BET ON THE JOCKEY, NOT THE HORSE: Five Traits to Look for in an Operator & Important Questions to Ask

How do you find the right team to help you reach your investment goals? Here are five things to keep in mind and questions to ask to help determine if your operator is the right fit for you.

Personality
Are they smart and hardworking? Do they have integrity? Take the time to find the right personality fit, and never rush into a deal or partnership.

Track Record
Don’t just look at how previous deals performed. Look at how they performed relative to the original business plan. Did the operator project a 20% IRR but only deliver 17%? That’s not a terrible return, but it’s suspicious when compared with the original objective.

Team
Apartment…

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Are you a die-hard fan of Minnesota winters? Or maybe the only thing that’s getting you through the winter is counting the days until spring. Most of us are somewhere in the middle—appreciating the beauty of the season but still needing a boost as we face each new day that seems longer, colder and snowier than the last.

Thankfully, Minneapolis is not a city that slows down when the temperature drops. So, pull on your boots, pull down your hat, and get out there to embrace—and conquer—the last weeks of winter.

The Great Northern Festival
Jan. 27 - Feb. 6
The Great Northern celebrates our cold, creative winters with 10 days of diverse programming that invigorates the mind and body, including public art, musical performances, lectures, workshops, and…

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A Bit About Bourbon

jerron smith bourbon blog image

I was born and raised in Kentucky, so I naturally have a taste for bourbon cocktails. I actually consider myself a bourbon connoisseur. When I moved here, I found that most people think bourbon and whiskey are the same thing, and the common word for any dark liquor is “whiskey.”

Actually, bourbon is a type of whiskey. Bourbon (which is commonly produced in Kentucky) must contain at least 51% corn in what distillers call the “mash bill” to be classified as bourbon. The amount of corn isn’t the only thing that will classify a whiskey as bourbon, though. By law, bourbon must be aged in newly charred white oak barrels so that it can achieve the traditional nutty and sweet flavor profile I know and love. And, more importantly,…

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The 12 Days of Shopping Local

Hats off to the delightfully creative local businesses that choose to call Minneapolis home. And what better time to support our wonderful retail community than the biggest shopping season of the year. Explore these stores and make it a resolution to shop local as much as possible all year long.

I Like You
1955 Johnson St. N.E.
I Like You is a gift shop that gives space to more than 300 artists selling unique cards, jewelry and gifts.

Les Sol
4353 S. Upton Ave. #104
Les Sol is an eclectic Linden Hills boutique offering small, indie brands and locally designed jewelry, women’s clothing and gifts.

D.NOLO
219 N. 2nd St.
This one-stop shopping destination houses three cutting-edge fashion and home décor…

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HOW DO I GET MY Minnesota REAL ESTATE LICENSE?

 

If you’re interested in starting a career in the exciting world of real estate, you’re at least 18 years old and a legal U.S. resident, you can follow these six steps to get your Minnesota real estate license.

Step 1: Register for Course I

There are three 30-hour courses (Course I, II, III) that need to be completed, but only Course I needs to be completed before the exam. Kaplan Real Estate Education offers multiple education options that fulfill the 90-hour requirement.

Go to www.kapre.com/real-estate-courses/minnesota/licensing/salesperson.

Step 2: Pre-Register for Your Real Estate License Exam

There are two ways to register:

· Online registration: Go…

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Win When You Sell (And When You Move)

If you’re trying to decide when to sell your house, there may not be a better time than this winter. Selling this season means you can take advantage of today’s strong sellers’ market when you make a move.

Win When You Sell

Right now, conditions are very favorable for current homeowners looking for a change. If you sell now, here’s what you can expect:

  • Your House Will Stand Out – While recent data shows there are more sellers getting ready to list their homes this winter, there are still more buyers in the market than there are homes for sale. If you sell your house now before more houses are listed, it will get more attention from serious buyers who are eager to find a home.
  • Your House Will…

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Don’t Believe Everything You Read: The Truth Many Headlines Overlook

There are a lot of questions right now regarding the real estate market as we head into 2022. The forbearance program is coming to an end and mortgage rates are beginning to rise.

With all of this uncertainty, anyone with a megaphone – from the mainstream media to a lone blogger – has realized that bad news sells. Unfortunately, we’ll continue to see a rash of troublesome headlines over the next few months. To make sure you aren’t paralyzed by a headline, turn to reliable resources for a look at what to expect from the housing market next year.

There are already alarmist headlines starting to appear. Here are two recent topics you may have seen in the news.

1.…

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Great Vacation Rentals in the North Loop

In the 19th century, the North Loop was a bustling hub of commercial and industrial activity.

Today, the spacious warehouses and turn-of-the-century industrial aesthetic have been preserved, but everything else in this cosmopolitan neighborhood has transformed to suit the modern lifestyles of its residents.

The North Loop has seen more development than any other part of Minneapolis in the past decade as aging industrial buildings have been converted into modern lofts and condos and boutique shops, restaurants, bars and art galleries occupy the renovated storefronts. It’s isolated from the traffic of the freeway but close to downtown, light rail, bike paths, and walking trails along the Mississippi…

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Duck and Cover! Inflation is Coming!

Catchy title, right?

Do I think you should be worried about inflation? Oh, hell yes. But as a real estate investor and agent, I see this as an AMAZING time to get into real estate investing, BECAUSE of inflation.

Let’s take a step back and do a quick review of inflation. I’m no Adam Smith, but I feel I’ve got a decent understanding of the fundamentals of economics. So, what is inflation? Inflation is the general decrease in the value of the dollar compared to its ability to purchase goods and services. Meaning, if a gallon of gas costs $3 today, then tomorrow, that same $3 might only get you three quarters of a gallon of gas. Good example? Ok, here’s another. Say you like to go to Valleyfair (I mean, who…

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One of the major components of the recent mayoral elections in the cities of St. Paul and Minneapolis was a vote for or against rent control. In this article, I’m going to break down what you need to know about rent control broken down by each city, how it could affect the rental real estate market, and opportunities in the investment space given the vote’s outcome.

First, it’s extremely important to note that TWO votes occurred - one for the city of St. Paul and one for the city of Minneapolis. The outcomes of each are similar - in that the rent control vote “passed” - but the outcomes that we’ll see from this vote are very different. Let’s break this out by city, and then discuss the outcome of the vote, the potential short term effects, and…

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