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All Forum Posts by: Jennifer Rysdam

Jennifer Rysdam has started 60 posts and replied 518 times.

Post: Just bought my first 8-plex - help please :)

Jennifer RysdamPosted
  • Rental Property Investor
  • Cleveland, MN
  • Posts 518
  • Votes 354

I'm starting to think the same thing Dave. As I read through the files of these people I'm seeing more and more things that alarm me. Looks like we won't have trouble getting them rented out to new people, so I'm going to see how things go once I put my foot down about no smoking, cleaning up after dogs, and the rent amount. I told hubby that once I renovate one I'll give people the option of a newly renovated for this price or a clean old one for that price. That way I can get my turnover done without having to find the cash to renovate them all at once. (Assuming some people will be fine with the clean old ones). 
In this building they pay their own electric bill, which is nice, especially since the heat and everything else is electric.

Post: Does this house have mold problems?

Jennifer RysdamPosted
  • Rental Property Investor
  • Cleveland, MN
  • Posts 518
  • Votes 354

If the house is closed up you should really be able to smell it when you walk in if it's mold. It looks more to me like filth. All around the light switches and places where people might put their hand, like in the bathroom on the wall. I noticed that one of the outlets in picture 14 looked like it had been on fire though?? 

Post: Who do you have for insurance on your multi housing

Jennifer RysdamPosted
  • Rental Property Investor
  • Cleveland, MN
  • Posts 518
  • Votes 354

@Jason Bott I just bought an 8-plex in SW MN.

Post: Do you have a business cell phone or use your own?

Jennifer RysdamPosted
  • Rental Property Investor
  • Cleveland, MN
  • Posts 518
  • Votes 354

Is there a way to have my Google Voice calls have a different ring tone so I know if it's business or personal? I can't find any instruction online for it.

Post: Do you have a business cell phone or use your own?

Jennifer RysdamPosted
  • Rental Property Investor
  • Cleveland, MN
  • Posts 518
  • Votes 354

I just set up my Google Voice account. Thanks everyone for all of the advice and suggestions, I really appreciate it. :)

Post: Do you have a business cell phone or use your own?

Jennifer RysdamPosted
  • Rental Property Investor
  • Cleveland, MN
  • Posts 518
  • Votes 354

How much data does Google voice use? I don't have much data. I might be better off just getting another phone instead. Decisions, decisions.....

Post: Who do you have for insurance on your multi housing

Jennifer RysdamPosted
  • Rental Property Investor
  • Cleveland, MN
  • Posts 518
  • Votes 354

I just thought I'd ask who people are going through and what their coverage, deductibles, and premiums are. Thanks :)

Post: Just bought my first 8-plex - help please :)

Jennifer RysdamPosted
  • Rental Property Investor
  • Cleveland, MN
  • Posts 518
  • Votes 354

It's in Hardwick. $175,000. I put $10,000 into the operating account to use for repairs and updates, and then I make 3, $10,000 payments in 6, 12, and 18 months to the owner, plus $840 per month payment. I have 10 years on the contract, but plan on financing through a bank once a property of mine, that's on a contract as well, gets paid off. Hopefully in the next year. We'll save a lot by doing repairs/updates and managing ourselves. We have contracting backgrounds and I have a business/accounting/fraud examination degree.

The sweetest part is that it's only 7 miles from my house and it's just the size I was looking for. :)

Post: Just bought my first 8-plex - help please :)

Jennifer RysdamPosted
  • Rental Property Investor
  • Cleveland, MN
  • Posts 518
  • Votes 354

@Deanna McCormick Who do you have do your background checks? Thanks :)

Post: Just bought my first 8-plex - help please :)

Jennifer RysdamPosted
  • Rental Property Investor
  • Cleveland, MN
  • Posts 518
  • Votes 354

I was a USDA Rural Housing and Community Development loan program that the owner used to build the apartment 40 years ago. They can transfer their subsidy approval to another building, but other than that our county doesn't offer any other help. Thanks!