Looking for investment properties?
St Paul Minnesota is a great place to buy rental / investment properties.
Good areas to consider for higher rents and alot of renters out looking are:
Merriam Park
Town and Country
Macalester Groveland

There tends to be alot of students looking in these areas because of the number of colleges such as: St Catherine, Hamline, Concordia, St Thomas and Macalester.
We have found that students are good tenants, stay for at least a year and since parents typically pay the rent, there is rarely an issue with collecting rent on time.
The typical homes in this area available for rentals / investments are Single Family Homes and Duplexes. There are other options as well but keep in mind, if you get 5 or more units in a building, it will be considered a commercial building and therefore have different financing guidelines.

Do you want to get into the St Paul rental / investment property business?
Contact me today!

Jen McKinnon
Realtor / Investor
AGENT REFERRAL NETWORK
MN Real Estate Team

612.384.1073
jen[at]mnrealestateteam[dot]com

With investment properties, there is money to split or transfer at closing.  I had a client asking about this the other day as the closing on his new duplex in Champlin is coming up this week.

Bottom line, as the home buyer, you should get prorated rent for the month that the closing occurs - you will get rent for the actual day of closing through the end of the month.  You should also get the security deposit plus accrued interest for the time period that the tenant has already lived in the property.  Taxes will also be prorated just like any other transaction. 

Utility bills should be paid by seller up to day of closing and should be transfered to the seller starting day of closing and moving forward.

To ensure a smooth home buying transaction, your realtor should make sure these funds are being handled correctly through the title company.

Jen McKinnon
Realtor/Investor
612.384.1073
jen@mnrealestateteam.com

AGENT REFERRAL NETWORK
MN Real Estate Team