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Income property can have very stable, respectful and reliable tenants. Minneapolis, MN

02-09-10
Alf Gizzo
Alf Gizzo: Real Estate Trainer in Evergreen, CO
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  • Office: (303) 679-0634
  • Mobile: (303) 350-9488

Income property can have very stable, respectful and reliable tenants. Minneapolis, MN

Yes, that’s correct! It all depends on product, location and good tenant screening. If you don’t have all three, your vacancy rate will be too high. Let’s talk about product first. We recommend to our students that they furnish their properties with clean serviceable items, new linens and art work on the walls. What you are creating is an environment that is very agreeable to the tenant, one that not only the renter will look forward to coming home to, but also one, through pictures on flyers, web sites and word of mouth, will attract new inquires. We are all for building and keeping a pipeline.

Lots of furnished rooms for rent are not clean and contain old, thread bear chairs, sofas, and soiled mattresses. Would you want to stay any longer than you had to in a place that does not support a good sense of self-esteem? Nicely furnished rooms generate good paying tenants, who stay for extended periods.

Our favored tenant populations normally do not have their own transportation so proximity to public transportation is necessity.

Key to this equation within our program is good tenant screening, which oddly enough doesn’t include credit or traditional background checks. Our tenants are referred to us, so we gain knowledge about them and their history though direct questioning of people who are familiar with each potential tenant individually. We learn of personal background information and work experience. This type of screening done systematically will produce good paying renters who stay for long periods creating a stable house.

To discover more about setting up transitional housing, please download our free Ebook from the side bar on our main blog site.

Don't hesitate to contact us with questions. Learn about us. Learn our system. Learn what others have to say about us and our system.

 

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Spring Market in the Twin Cities - Part 6

02-08-10
Lakes Sotheby's International Realty Ben Kolkman Realtor - Edina Minneapolis
Lakes Sotheby's International Realty Ben Kolkman Realtor - Edina Minneapolis: Real Estate Agent in Minneapolis, MN
  • view my blog
  • Office: (952) 230-3117
  • Mobile: (612) 599-4161

Pending sales for last week, up 16.4%. Great news as the spring market heats up. New listings are still coming in strong with 1584 home coming on the market last week. As spring continues the number of pending sales will dictate how many of these homes sell, and whether or not the market continues it's march towards balance, health, and/or recovery.Spring Market Conditions Minneapolis Real Estate

The pains home sellers are feeling notwithstanding, real improvements have been make. The average time homes spend on the market is falling and the percent of list price sellers are receiving is rising. Still prices are down in general. Perhaps the most important point to make is that while some area and price ranges are doing well, others are in completely the tank.

If there is a silver lining to all this it's that some opportunities are presenting themselves in this market. For example, homes in high end neighborhoods that are in really poor condition can be a great way to take advantage of this market. Poor condition takes a massive toll on price when buyers have so many other choices. If the homes in good shape but need a cosmetic over haul, you may have a diamond in the rough. Be sure it's in a great neighborhood though, like poor condition, less than ideal locations will be hurting for a long time before their recovery takes hold.

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Home for Sale in Kenny Neighborhood, Southwest Minneapolis @ 5432 Aldrich Ave S

02-07-10
Tom Meckey
Tom Meckey: Real Estate Agent in Minneapolis, MN
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  • Office: (612) 767-3982
  • Mobile: (612) 327-8303
  • Secondary: (888) 932-3447

See photos below for a Home for Sale in Kenny Neighborhood, Southwest Minneapolis @ 5432 Aldrich Avenue S Minneapolis, MN 55419

see southwestminneapolisblog for photos

MLS# 3874306
Summary:
Listed at $264,900
3 Bedrooms, 2 Bathrooms, 1-Car Detached Garage & 1304 Finished Square Feet
Annual Taxes: $3648

Schools:
Kenny Elementary Anthony Middle School Washburn Senior High School

See Full Listing Details on Webdigs.com

Values for this home from Automated Valuation Websites:

eppraisal.com: $281,631

Zillow.com: $265,000

Cyberhomes.com: $261,360

Hennepin County Tax Assessed Value: $259,000

Last Sales Price and Date Sold: $275,000 in March of 2004

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Spring Market in the Twin Cities - Part 5

02-02-10
Lakes Sotheby's International Realty Ben Kolkman Realtor - Edina Minneapolis
Lakes Sotheby's International Realty Ben Kolkman Realtor - Edina Minneapolis: Real Estate Agent in Minneapolis, MN
  • view my blog
  • Office: (952) 230-3117
  • Mobile: (612) 599-4161

Slow start to spring - Just like last year

2010 seems to be starting out just like 2009. I am still predicting (and praying!) for a further rise in the weekly pending sales number but, it didn't happen last week. The number of pending sales actually dropped a little last week, the number of new listings dropped a touch as well.

Real Estate Market Activity Minneapolis

Over all inventory is down, a great long term trend we've been seeing and appears to be continuing. There are currently 6.99 homes for every buyer in the Twin Cities.

More to come next week... fingers crossed for a healthy boost to the pending sales number, but not holding my breath.

** Watch for a rise in weekly pending sale as the medicine we need to sure up home values.

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See me on TV! Ben Kolkman on Sweat Equity this Wed. at 7:30

02-01-10
Lakes Sotheby's International Realty Ben Kolkman Realtor - Edina Minneapolis
Lakes Sotheby's International Realty Ben Kolkman Realtor - Edina Minneapolis: Real Estate Agent in Minneapolis, MN
  • view my blog
  • Office: (952) 230-3117
  • Mobile: (612) 599-4161

Sweat Equity DIYIt's time again for another shameless plug. I hate to toot my own horn but who else would do it if I don't?! I'm sure my adoring fans also love these little heads up's so they never miss any of my self aggrandizing moments. HA!

I'm in another Sweat Equity episode this Wed. Feb. 3rd at 7:30 on the DIY Network. This episode deals with a suburban townhouse which the owner wants to spice up, while adding value, of course. With real estate opinions from Ben Kolkman, local real estate guru, and contracting advice from Amy Matthews, show host, the owner revamps her kitchen adding character, and style...but did she add value? tune in to find out...

Wednesday, Feb. 3rd at 7:30 central. On the DIY Network. Check you local listing for channel info.

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