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Ten Homes Sold In Richfield the week of

July 14-20, 2014

Address  Price  Seller Paid  Bedroom  Bath  Sq. Ft.   
             
6859 Portland Avenue  $135,550  $4056  2 2 1490  
             
6909 Newton Avenue S   $152,000  $4560 2 1 780  
             
2909 W 70th Street  $179,000  $5470 3 1 2482  
             
7621 14th Avenue S 
  $191,000  $5730 2 2 1538  
             
7233 11th Avenue S   $205,000  $0  3 2  1670  
    
        

6613 Humboldt Avenue S
  $207,000  $6000 4 3 1900  
    
        
7632 Upton Avenue S  
  $225,000  $6750  4 2 1793  
   

        
6838 Logan Avenue S
$225,075
$3000
3
2
1483
 





        
6932 Harriet Avenue S  
  $224,900  $4498 4 1 1340  
             
7239 Morgan Avenue S  $230,000  $0 4 2 2105  

 

Ten Homes Sold In Richfield the week of

July 07-13, 2014

Address  Price  Seller Paid  Bedroom  Bath  Sq. Ft.   
             
7245 Elliot Avenue S  $169,900  $5097  3 1 1238  
             
 7532 12th Avenue S   $168,000  $0 2 2 1548  
             
6932 Wentworth Avenue S $176,000  $5280 3 2 1632  
             

7236 Harriet Avenue
  $193,000  $8000 3 1 1324  
             
6801 2nd Avenue S   $193,400  $0  3 1  1616  
    
        
7501 Pillsbury Avenue S   $210,000  $0 3 2 1640  
    
        

6326 Thomas Avenue S
  $229,900  $869  4 3 2177  
   

        
 6244 Bryant Avenue S
$257,500
$7500
3
2
2252
 





        

7221 Logan Avenue S
  $373,451  $0 4 3 2017  
             
7308 Lyndale Avenue S   $359,764  $0 3  3 2020  

 

Twelve Homes Sold In Richfield the week of

June 30, 2014 - July 06, 2014

    
        
Address  Price  Seller Paid  Bedroom  Bath  Sq. Ft.   
             
6611 Newton Avenue S   $130,000  $0 3 2  1656  
             
6933 5th Avenue S   $177,000  $0 3  1 1440  
             
6321 4th Avenue S  $182,000  $5600 4  2 1680  
             
6337 15th Avenue S  $184,900  $5547 3  2 1450  
             
7408 Oakland Avenue S  
  $210,000  $5250 4 2 2081  
             
7420 13th Avenue S  $197,900  $0 4
 2
 1480
  
             
7133 Oliver Avenue S  $205,000  $2500  3 2 1731  
             
7027 Newton Avenue S
$225,000
$0
3
2
2089
 
             
6727 Park Avenue  
  $222,500  $6500 3
  2  2126  
             
6804 Vincent Avenue S   $236,000  $0  3 2 1661  
             
6333 4th Avenue S  
 

 $269,900

 

 $5000

 

3

 

 2

 

1973

 

 
             
7245 12th Avenue S  $275,000 

 $4125

 

4

 

3

 

2223

 

 
             

 

Thirteen Homes Sold In Richfield the week of

June 23 - 29, 2014 

    
        
       Address  Price  Seller Paid Closing  Bedroom  Bath  Sq. Ft.   
             

