When you’re purchasing a house with mortgage and asking yourself “ How much house can I afford?”, you must calculate your existing debt liabilities and compare it with your income to determine the amount you can comfortably pay as monthly mortgage payments. Assessing your affordability is important as you may also lose your house to [...]
0 CommentsFor a quick answer….Nope. I get this question often. Usually it is from a landlord that is frustrated because a tenant is always paying their rent late. Lots of landlords wait until the 28th to finally do something about it and then want to file an eviction. Here are some tips to fix the problem [...]
0 CommentsThe cost for evicting a tenant in Minnesota is set by each county, but has been standardized across the 7 county metro area. Below are the costs: Filing the eviction with the county=$320 (Hennepin County ads $2 for additional fees to support the large number of Minneapolis evictions). Process server can charge from $50-$100 to [...]
0 CommentsThere are many urban legends, rumors, and old wives’ tales surrounding owning investment real estate and evictions. Did you hear the one about the landlord not checking on his house for 3 years; when he finally went over there, the tenants had flooded the basement to grow fish to sell at the fish market? Many [...]
0 CommentsOne of the most popular investment property topics is probably eviction of tenants. I wrote a long explanation about Minnesota tenant evictions in October 2007 and I thought I would add a few additional comments. Once the eviction process has started, do not accept any partial payment from the tenant. Doing so can stop the [...]
0 CommentsIf you are a landlord long enough or own enough rental properties, you will eventually need to evicting a tenant. It can seem like a traumatic and complicated event, but if you follow some simple tips, it is actually quite simple. The rights and duties of landlords and tenants in each state are spelled out [...]
68 CommentsI love this old quote: Insanity: Doing the same thing over and over again and expecting different results. -Albert Einstein. I have been burned at least twice by this little trick that tenants play: Tenant short pays you on the 2nd to last month of the lease or does not pay you on the last [...]
0 CommentsAs I headed into another eviction this last week, the tenant asked me if I would be willing to set up an payment plan for her to pay her past due balance (in exchange for letting her stay). Here are my thoughts: As I have mentioned before, do NOT accept any partial payment between the [...]
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