It’s no secret that the Federal Reserve is making money. Most of our products sold in the US, except rents, are imported. Inflation will likely start to take effect. What happens to your tenants, and your profitability, is in your control. Continue reading “Inflation and Its Impact on Rents and Tenants”
Risk of Tenants with Low Credit Score Explained
I wanted to expand on the credit score criteria in any Tenant Screening Requirements just a bit.
It is a fact that lower credit score individuals are a high risk to insurance companies, and for collecting payments. It is a fact that lower credit score individuals engage in riskier behaviors.
Here is why tenants with a low (or 0) are high risk.
Continue reading “Risk of Tenants with Low Credit Score Explained”
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Attorneys Clause in Leases
Most residential leases have a clause in them that say the tenant is responsible for all “Attorney Fees”. This was very common until the Minnesota Tenant’s Bill of Rights passed last year, in 2010. Continue reading “Attorneys Clause in Leases”
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My Eighth Investment Property, my second 4-plex
My eighth investment property was a bit more creative. It was a 4-plex, built in 1984 (i.e. no lead paint issues). All four of the apartments were three bedrooms, 1 bath. As with most of my properties, it was a distressed sale. Continue reading “My Eighth Investment Property, my second 4-plex”
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Why Avoid Tenants with Credit Scores Below 600?
The fact is, about 85% of America has a credit score above 600. At 600, you start to get below a 50% default rate on mortgages, and an even higher default on rents. Remember, you are not looking for an average renter for your quality unit; you want a quality renter for your quality unit. Continue reading “Why Avoid Tenants with Credit Scores Below 600?”
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Evictions and Terminating Tenancies (in Minnesota)
If you have a tenant that you want to get rid of, there are many ways to go about it. In Minnesota, here are the main ways and reasons to evict. Minnesota is the host cost eviction in the Nation, so make sure you are prepared. In 2013 the costs were as follows: $320 court costs, $100 to serve the summons, $55 for the writ. $125 to serve the writ. Plus vacancy, repairs, lost rent, and aggravation. Continue reading “Evictions and Terminating Tenancies (in Minnesota)”
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A Week in the Life of a Landlord – 2014-03-16
A Week in the Life…
What is it really like to follow me in my footsteps? Keep in mind, every day began with my real job, from ~8-~5. This is somewhat is a typical week, maybe even a bit slower than most. Follow me in a week in the life of a landlord. Continue reading “A Week in the Life of a Landlord – 2014-03-16”
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My Seventh Investment Property, my first 4-plex
I owned three investment properties at this time, and was preparing to buy another. I saw values going up considerably, and thought it might be worthwhile to buy another rental property. Continue reading “My Seventh Investment Property, my first 4-plex”
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Malware SUCKS!
I was attacked by a malware virus, but now all is permanently well, I hope. I just know malware sucks!
I deleted and re-installed my WP site this AM, but if I would have had WordFence, it would have been easier. I have it now. I have only been blogging for a month now, I backdated a few entries to make it look like a longer period (lol). Luckily I had a backup.
In any case, I should have had something like WordFence already, but I would never had thought my small site would ever be a target. I guess I should take that as a compliment.
Thanks again to other bloggers who helped me out!
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My Sixth Investment Property and First Sheriffs Sale Purchase
Continue reading “My Sixth Investment Property and First Sheriffs Sale Purchase”
