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Updated by Matt Taschner on Sep 11, 2020
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We Buy Minnesota Houses

Address: 1226 Concord St S South Saint Paul, MN 55075

Phone: (612) 293-3532

Website: https://www.mattbuyshousesmn.com/

Matt Buys Houses MN is a real estate solutions company based out of South Saint Paul.  We’re a family owned business and focus on helping homeowners like you find solutions for your problem whether you’re going through a foreclosure, can’t sell your property, or just need to sell their house for all kinds of reasons.

Source: https://www.mattbuyshousesmn.com/

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6 Things To Look For In a Twin Cities Rental Property

6 Things To Look For In a Twin Cities Rental Property

When you are ready to purchase your next Twin Cities rental, there are a few things to keep in mind when looking for a property. Here are six things to look for in a Twin Cities rental property:
Location

Having a rental property in a great location means you will have plenty of tenants to choose from. Your property will always be in demand, and you should experience low to no vacancy rates. To be safe, of course, you will still need to factor in the suggested vacancy rate to your rental proforma. Great rental properties are usually near high performing school systems, grocery stores, shopping, entertainment, and may also be a short drive from major highways or other large attractions in the state.
Cash Flow & Growth Potential

A great rental property will have a positive cash flow every month with minimal expenses and minimal vacancy. Your rental property will also be great if it has growth potential. If it is in a great location and demand is high, you will be able to justify raising the rent especially if one tenant moves out and another is lined up to move in. Make sure you keep an eye on the Twin Cities market rental rate and stay close to that. If you mark your rent too high, you may deter some tenants.
Property Condition

A great rental property will be in excellent condition. You may have to do some upgrades to the kitchen or bathrooms at the time of original investment, but overall it will be worth it. Tenants are willing to pay for quality. Also keep in mind, the better the condition of the property, the fewer repairs that will need to be made, and less likely the tenants will take it for granted. In general, they will work to keep the property in great shape for you!
Property Management

A great rental property takes great property management! You may want to consider hiring a property management company to turn your investment into a great rental property. For help selecting a great property manager in Twin Cities or Minnesota, give Matt Buys Houses MN a call at 612-293-3532 to discuss your needs and intended level of involvement. You want to make sure you maintain the integrity of the structure and surrounding yards, all major appliances, and HVAC systems.
Property Value

A great rental property will be valued at more than you paid for it! In order for this to happen, you may have to purchase your rental as a distressed property and put some money into it. If it’s in the right location with the right demand, your property value should slowly rise and make for a great profit in the future! Just make sure you hang on to it for more than a year, the longer the better for reduced capital gain taxes. When this happens, it makes for a great exit strategy.
Market Trends

It is important to keep an eye on market trends for your rental property in Twin Cities. You want to make sure your rental is keeping up with the rental rates and property values. This will help your property make as much money as possible for a great rental property. This will also let you know when the best time to sell your investment is. If the market starts taking a downward turn, you want to make sure and sell your rental property while it will still make you a profit!

When you work with Matt Buys Houses MN, we take the guesswork out of the buying process. We research our properties and make sure they will fit your investment portfolio. Give us a call today at 612-293-3532 to discuss these six things to look for in a Twin Cities rental property.

4 No Stress Tricks for Preparing to Sell an Inherited Property in Twin Cities – Matt Buys Houses MN

Thinking about selling your inherited house? In this blog post you’ll read about the 4 no stress tricks for preparing to sell an inherited property in Twin Cities so you can sell it easily, with no hassle.

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3 Things To Do if An MLS Listing Hasn’t Worked For Your Twin Cities Property

So you’ve listed your home and it’s been sitting on the MLS, it’s a well-known fact that the longer a home sits on the market, the harder it becomes to sell. We’ll cover 3 things you can do if an MLS listing hasn’t worked for your Twin Cities property.
Wait It Out

Whether you go it on your own or list your home here in Twin Cities with a real estate professional, there are no guarantees the house is going to sell. Few people have the luxury of the time nor the financial means to afford holding onto a listing for an indefinite period.
Consider Rent to Own

Should you decide to sell your property in Twin Cities as a rent to own, remember at the end of the agreement, if the renters do not want to buy the property anymore, they aren’t obligated. Buyers usually pay an upfront non-refundable consideration or option fee for the “option” to purchase the property in the future. Your rent to own agreement should specify the final purchase date and how the price will be determined.

You’ll remain responsible for property taxes, HOA fees, and insurance and possibly maintaining the property. Typically, the current owner handles major repairs. Renters are normally responsible for lawn maintenance, pool cleaning, etc. Be clear on who would be responsible for items such as large appliances, structural repairs, and routine maintenance in the lease.
Sell Your House Directly

Direct buyers in Twin Cities, Minnesota typically close faster, usually paying full in cash. Traditional home purchases usually require qualifications from banks, mortgage underwriting time, property inspection time and the buyer may not end up qualifying! There are also normally no commissions paid to a buyer’s or seller’s agent which means big savings. Direct buyers also may not charge transaction fees; if they do, they are extremely low in comparison to the commission or closing costs you would have to pay otherwise. They can also work with out of state owners.

One of the biggest complaints buyers have about working with direct buyers in Twin Cities is that the offers are usually below market, but this is for a good reason! The buyer is taking on a huge risk by purchasing your house as-is, for your home may be more damaged than you realize!

Direct buyers in Minnesota will usually purchase homes as-is. As a seller, there’s no need to worry about repairs before closing or any other additional unexpected expenses. There are some companies that do not require inspections which makes it a truly as-is transaction.

Selling to a professional home buyer is straight forward. Laying out every step of the process and usually shortened, clear contracts that are simple as-is purchase agreements. You’ll have lessened exposure to legal risks. Under most traditional real estate contracts, there is a potential for the buyer to sue you if they feel they didn’t get all of the information, or if they feel the facts were misconstrued. Direct buyers already know the state of the property, and they take on that risk.

Skip the nightmares showings can bring. Forget about leaving your home spotless, running into buyer’s agents or their clients. No more buyers arguing over furniture either! Direct buyers are investing, and won’t be moving in. Most home buyers will allow a move-out timeframe after closing. This is extremely helpful with such quick closing timeframes.

If an MLS listing hasn’t worked for your home in Twin Cities, as direct buyers, Matt Buys Houses MN offers quick transactions that will put cash in your pocket fast. We make the process easy and much less stressful overall.
We welcome you to contact us today at 612-293-3532 to save yourself frustration, time, and most importantly, money over an MLS listing in Twin Cities!

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