Evictions and Terminating Tenancies (in Minnesota)

hand-65688_1280-PDIf 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)”

Malware SUCKS!

wordfenceLogo

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!

Budgets Are Sexy

3isplenty

My Sixth Investment Property and First Sheriffs Sale Purchase

SheriffIn Minnesota, we have a fairly involved foreclosure process.  After a sheriff’s sale, the owners has 180 days to redeem the property, and prevent the property from returning to the lien-holder.  This was my first sheriffs sale purchase, and my sixth investment property purchase.

Continue reading “My Sixth Investment Property and First Sheriffs Sale Purchase”

My Rental Strategy And Property Management

chess-335142_1280-PDI recently did a guest post for Kim at Eyes On The Dollar.  Kim is a private practice Optometrist and a personal financial blogger.  She has some great tips for financial independence and getting out of debt.  She is not someone who just says “Spend less, pay bill”, she actually experienced the thrill of paying off over $30K worth of credit card debt!

Here is the link to the post regarding my Rental Strategy.  I hope you like it.

There are many so called RE investors that pretend to cash flow, and they are not calculating any of the soft expenses.  Management, Vacancy and Maintenance are the big three.  Maintenance being a thing you can put off, and see profit, but it is in actuality deferred maintenance.   I allocate 10% of rents towards maintenance in my budgets, 5% for vacancy, and 7% for management.   And I expect ~15% ROI if I make the purchase.

All investors MUST have a rental strategy if they are going to be profitable.  My net worth went up considerably after I started investing in rental property, and it continues to climb.  My income, already decent, went up by over double.

Read More at: Rental Strategy And Property Management

Please let me know what you think of it.