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All Forum Posts by: Justin V.

Justin V. has started 5 posts and replied 212 times.

Post: 1073751824 - what is this sequence?

Justin V.Posted
  • Rental Property Investor
  • Minneapolis, MN
  • Posts 214
  • Votes 131

@Justin V.

Nvm figured it out. Started with a penny, so 24 cents in the magic penny. 2^30 is the full number mentioned.

Post: 1073751824 - what is this sequence?

Justin V.Posted
  • Rental Property Investor
  • Minneapolis, MN
  • Posts 214
  • Votes 131

@Jason Zev Jankovic

So is the 24 at the end a “24 hours a day thing”?

Post: Facebook Marketplace Issue - Listing not searchable

Justin V.Posted
  • Rental Property Investor
  • Minneapolis, MN
  • Posts 214
  • Votes 131

@Justin V.

In case anyone else runs into this issue. Makes sure the “keep rental address private” toggle isn’t engaged.

Post: Posting on Facebook Marketplace

Justin V.Posted
  • Rental Property Investor
  • Minneapolis, MN
  • Posts 214
  • Votes 131

@Jared Hottle

Hi Jared,

How do you send over this form? Do you ask for an email or just send a list of questions via messenger?

Post: Would you throw out your tenant's personal belongings?

Justin V.Posted
  • Rental Property Investor
  • Minneapolis, MN
  • Posts 214
  • Votes 131

@Matt M.

Yep. 28 days technically. After that Minnesota landlords can sell the possessions, but must notify the former tenant 14 days prior to the sale and return anything that goes above covering landlord damages must be returned to the former tenant if they ask.

Minnesota statute below for some fun reading.,

504B.271 TENANT'S PERSONAL PROPERTY REMAINING IN PREMISES.

§Subdivision 1.Abandoned property. (a) If a tenant abandons rented premises, the landlord may take possession of the tenant's personal property remaining on the premises, and shall store and care for the property. The landlord has a claim against the tenant for reasonable costs and expenses incurred in removing the tenant's property and in storing and caring for the property.

(b) The landlord may sell or otherwise dispose of the property 28 days after the landlord receives actual notice of the abandonment, or 28 days after it reasonably appears to the landlord that the tenant has abandoned the premises, whichever occurs last.

(c) The landlord may apply a reasonable amount of the proceeds of a sale to the removal, care, and storage costs and expenses or to any claims authorized pursuant to section 504B.178, subdivision 3, paragraphs (a) and (b). Any remaining proceeds of any sale shall be paid to the tenant upon written demand.

(d) Prior to a sale, the landlord shall make reasonable efforts to notify the tenant of the sale at least 14 days prior to the sale, by personal service in writing or sending written notification of the sale by first class and certified mail to the tenant's last known address or usual place of abode, if known by the landlord, and by posting notice of the sale in a conspicuous place on the premises at least two weeks prior to the sale. If notification by mail is used, the 14-day period shall be deemed to start on the day the notices are deposited in the United States mail.

Subd. 2.Landlord's punitive damages. If a landlord, an agent, or other person acting under the landlord's direction or control, in possession of a tenant's personal property, fails to allow the tenant to retake possession of the property within 24 hours after written demand by the tenant or the tenant's duly authorized representative or within 48 hours, exclusive of weekends and holidays, after written demand by the tenant or a duly authorized representative when the landlord, the landlord's agent or person acting under the landlord's direction or control has removed and stored the personal property in accordance with subdivision 1 in a location other than the premises, the tenant shall recover from the landlord punitive damages in an amount not to exceed twice the actual damages or $1,000, whichever is greater, in addition to actual damages and reasonable attorney's fees.

In determining the amount of punitive damages the court shall consider (1) the nature and value of the property; (2) the effect the deprivation of the property has had on the tenant; (3) if the landlord, an agent, or other person acting under the landlord's direction or control unlawfully took possession of the tenant's property; and (4) if the landlord, an agent, or other person under the landlord's direction or control acted in bad faith in failing to allow the tenant to retake possession of the property.

The provisions of this subdivision do not apply to personal property which has been sold or otherwise disposed of by the landlord in accordance with subdivision 1, or to landlords who are housing authorities, created, or authorized to be created by sections 469.001 to 469.047, and their agents and employees, in possession of a tenant's personal property, except that housing authorities must allow the tenant to retake possession of the property in accordance with this subdivision.

