All Forum Posts by: Amber Gonion

Great flip, we live in the area I know several people in North Oaks it is a great area nice to see the homes getting updates. I still wish the would not have gotten ride of the guards at the gate on highway 96. Did you need any permissions from the North Oaks HOA for anything?

If they are over 18 years old do background checks just the same as you would for any tenant to comply with fair housing standards.  They would pay just like anyone else would.

Treated wood with vapor barrier works good if done property and tested before installation.  it adds insulation especially if it is laid on studs.   If you notice any soft spots or warping at all plan on pulling it out.  Why pull out of a deal when you can use it to negotiate a better deal and put the flooring of your choice.

Finding out if a piece of land is able to be built on is expensive.  We are building currently and the amount of money just to find out if we can build is incredible.  I can tell you firsthand you need the regular phase 1 testing, wetlands permits (everything is in a wetland district), city approvals, surveys, soil testing, etc.  It takes months and tens of thousands depending on the situation.  Your options are to build yourself, sell to builder that will get the proper tests, or sell the land without tests, permits etc at a discounted rate.    I may lean towards selling the lot without test, you don't want to shell out all of the money and then not be able to find a buyer.

I would 2nd @Brad Schaeppi recommendation.

@Jarvis Naylor  @John Woodrich is both local and an experienced investor.

  I have two guys that both were able to respond within hours during a holiday weekend.  Both are very reasonable.   I can let you know the price they quoted us for replacement of fuse boxes recently by pm.

@Jarvis Naylor yes, you must honor the existing lease. If they are on month to month you often can have the owner give them notice once you clear inspection.

Typically the seller will provide a check for deposits plus interest and prorated rent collected at closing (separate from title company funds).

Your other options are to wait until the lease expires and non-renew (section 8 has some additional requirements) offer to pay the tenant to leave before the lease expires, if they are non-paying or violating the lease eviction may be the option of last resort.

Days on the market is skewed by high end properties and properties some realtors own and list to bring in clients. We typically are selling within 72 hours for decent multifamily under 500k (only to give time for highest and best). 3 weeks for 500k to-5M. The last MLS property we put on the market in Prior lake we posted at 7am had a showing at 10am and offer by 2pm at full ask.

If you price it right it will be gone asap.

I used to put things on Ebay thinking no one else in the world will be interested in this item, if it is listed for the right price there is always someone out there.

@Jonathan Greene ask yourself this? Why does everyone on the lake drive their boat to the other side of the lake to fish? If you are going to the opposite side, the guy on the opposite side is coming to your dock to fish.

Everyone feels there are better deals in other places. The reality is if you knew those places you may not think they are a deal. Oos is tough unless you have a realtor and management team with integrity. Even then is risky.