7008 5th Avenue S
 
 
 $175,000
  $5250 3 1 1688  
             
7436 Pillsbury Avenue S
  $175,000  $5000 3 2 1373  
             
  6739 Chicago Avenue
  $178,000  $5135 3 1 1500  
             
  6244 3rd Avenue S   $180,100  $5403 3 2 1415  
             
  7610 Columbus Avenue   $188,055  $5850 4 2 1734  
             

7444 2nd Avenue S

  $187,900  $5637 2  2 1237  
             
  6825 11th Avenue S
$205,000
  $6150 4
 3 1820
   
             
  7509 Aldrich Avenue S
$223,000
$5000
3
2
1411

 
             
6415 Pillsbury Avenue S
  $229,900  $6897 3  2 1665  
             
  7245 Oliver Avenue S   $240,500  $7215 3 2 1741  
             
6825 Garfield Avenue
 
 

$247,900 

 

$0

 

4

 

2

 

2340

 

 
             
 7124 Garfield Avenue   $281,600 

$0

 

 

2

 

2243

 

 
             
6831 Newton Avenue S
 $314,900  $6298 3 4 2646  
             












 

 

Five Homes Sold In Richfield for the week

June 16 - 22, 2014

   Address 
Price
Seller Paid
Bedroom
Bath Sq. Ft.   
             
  7621 2nd Avenue S   $145,000  $1000 3 1  1568  
             

7008 2nd Avenue S
 
  $176,000  $0 2 2 876  
             
  6338 16th Avenue S
  $204,000  $6120  3  2 1628  
             
 7610 Chicago Avenue  
  $185,000  $0 4  2 2003  
             
 6716 Russell Avenue S   $198,500  $0 3 2 1495  

 

Thirteen Homes Sold In Richfield the week of

June 09 - 15, 2014 

    
        
       Address  Price  Seller Paid Closing  Bedroom  Bath  Sq. Ft.   
             

6321 14th Avenue S
 
 $135,000  $4050 2 1  900  
             
7432 Thomas Avenue S 

  $150,211  $4506 4 2 1550  
             
  6725 14th Avenue S   $140,500  $0 2  2 1842  
             
  6716 14th Avenue S   $153,175  $5654 3 2 1610  
             
  7129 Stevens Avenue S  $168,000  $6000 3 1 1496  
             

6925 Chicago Avenue
  $189,500  $5685 3  2 1687  
             
  7225 Grand Avenue S
$191,000
  $5558 3
  2 1550
   
             
  6322 Pleasant Avenue
$198,900
$5967
4
2
2057
 
             
 6929 Park Avenue S
  $200,000  $6000 3  2 1812  
             
  6709 16th Avenue S   $195,000  $3900 4 2 1910  
             

6338 Knox Avenue S
 
 

$246,900 

 

$4704

 

3

 

2

 

1756

 

 
             
   7333 Girard Avenue S  $259,900 

$1500

 

 

3

 

1832

 

 
             
  6326 3rd Avenue S
 $324,000  $4000 4 3 2793  
             












 

 

Eight Homes Sold In Richfield the week of

June 2 -8, 2014

Address  Price  Seller Paid Bedroom Bath  Sq. Ft.   
             

7527 Pleasant Avenue
  $85,000  $0 2 1 768  
             
6337 Girard Avenue S  

  $153,000  $0  2 2  1325  
             
7501 12th Avenue S  

  $181,000  $2715 3 1 925  
             

6817 Xerxes Avenue S
 
  $188,000  $5640 3 2 1306  
             
  7215 Newton Avenue S
$197,000
 $5808

3

1

1898

  
             
6733 Sheridan Avenue S  

  $185,000  $0  3  1 1911  
             
6232 4th Avenue S
 
  $190,000  $5700 3 1 1890  
6809 4th Avenue S  
 
  $240,000  $7013  4 3 2000  

 

Fourteen Homes Sold In Richfield the week of

May 26 - June 1, 2014 

    
        
  Address  Price  Seller Paid Closing  Bedroom  Bath  Sq. Ft.   
             

