All Forum Posts by: Shane Hedeen

Welcome to BP @Heidi Eitreim! 

You are 100% spot on in that this is the place to learn, network, grow and help others in the world of real estate investing. Wonderful platform for it. 

What is it you are looking to jump into initially? I would love to grab a cup of coffee anytime and chat! Just shoot me a PM if you are interested in connecting. 

@Cha Yang's advice is the simplest, and maybe the easiest if at all possible. Get it off the street, and away from clear eyesight. Sounds like you have this at your place, and still an issue. Some type of enclosure would probably be best if you can find one at a decent cost. That said, if the cost to put up a temp fence is more than it would just cost to have the dumpster emptied a few more times, it might not be worth it. If you frequently invest in this area, then you might just want to allot a little more than you have for that expense in your rehab in the future - and just make sure the numbers work for future investments, and not worry about it anymore. It's a crappy cost to incur, but one that might just come with that area sadly. Best of luck! 

@Eric Bate, 

Thanks for posting. Congrats on the first property. 

Do the people in the lower unit have a separate lease? You mentioned it being a family. Do you have access to their lease? I would advise yourself, your agent and potentially a lawyer to read the lease. 

Stick the sellers to the PA they agreed to. If those people have a signed lease though also through October, to use the whole building then my question would turn to - Why would a closing date of Sept 20 be chosen if they have a legally binding contract to be in the building through October? That's why I circle back to the lease. If the people living in the lower unit are also on the lease for the upper unit, you have a bit of a messier situation. Your PA is legally binding - so could be theirs as tenants. 

Best of luck working this out. Hopefully they get them out of that unit for you here shortly, or you are going to have to speak with your agent and a lawyer about remedies and solutions. 

Bottom line - you may want to invest some money into a real estate lawyer. No answer, including mine, on a forum post on the internet, is going to help you as much as a lawyer and your agent if they are knowledgeable in the situation. In spots like this, they are 100% of the time worth their cost in my opinion. 

Best of luck man, hopefully it gets sorted out well. Make sure to wrap us all up on how it turns out here on the thread! 

Welcome to BP @Account Closed! Great that you have a lot of goals. You are in a great place to network, meet people, learn and help others. 

Welcome to BP @Inness Wan! Get involved, read for forums, listen to the podcasts and dive on in. Great place to network and learn. 

Welcome to BP @Account Closed references one of the great books to read on BP. There are many others to check into as well. Wherever you are in your education, keep on learning as the right deal will come. 

Welcome to BP @Travis Collins! Sounds like you're ahead of the curve already with one rental and one house hacked duplex, that's awesome. Like others have mentioned, this is a wonderful place to connect with people, learn and ask questions. Keep active reading and posting on the forums, and try to give your knowledge as it grows to others. Thanks for posting and introducing! 

@Craig Fitzsimmons, that's a great plan. I don't work with anything off-market currently in our market, including any wholesalers. I focus on retail buyers/sellers and investors buying/selling anything on market. That said, there are plenty of folks in the area on BP who claim to do it in the area. This is a great place to network, and hopefully a few other folks will jump in if you're looking off market for deals! 

Lots of great info given already - property taxes vary wildly by city. Nothing that you can't find when looking at properties online. Insurance is the same way. Will vary wildly depending on age of home and what you are insuring. 

I would say the bigger questions I see are this - do you want to be buying a home at a distance in an area where you are more likely to have to evict? 

There are certainly homes in this market around $100,000. That said, you won't probably find too many people on BP who choose to live in those homes, as they are in C/D areas. Some choose to rent in those areas, some won't. All personal preference, but average home values in the market here are much higher than $100,000. It's a much higher demand and higher valued market than many others in the midwest, because of many things like our schools, jobs, safety, etc. 

Folks are totally right that it is more of a tenant state than landlord state. Like @Elizabeth Sawyer mentioned, neighborhoods vary drastically even within Minneapolis and Saint Paul. Important to work with someone who knows the areas and what you're seeking. 

Welcome @Craig Fitzsimmons - this is a fantastic place to chat with people, and start to network. That's awesome you have plans to scale up quickly! 

Is your goal to purchase small multi-family properties to reach 15+ units in a few years, or one apartment of roughly that size?