All Forum Posts by: LeAnn Riley

Either the tenants or the owner need to apply. There is funding for help. There are papers for both sides to fill out. The tenants need to apply for help first, if they don't....then the owner may apply. Tim is right, renthelpmn.com

Perhaps you could help Ms Seller by providing information and assistance to fill out the forms. She is entitled to late fees also according to the lease. It does take time to get the funds but well worth the effort. Sounds like she needs some help to solve her late rent issue AND you could do good. Then you will be in position to negotiate a great deal for buying her property. 

The day is HERE! Save your spot in advance at go.leannriley.com/club

Join me and guest, Jesse Mills, for Short-Term Rentals (VRBO + AIRBNB) with Creative Financing. We'll cover:

• Finding the right market
• How to acquire without the banks
• Managing short term rentals
• How to get set up
• Creating your team

And more! Jesse has been in real estate and mortgage for 15 years. His experience, passion, and creativity help people get into a home of their own, reduce their debt, and get on the path to financial freedom.

Don't forget to sign up in advance at go.leannriley.com/club

Joining is FREE!

Join LeAnn Riley and guest, Jesse Mills, for Short-Term Rentals (VRBO + AIRBNB) with Creative Financing. They'll cover:

• Finding the right market
• How to acquire without the banks
• Managing short term rentals
• How to get set up
• Creating your team

And more! Jesse has been in real estate and mortgage for 15 years. His experience, passion, and creativity help people get into a home of their own, reduce their debt, and get on the path to financial freedom.

Don't forget to sign up in advance at go.leannriley.com/club

I'm going LIVE Wednesday, September 8th at 4pm CDT.

MUST REGISTER beforehand for free at go.leannriley.com/club

I'll be live with Gabriel for: BRRRR Investing...Single Family to 40 Units. We'll cover:

• What works and what doesn't in BRRRR

• Finding Deals

• Honing your systems

• Get Rich - Grow Slow

I'll be interviewing Gabriel Rysdahl, who is 32 years old and grew to 40 units in just 8 years, starting with a single family home. AND this is his part time gig as he's also an actor in New York.

Discover the BRRRR strategy - Save your spot at go.leannriley.com/club

I'm going LIVE Wednesday, September 8th at 4pm CDT.

MUST REGISTER beforehand for free at go.leannriley.com/club

I'll be live with Gabriel for: BRRRR Investing...Single Family to 40 Units. We'll cover:

• What works and what doesn't in BRRRR

• Finding Deals

• Honing your systems

• Get Rich - Grow Slow

I'll be interviewing Gabriel Rysdahl, who is 32 years old and grew to 40 units in just 8 years, starting with a single family home. AND this is his part time gig as he's also an actor in New York.

I'm going LIVE this today (8/11) at 4pm CDT for How to Defer Taxes with a 1031 Exchange!

Reserve your spot for free at go.leannriley.com/club

I'll be joined by Jeff Peterson, 1031 attorney and tax professor. Jeff has spent decades of legitimate, practical experience working in the trenches, pounding out complicated 1031 exchange deals. We'll cover:

• What is a 1031 exchange?

• Why real estate investors need to know

• What are the key benefits?

• Who qualifies for an exchange?

PLUS, get your questions answered LIVE. Save your spot at go.leannriley.com/club

I'm going LIVE this Wednesday (8/11) at 4pm CDT for How to Defer Taxes with a 1031 Exchange!

I'll be joined by Jeff Peterson, 1031 attorney and tax professor. Jeff has spent decades of legitimate, practical experience working in the trenches, pounding out complicated 1031 exchange deals. We'll cover:

• What is a 1031 exchange?

• Why real estate investors need to know

• What are the key benefits?

• Who qualifies for an exchange?

PLUS, get your questions answered LIVE.

Great advice here from others. In Mpls for a property manager, you can just have them handle the lease up. Then you take over and handle the management. Most property managers charge the first months rent to secure a tenant. They would likely set you up with a cleaning person and be helpful if you need other items as they have the vendors. Sometimes it's easy and other times it takes many showings to find the RIGHT tenant.

The market here is great with super low vacancy rates. However, the most important thing is to have the prospective tenant screened extensively with a full background check and to have the proper lease to cover your liabilities as a landlord. 

It's better to form a relationship with someone who can assist you with landlord obligations, in case you can't handle it from afar. Maybe you have friends or family BUT with eviction moratoriums and other rules depending on what city your property is in, I believe in building relationships. Even more critical when you are operating an investment from a remote location. 

Hey, I had a building burn down when I was out of town, thank goodness I had a team of people I could rely on.

I have found Rentometer to be quite accurate in large metro areas. In outlying smaller towns there isn't enough data. I use Rentometer Pro to help investor buyers determine if the rents are at market rate when purchasing multifamily. First choose the distance, sometimes you'll have to go farther out. Be sure you have the proper bedrooms, leave off the bathrooms and the "type" of property correct - duplex, apartment, etc. Then run the report. If I don't get enough data, then I go back and adjust the parameters. Also, note how up to date the data is. If I don't get enough data then go to the apartment.com or other rental sites for more proof. At the end of the day you can still look on Craigslist or Facebook Marketplace and see what a similar property is renting for. Another consideration is to look at the Section 8 rental rates in the county, at this time, they may be higher than market rent.

Thanks Bruce, yes, that link explains exactly what to do.