rental and always rents very quickly, but I have a bit more into than Id like. Oh well, learning curve.

Post: Furnaces, mant.

Eric GutierrezPosted
  • Investor
  • Minneapolis, MN
  • Posts 155
  • Votes 41

Pat - I just looked at a property that someone installed the filter backwards and it was packed full of crud. It was bowed way way inwards toward the blower. I wasn't sure whether to just pull it out or leave it. Wound up just mentioning to the listing agent.

Post: Furnaces, mant.

Eric GutierrezPosted
  • Investor
  • Minneapolis, MN
  • Posts 155
  • Votes 41

I wouldn't leave it up to the tenant to replace the filters. I try to get in and replace my filters at most every other month.

They don't care if your furnace lasts. It hasn't happend to me, but I wouldn't be surprised to see a tenant run a furnace without a filter because they were too lazy/forgetful/cheap to replace it.

Post: Sell Rehab Before Completion

Eric GutierrezPosted
  • Investor
  • Minneapolis, MN
  • Posts 155
  • Votes 41

I'd be worry of an extremely picky (nitpicky) buyer that will come back to you when you are completed and attempt to nickel and dime you for price reductions for any little imperfection (real or not real) that they see.

Post: 5/1 ARM or a 30 year fixed..........

Eric GutierrezPosted
  • Investor
  • Minneapolis, MN
  • Posts 155
  • Votes 41

My .02 would be to take the 30 year and lock in the rate rather than have that unknown risk floating out there. If you are only planning to keep the unit for less than five years then maybe going with the ARM is the way to go. How long you will personally live in the unit makes no difference in my eyes. How much are you truly saving each month on the payment by going with an ARM vs the 30?

Post: Check your toilets

Eric GutierrezPosted
  • Investor
  • Minneapolis, MN
  • Posts 155
  • Votes 41

@Ben Skove - My girlfriend isn't overly impressed either

Post: Check your toilets

Eric GutierrezPosted
  • Investor
  • Minneapolis, MN
  • Posts 155
  • Votes 41

@ Sam Leon

I agree with that also. The property I most recently purchased someone used radiator clamps and garden hoses to move the washing machine 10+ feet away from the water hookups. The garden hose was swollen almost 1.5x its normal size. I bet it was on the verge of letting go. Cheap $20 insurance to just replace them on every new property.