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Post by fixitguy on Nov 2, 2021 20:54:08 GMT
Today the city of Minneapolis votes on a few items.
1. The mayor is up for reelection.
2. They have a vote to defund the police dept, and start a non gun carrying intervention force.
3. Rent prices, The city is going to be the one to tell the property owner how much you can charge for rent.
This should be interesting to see how the votes come out. Violent crimes are way up in the last few years.
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Post by Cabin Fever on Nov 2, 2021 22:54:47 GMT
Today the city of Minneapolis votes on a few items. 1. The mayor is up for reelection. 2. They have a vote to defund the police dept, and start a non gun carrying intervention force. 3. Rent prices, The city is going to be the one to tell the property owner how much you can charge for rent. This should be interesting to see how the votes come out. Violent crimes are way up in the last few years. I know how I would vote on those issues, but thankfully I have not lived in Minneapolis since I was 8 years old. |
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Post by fixitguy on Nov 2, 2021 23:32:22 GMT
Cabin Fever, The last time I was in that city was 3 years ago for a football game. We took the light rail in and out, and that's about all this guy could take. Unfortunately, we are only 50-70 miles away from the worst parts of that Minneapolis. In the last month we have had three cars stolen from rural residences, ending up in Minneapolis. A few weeks ago some converters were cut off delivery trucks in our business district. A month or so back, a guy killed 4 people in Minneapolis and dumped the SUV and victim's in a corn field in western Wisconsin. The trash normally stayed far from this area, not so much now. I'm not sure how much the urban sprawl will come, but if they happen to find the wrong place...it's going to be on the news.
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Post by joebill on Nov 7, 2021 12:11:28 GMT
So the mayor will set rent prices  I guess that means rents are free and the mayor will remain in office forever.....until all of the rental properties fall down and rot away. THEN, it will be the fault of the SLUM LORDS! ....Joe |
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Post by David! on Nov 7, 2021 23:33:14 GMT
As a landlord I would give every tenant I had notice as soon as it was legally possible and then keep the houses empty until I sold them at a slow pace. Anyone who thinks the government knows anything about rentals and the associated costs needs to drive through the projects in most cities. The cost to manage and keep these properties in disrepair is usually unbelievable for the average small landlord. Good luck Minneapolis!
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Post by Ozarks Tom on Nov 8, 2021 0:08:39 GMT
I was born in Minneapolis, lived in the suburbs for 14 years, then south about 75 miles until I joined the army.
I met a lot of people growing up with after school jobs, paper boy, gas station attendant, and don't remember anyone that had an apparent lack of common sense. What has happened to Minneapolis and St Paul is a complete mystery to me. How they'd elect a city government that's so outrageously radical is beyond me.
Are they trying for the title of "Seattle of the Midwest"?
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Post by joebill on Nov 8, 2021 13:24:09 GMT
Most of the folks I have met who invested in rental properties were eventually just as satisfied with their purchase as those who invested in vacation time shares I know it can be done well by folks who know how to keep a really sharp pencil, but only if they are smart, hard working and also LUCKY! One poor old widow I knew thought she was set for life when her husband passed, leaving her a fleet of rentals, all occupied, but then discovered that each and every one of them was past due for a new roof by a few years. She simply did not have the money, nor the ability to climb up there and do the work herself. Last I heard, she was trying to form a romantic attachment to a roofer, but they were all at least 30 years her junior and not so inclined, so she sold the whole bunch of rentals at fire sale prices and took a job at a dollar store. Again, I know some folks get rich doing it, but they are usually the smartest and hardest working people anywhere around....Joe |
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Post by joebill on Nov 8, 2021 13:45:35 GMT
I was born in Minneapolis, lived in the suburbs for 14 years, then south about 75 miles until I joined the army. I met a lot of people growing up with after school jobs, paper boy, gas station attendant, and don't remember anyone that had an apparent lack of common sense. What has happened to Minneapolis and St Paul is a complete mystery to me. How they'd elect a city government that's so outrageously radical is beyond me. Are they trying for the title of "Seattle of the Midwest"? Enjoy.....Joe |
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Post by tabitha on Nov 11, 2021 14:27:06 GMT
I had a friend who did well with rentals. she was sharp as a tack, frugal, and rich.
I guess she sifted her renters.
she told a new renter, I am your landlady from hell.
but you do well and you get treated well.
