All Forum Posts by: Ray Mulli
Ray Mulli has started 39 posts and replied 131 times.
Post: Top 10 Markets for Multifamily Real Estate Returns
- Investor
- Minneapolis, MN
- Posts 133
- Votes 29
Originally posted by @LeAnn Riley:
Yeah! Minneapolis made the list. Thanks. We have so much adversity going on right now.
The market is HOT, HOT, HOT. Listings are flying with 10 to 20 offers within a few days, not enough inventory. People moving toward the suburbs. Rents are remaining high and landlords report payments at above 97%. Also, the county has put in place programs to help those who are struggling to pay rent. The big dive is in commercial properties and larger multifamily properties. Proactive landlords are the winners. Communicate with your tenants and it's much easier to solve issues on the front end, rather than the back end. Still have to wait until July 12 on the eviction moratorium.
8. Minneapolis, MN
Overall Population: 394424
Annual Total Return: 6.70%
Average 2 BR Rent: $1,150
Mean Income: $50,767
Moving to suburbs did you say......
This is available for lease option
Post: North Minneapolis good place to invest? Advice Please!
- Investor
- Minneapolis, MN
- Posts 133
- Votes 29
Originally posted by @Bjorik Mutize:
Agreed with all of the above, definitely opportunities in North Minneapolis but pick your pockets. It's amazing how neighborhoods change by the blocks(or block) and how that affects tenant demographics demanding your property. I do not for see any outstanding appreciation anytime soon.
The only way appreciation would happen is upgrading of current housing stock.
Gentrification is possible in North Mpls if quality of jobs in the Twin Cities improves. We already have the population.
Post: North Minneapolis good place to invest? Advice Please!
- Investor
- Minneapolis, MN
- Posts 133
- Votes 29
So, as indicated from outset I’m generalizing.Applies to all RE markets in US.
Cheers!
Post: North Minneapolis good place to invest? Advice Please!
- Investor
- Minneapolis, MN
- Posts 133
- Votes 29
The human mind likes to generalize when analyzing complex issues.This applies to all things real estate.
Opportunities in the twin cities will magnify in the coming months due to Covid 19 fallout, looming foreclosures, job losses,housing crisis, and changing lending rules.
Reach out for lease option deals!
Thanks
Post: Marketing CFD/Lease Option Executive Home
- Investor
- Minneapolis, MN
- Posts 133
- Votes 29
Hello BP, I'm looking for ideas of how best to market an executive home in current market. Selling on the MLS is not an option for me.
I'd like to sell the house CFD, lease option or outright sale. I usually locate mid-range buyers on Zillow, but i'd like to locate executive buyers.
All ideas are welcome and I thank you in advance.
Post: Thirteen Cities Where Single-Family Rents Are Skyrocketing
- Investor
- Minneapolis, MN
- Posts 133
- Votes 29
@Josh Caldwell,
This is what you are missing about Ames, Iowa: Industrial Property Tax Exemption – The Ames City Council has approved an ordinance for a partial exemption from property tax of the actual value added to real estate by the new construction of industrial real estate, research facilities, warehouses, owner-operated cattle facilities, and distribution centers. The amount of actual value added that is eligible to be exempt from taxation is as follows: Year 1, 75%; Year 2, 60%; Year 3, 45%; Year 5, 15%. Applications are filed with the Ames City Assessor and must be submitted by February 1 after the year of construction. Companies may file for prior approval.
(Source, City of Ames).
Helps when city leaders are forward looking. :)
Post: My Flip is NOT Selling! - Help!
- Investor
- Minneapolis, MN
- Posts 133
- Votes 29
@ind non
Why not fire your realtor and hire the one that sold the in updated house next to your flip?
Post: $1,000 gone missing...
- Investor
- Minneapolis, MN
- Posts 133
- Votes 29
@Aaron Wyssmann, you have it right. the M.O is in the shredder!
Post: Multi Family/Commercial Property Networking
- Investor
- Minneapolis, MN
- Posts 133
- Votes 29
@ Sean Richway, I came across this post for the Minneapolis MN multifamily market:
The Twin Cities market improved slightly to 2.7% vacant from 2.9%. Market rents
on average are $1,018 up 1.7% a year ago, and 5+% from two years ago. The
apartment market continues to absorb new units being brought online as demand
outpaces supply. Owners of older product continue to push rents and implement valueadd
strategies. When doing value-add, owners are seeing 5% to 10% rent increases
with some projects seeing even more. Deliveries of new urban product will be down
from last year, and with supply still being met by demand, we anticipate that whole
market stabilizing. This should bode well for rent growth in older product as the limited
concessions in certain areas that were being offered have disappeared.
Post: Where have all the Twin Cities Minnesota Rehabs gone?
- Investor
- Minneapolis, MN
- Posts 133
- Votes 29