7412 5th Avenue S
  $120,750  $0 3 2  1805  
             

6421 Oliver Avenue S
 $169,000

$5070
 3 2 1210  
             
 6936 Queen Avenue S

$165,000  $2000 2  1 1152  
             
 7421 4th Avenue S
  $178,000 $24820

2  2 1294  
             
  6525 Girard Avenue S   $189,000  $5500 2 1 1180  
             

6813 Knox Avenue S
 
 
 
  $195,744  $5873 3 2 11440  
             
  7344 3rd Avenue S   $207,250  $5793 3 1 1388  
             
6854 Penn Avenue S
 

$226,600
$6600
4
3
2425
 
             
6511 Newton Avenue S  
  $237,000  $7000 4 2 1805  
             
  7200 10th Avenue S   $229,000  $6870 3 2 2285  
             
 7414 Clinton Avenue
 

$257,400

 

$7722

 

4

 

2

 

2186

 

 
             

7111 James Avenue S
 

  $305,000 

$0

 

5

 

2

 

2519

 

 
             

6424 James Avenue S
 
 $305,000  $0 3  3 2483  
             

6812 14th Avenue S

  $333,206  $0 3 3 1985  

 

Fourteen Homes Sold In Richfield the week of

May 19 - 25, 2014 

    
        
  Address  Price  Seller Paid Closing  Bedroom  Bath  Sq. Ft.   
             
 6226 Girard Avenue S   $91,875  $0 3 2  1608  
             
  7301 Upton Avenue S   $161,500  $0 3 2 1509  
             
 6406 16th Avenue S

$150,000  $5000 3  1 1020  
             

6516 Portland Avenue
  $158,500 $2500

2  2 951  
             
  7336 5th Avenue S   $169,500  $5933 4 1 1302  
             

6700 Elliot Avenue S

  $171,000  $0 4  1 1997  
             
 7501 Thomas Avenue S   $173,500  $2603 2 1 1738  
             
6514 Humbolt Avenue
 

$206,600
$6198
3
2
1256
 
             

6729 Emerson Avenue S
  $214,700  $6441 3 1 1984  
             
  7521 5th Avenue S   $219,000  $3000 3 2 2101  
             

6845 Garfield Avenue
 

$221,000 

 

$0

 

3

 

2

 

1436

 

 
             

6245 Irving Avenue S

  $235,000 

$7000

 

3

 

3

 

2008

 

 
             

2024 Forest Drive W
 $245,000  $0  4  2 2084  
             

6544 Girard Avenue S
  $263,000  $0 3 4 4074  

 

Nine Homes Sold In Richfield for the week

May 12-18, 2014

              Address  Price  Seller Paid  Bed room  Bath  Sq. Ft.   
             

6334 16th Avenue S
 $100,000
  $0 2 1
 1240  
             
  7621 Portland Avenue
 $117,000  $2340 3
 2
1700  
             

6428 Bloomington Avenue
 $127,500  $3500 1 1 638  
             

6604 4th Avenue S
 
 $125,000
  $0 3 2
 1550  
             
   6245 Russell Avenue S   $182,000  $0 3 2 1937
  
             

6928 Logan Avenue S
 
 $184,000
  $5520  1 1622
  
             
  6335 Thomas Avenue S  
 $215,000
  $6450  2 1610
  
             
   6305 Harriet Avenue   $224,000  $6720 3 2 1700
  
             
 
6234 Morgan Avenue S
  $242,000  $7000 3 2 1835
  

 

Three Homes Sold In Richfield for the Week

May 5 - 11, 2014

Address  Price  Seller Paid  Bedroom  Bath  Sq. Ft.   
             
6712 Russell Avenue S   $188,700  $5610 3 1  1154  
             
7120 Bloomington Avenue S   $193,000  $3000 3  2 1458  
             
6996 Humboldt Avenue S   $317,000  $9000 3 3 2750  
             

 

Fourteen Homes Sold In Richfield the week of

April 28 - May 04, 2014 

    
        
Address  Price  Seller Paid Closing  Bedroom  Bath  Sq. Ft.   
             