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Post by Jolly on Nov 11, 2021 15:18:11 GMT
Most of the folks I have met who invested in rental properties were eventually just as satisfied with their purchase as those who invested in vacation time shares I know it can be done well by folks who know how to keep a really sharp pencil, but only if they are smart, hard working and also LUCKY! One poor old widow I knew thought she was set for life when her husband passed, leaving her a fleet of rentals, all occupied, but then discovered that each and every one of them was past due for a new roof by a few years. She simply did not have the money, nor the ability to climb up there and do the work herself. Last I heard, she was trying to form a romantic attachment to a roofer, but they were all at least 30 years her junior and not so inclined, so she sold the whole bunch of rentals at fire sale prices and took a job at a dollar store. Again, I know some folks get rich doing it, but they are usually the smartest and hardest working people anywhere around....Joe Knew a guy who had 52 rent houses, give or take. Guy was retired Air Force, so the pension paid his regular bills and he devoted all of his time to acquiring rental properties, fixing them, renting them and selling them. He acted as his own realtor. He was very specific in what he wanted. He wanted a brick veneer house, built in the sixties and seventies. He wanted it in an area of town where white flight was occurring...Where older people were dying out and younger ones just wanted out. He wanted homes that weren't over around 1500 sqft, heated and cooled. He wanted stuff he could paint just about everything interior and exterior using a six-foot stepladder. He had a guy who worked for him full-time as a handyman. He'd often team up with the guy to wash a house, paint, etc. I have known him to hire some high school boys for cash, to pick up and empty houses and yards. He had a shop behind his home, where he kept room air conditioners, refrigerators and stoves, ready to install. He also had another section of the shop, for stuff that was broken...When it became large enough, he called in an appliance repair guy to work on the whole bunch. He also had a section of the shop for paint. He bought everything that Lowes had received back - bad colors, mis-made colors, etc. - and he'd mix like shades in five-gallon buckets. Whatever that bucket turned out to be, was the paint that was used inside a house. He was very strict with his renters, and had a reputation for it. One time, he did have sympathy for one of his best renters...She had a sick child and she had been very good in paying her rent for years. But after he packed her for a few months, word got out. At first, about a quarter of his renters didn't pay their rent that month. The next month, over a third didn't pay. He instituted eviction procedures against the woman and wound up setting her belongings in the front yard. He didn't have a single renter not pay the month after that happened. He would give discounts to renters if they kept up the property. For example, if you mowed your own (small) yard, you got $50 off of your rent. Trim the overgrown hedges and maybe he'd knock off $25. Lastly, he wasn't wed to any property. Once he established a good set of books with a positive cash flow, he didn't mind selling anything, if a good profit was available. He died maybe ten or twelve years ago, but his daughters still carry on the business. The only difference I know of, is that they have built some duplexes and are renting those. |
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Post by joebill on Nov 13, 2021 21:57:47 GMT
I was only a landlord for maybe 6 months, once in my life. I have never been lied to half that much before nor since They called once to tell me they needed a new water heater, so I popped for one, but when I moved them out of the place a few months later, the old one was still in place, working just fine. Later, as the water plant operator, I stopped in at the new house they had built while living in mine. The guy I had with me later inquired why I tipped my hat inside their house, and I told him I was just "saying hello to my new water heater" that had somehow wound up in their house. My friend pointed out to me that by letting them get by with that, I was making them think I simply did not care, which was a valid point, and after that I became a lot harder to deal with by liars and crooks. Those jerks had been going to abandon a long line of old fridges in the kitchen of my house they had been renting, but they found out different in a hurry. Enough is enough.....Joe |
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Post by UseLess on Nov 13, 2021 23:24:32 GMT
One of my all-time favorite students is finishing his second medical doctorate in Minneapolis, and he's this side of 30. I hope he and his SO will move once they're done with their schooling.
I wish I'd known the house next door was being sold for taxes. I'd seriously have thought of buying it, and taken my sweet ol' time renovating it. Or rented it back to the pleasant-enough family who lost it. Mostly dumb as stones, but polite and friendly. The dad was doing a reasonable job parenting hi/hers/theirs. Now it belongs to a slum-lord. The woman head-of-household renter is a piece of work.
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Post by Txsteader on Nov 14, 2021 23:19:07 GMT
Well, it looks like Minneapolis voters aren't completely stupid. They rejected defunding the police department lol.
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Post by UseLess on Nov 14, 2021 23:26:50 GMT
One of my all-time favorite students is finishing his second medical doctorate in Minneapolis, and he's this side of 30. I hope he and his SO will move once they're done with their schooling. I wish I'd known the house next door was being sold for taxes. I'd seriously have thought of buying it, and taken my sweet ol' time renovating it. Or rented it back to the pleasant-enough family who lost it. Mostly dumb as stones, but polite and friendly. The dad was doing a reasonable job parenting his/hers/theirs. Now it belongs to a slum-lord. The woman head-of-household renter is a piece of work. |
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