Subd. 3.Storage. If the landlord, an agent, or other person acting under the landlord's direction or control has unlawfully taken possession of a tenant's personal property the landlord shall be responsible for paying the cost and expenses relating to the removal, storage, or care of the property.

Subd. 4.Remedies additional. The remedies provided in this section are in addition to and shall not limit other rights or remedies available to landlords and tenants. Any provision, whether oral or written, of any lease or other agreement, whereby any provision of this section is waived by a tenant, is contrary to public policy and void. The provisions of this section also apply to occupants and owners of residential real property which is the subject of a mortgage foreclosure or contract for deed cancellation and as to which the period for redemption or reinstatement of the contract has expired.

Post: Facebook Marketplace Issue - Listing not searchable

Justin V.Posted
  • Rental Property Investor
  • Minneapolis, MN
  • Posts 214
  • Votes 131

@Matt Crisp

Old post, but I run into this issue a bit. Last listing did this and my current one does too. Did you ever figure out a solution? Last time I rebuilt the listing and the new listing worked.

It’s weird. Says it’s been listed for 11 hours with 102 clicks and 1 notification of a comment which I can’t see. Searched marketplace from my wife’s phone and nothing…

Post: Seeking advice for improving returns on my portfolio of 8 units

Justin V.Posted
  • Rental Property Investor
  • Minneapolis, MN
  • Posts 214
  • Votes 131

@Matt Leber

Good to know. Thank you for the details. What kind of things do you typically end up needing to repair at the turns? Are you unable to list the units prior to move out due to unpredictable move outs and a pattern of improper notice?

I’m probably in b/b+ areas with typically good tenants who have always moved out or renewed at lease end and are generally easy on the properties. It enables the one day turn which is typically just small hole patching, touch up paint, clean with assistance from a robot vacuum, rekey quickset smart key locks, shampoo/swiffer floors as needed and small stuff (broken blinds & detector batteries). Ive had Inherited tenants with rough units where I didn’t trust them to move out on time (or on a planned date) or with proper notice, so I’ve typically planned some down time and reno work before listing, but that’s always a 1 off and then the rest of the turnovers have been smooth.

I get the not wanting to rock the boat, but you already have so swapping from 1 pm to another shouldnt be too hard: now send the checks here and email this person. I tend to have a better time with tenants placed by myself or my pm. I have 6 sets of inherited tenants out or 20 units currently with 2 sets not likely to last. It’s usually an opportunity to put a little work in and raise rents to market when they decide to leave.

What reasons have tenants given for leaving? With jack o.‘s post acting as reinforcement I feel like either your current pm isn’t screening hard enough for you, something is driving them away (area, pm, or conditions of property), or it’s the market/rental class you are in being a pain (I’m not at all familiar with other rental classes btw… )

I also think you have to take the covid no-payer as an outlier and exclude him from your analysis. Chalk it up to bad luck.

Look forward to hearing more.

- Justin

Post: Would you throw out your tenant's personal belongings?

Justin V.Posted
  • Rental Property Investor
  • Minneapolis, MN
  • Posts 214
  • Votes 131

@Nathan G.

I’m in a store for 30 days post eviction state. Nothing but a mess was left behind, but I didn’t touch anything for that month and left an unanswered voicemail with the tenant saying you have until x date to pick it up.

I think even if we sell the possessions, we need to send the money to the former tenant. We curb a bunch and put the pile on local facebook groups. Nothing too exciting.

Post: Seeking advice for improving returns on my portfolio of 8 units

Justin V.Posted
  • Rental Property Investor
  • Minneapolis, MN
  • Posts 214
  • Votes 131

@Matt Leber

I’d try it with another pm. Seems like they suck. My pm does a same day turn most of the time.

Why the long time between fills? When do they start marketing them and what is involved in a turn. (I’m looking for justification for their slowness if there is any.)

12% is high unless it includes more than is typical stuff.

I like my local units that I pm, but it’s nice to have properties making money elsewhere.

What’s your goal with rental investing?

Post: Sell and make $200k profit or rehab and rent for $8400

Justin V.Posted
  • Rental Property Investor
  • Minneapolis, MN
  • Posts 214
  • Votes 131

@Tom Shallcross

Since this mentions “design” could this be for new builds and not cover existing housing? Thinking grandfathering. Wanted to know if you could clarify.