Minneapolis Real Estate Blog

I helped a couple find an investment property in

NE Minneapolis.  We found a duplex that needed little to no maintenance.  They calculated what they would need to cover the rents on both sides to cover the mortgage payments and utilities.  They took out financing at 100%, found renters and moved forward.  It all seemed to work out well.  What they did not think about is the late rent payments, turnover of tenants, things getting broken and the upkeep of the grounds.  If you want to be a landlord, there is a lot of work to it and your payoff will not come in the first couple of years.  Rental properties are LONG term investments.  They now want me to list their rental property.

Kellie Clifford