 6312 15th Avenue S   $110,900  $0 4 1  1659  
             
 2617 W 66th Street   $152,000  $0 3 2 1744  
             

6645 Xerxes Avenue S
  $165,000  $0 3  2 1568  
             
 6926 Oakland Avenue S   $174,900 $0
  3  2 1422  
             
 6905 Thomas Avenue S   $160,000  $3600  2 1 1223  
             

7527 Bloomington Avenue
  $195,000  $0 4  2 1748  
             
 7621 Thomas Avenue S  $210,000  $6300  4 2 1852  
             

7227 Knox Avenue S

$188,000
$0
3
1
1256
 
             
7108 13th Avenue S   $198,000  $0 3 1  1400  
             
7620 Blaisdell Avenue   $219,000  $3200 3 2 1799  
             
7545 15th Avenue S  

$218,000 

 

$0

 

3

 

2

 

1724

 

 
             
 6828 Garfield Avenue
  $212,000 

$4695

 

3

 

1

 

1700

 

 
             
 6421 Logan Avenue S $225,000  $6750  3  2 1807  
             
 7536 1st Avenue S   $229,150  $2622  4 2 2240  

 

Thirteen Homes Sold In Richfield the week of

April 21 - 27, 2014 

    
        
       Address  Price  Seller Paid Closing  Bedroom  Bath  Sq. Ft.   
             

 6816 Penn Avenue S
  $106,000  $0  3 1  1380  
             
  1505 E 62nd Street
  $154,899  $4500 2 1 1238  
             
   2877 W 71 1/2 Street   $148,000  $4400 2  1 1131  
             
  6319 Logan Avenue S   $163,800  $4914 2 1 806  
             
  6305 Newton Avenue S   $168,000  $0 3 2 1852  
             
  6532 2nd Avenue S   $179,900  $0 3  2 1600  
             
  7217 Stevens Avenue  $207,000  $6210 4 2 1871  
             
  3000 W 74th Street
$185,550
$5567
3
1
1306
 
             

2901 W 71st Street
  $210,000  $0 3  2 1402  
             
  6741 Columbus Avenue   $202,007  $6060 3 1 1601  
             

7418 Pillsbury Avenue S
 

$212,000 

 

$4240

 

3

 

3

 

1712

 

 
             
  1600 W 66th Street   $189,000 

$0

 

 

3

 

2438

 

 
             

 6408 S 5th Avenue
 $427,000  $0 4  2 3800  
             












 

 

Nine Homes Sold In Richfield for the week

April 14 -20, 2014

Address  Price  Seller Paid  Bedroom  Bath  Sq. Ft.   
             
     6226 Stevens Avenue  $155,000
  $0  2
 2131  
             

 7333 Blaisdell Avenue

 $171,103  $5103 3
 2
1672  
             
    7205 Stevens Avenue  $169,900  $4900 3 1 1866  
             
  13th Avenue S

 $187,000
  $5000 3 1
 1445  
             
   6617 Thomas Avenue S   $195,000  $5850 4 1 1462
  
             
  7304 Clinton Avenue S


 $205,000
  $6150  2 1659
  
             

6329 Harriet Avenue S e

 $170,000
  $0  2 1740
  
             
   6833 4th Avenue S   $208,000  $5705 4 2 1591
  
             
   6315 Vincent Avenue S   $228,000  $7735 3 2 1915
  

 

Seven Homes Sold In Richfield the week of

April 07 - 13,  2014

Address  Price  Seller Paid  Bedroom  Bath  Sq. Ft.   
             

7345 1st Avenue S
 
 $149,435  $0 3 2 2522  
             
  7420 Colfax Avenue S  $164,000 $2000  1 1125  
             
 7324 17th Avenue S
 $190,000 $0 3  1519  
             
 7527 15th Avenue S
 $198,800  $2500 4 2 1877  
             

 6429 5th Avenue S
  $189,900  $0 3 2 2532  
             
 
6904 Thomas Avenue S
 $190,000  $0 5 2 1309  
             
  6526 5th Avenue S  $370,000
  $0 4 2 2001  
             
             
             
             

 

Five Homes Sold In Richfield for the week

March 31 - April 06, 2014

Address 
Price
Seller Paid
Bedroom
Bath Sq. Ft.   
             
