All Forum Posts by: Joseph Hammel

Ok, for the first time ever I posted this and got ZERO replies. So I will re-post. Calling the lawyer Monday as well.

Hello,

I did a self eviction on a tenant in Wabasha County. Long story but I won. I have been still working to let the tenant catch up and they paid me (since the ruling) a good amount of the past due but not all of it. I am hoping they can come up with the rest.

Question 1. Does accepting that payment prevent me from executing the Writ?

2. Does the Writ have an expiration spelled out in the law?

3. I also noticed that I forgot the unit number on the original (stupid mistake) and there are 16 units. This may be something the Sheriff will just do anyway but what does the law say?

Thanks!

West central Wisconsin/ SE Minnesota.

Nobody has any thoughts?

Minnesota?

Hello,

I did a self eviction on a tenant in Wabasha County. Long story but I won. I have been still working to let the tenant catch up and they paid me (since the ruling) a good amount of the past due but not all of it. I am hoping they can come up with the rest. 

Question 1. Does accepting that payment prevent me from executing the Writ? 

2. Does the Writ have an expiration spelled out in the law?

3. I also noticed that I forgot the unit number on the original (stupid mistake) and there are 16 units. This may be something the Sheriff will just do anyway but what does the law say? 

Thanks!

Buying, the deals are out there. 

Currently U/C 4plex 140k

Package duplex and 3 sfh 165k

8 plex 137k

All cash flow/ fixers.

Say no. If they go more Karen don't renew.

I have had policies with them in the past that one of the insurance brokers I work with sells that one. That price sounds super low for the property. Is that just the liability coverage or including the dwelling as well? Just checking.

Some of my MN properties insurance renewals just went up. Some near 100% OUCH!

They are mostly single fam some 2-4 unit also. Some personally owned some in LLC (could move personal ones to LLC if needed. Need min 300k liability on personal and 1m on LLC owned (to cover umbrella requirements) Send me your go to guys or companies.

With 2022 coming to a close I thought I would share the deals we bought this year. Focusing on rural counties has been paying off well. We bought 7 duplexes, (one is being converted from a SF), 9 SFH, and a church! Units added 29 if we get 6 in the church. Average sale price was 62k about 36k a door. Cash flow is great and we bought a lot of equity by getting some great deals. I also sold one SFH in my roth and made out better than I thought I would. In total we are at 121 units over 40 properties.If you asked me last year if I would be buying SFH and DP this year I would have said no. Again and again I remember not to make "limiting beliefs" for yourself. I do stick to my criteria for where I want a deal to be as far as cap rates or whatever rule you might use.I do have some reservations for taking on some bigger projects because of the mental capital (and actual capital) involved so I may pump the breaks on that this year but again there's a potential hang up. Solution could be finding a partner or employee with some construction management experience?On a personal note I was very excited to purchase some hunting and rec land. I harvested 3 deer already!A big shot out to all my workers involved in the daily work of maintaining and remodeling all these places. I literally could not do it with out you.Thanks to the realtors, bankers, insurance guys, CPA. Thanks to my tenants. Remember its a business and they are YOUR customer!Finally all the thanks to God who I give all the glory and credit. Stay humble and keep him in your heart and you will do well.Proverbs 22-4 Humility is the fear of the Lord; its wages are riches and honor and life.

 That depends on the plan rules.

when I  left my job I was able to keep making the same payments.