  7209 Thomas Avenue S  $151,000  $0 3 1  1168  
             

7226 Morgan Avenue S
  $200,000  $6500  3 2 1580  
             
 2820 W 70 1/2 Street
  $190,000  $1000  3  2 1400  
             

7526 Portland Avenue
  $230,700  $4614 3  2 2421  
             
   6445 5th Avenue S  $329,000  $0 3 3 2550
  

 

Six Homes Sold In Richfield the week of

March 23-30, 2014

               Address  Price  Seller Paid  Bedroom  Bath Sq. Ft.   
             

   6907 Knox Avenue S
  $176,000  $7910 2 2  1461  
             
   6220 4th Avenue S  
  $178,000  $5340 4 2  1778  
             
    2605 W 66th Street   $174,000  $0 2 1  1368  
             
   6700 3rd Avenue S
  $206,000 
 $6000 4   1613  
             
    6510 Humboldt Avenue S   $232.000  $7000 3 2 1762  
             


7509 Wentworth Avenue
  $309,000  $9270 4 3 3464  

 

Three Homes Sold In Richfield for the Week

March 17 - 23, 2014

Address  Price  Seller Paid  Bedroom  Bath  Sq. Ft.   
             
7244 Penn Avenue S   $122,000  $0 2 1  1040  
             
6501 Humboldt Avenue S   $192,500  $5000 3  2 1338  
             
7308 Newton Avenue S   $208,900  $10000  2 2 1864  
             

 

Eight Homes Sold In Richfield the week of

March 10 - 16, 2014

Address  Price  Seller Paid Bedroom Bath  Sq. Ft.   
             
   6520 Emerson Avenue S  $118,000  $3540 3 2 896  
             

6321 13th Avenue S

  $152,600  $4578  3 1  1328  
             

6314 Girard Avenue S

  $153,500  $0 3 1 1350  
             

 7139 Oliver Avenue S
  $172,500  $5000 2 1 1190  
             
  7408 Elliot Avenue S   $192,000  $0 3 2  1330  
             

7200 14th Avenue S

  $199,500  $0  3  2 14544  
             

6314 Knox Avenue S

  $195,400  $5862 3 2 1691  

 


6708 Columbus Avenue

 

  $223,500  $2000  4 2 1501  

 

Nine Homes Sold In Richfield for the week

March 03-09, 2014

Address  Price  Seller Paid  Bedroom  Bath  Sq. Ft.   
             
6914 11th Avenue S  $131,000
  $0   1256  
             

7141 Portland Avenue
 $131,856  $0 3
 2
2090  
             
7401 Sheridan Avenue S  $149,000  $0 3 2 1388  
             

7415 Xerxes Avenue S

 $155,000
  $4650 2 1
 1089  
             
 7320 Pleasant Avenue   $159,500  $4785 3 2 1822
  
             
 


7301 17th Avenue S
 $185,000
  $5550  2 1322
  
             
 


7208 Columbus Avenue

 $177,000
  $2000  1 1061
  
             
7004 Columbus Avenue   $209,900  $6297 4 2 1650
  
             
6732 Sheridan Avenue S  $239,000  $0 4 2 2158
  

 

Twelve Homes Sold In Richfield the week of

February 24, 2014 - March 02, 2014. 

    
        
Address  Price  Seller Paid  Bedroom  Bath  Sq. Ft.   
             
7215 Harriet Avenue   $124,000  $3720 2 1  866  
             
7213 Nicollet Avenue   $116,000  $0 4  1 1422  
             
6909 5th Avenue S   $146,000  $0 3  2 1505  
             
6821 12th Avenue S  $140,000  $8070 3  1 1257  
             

6924 12th Avenue S
  $153,615  $0 4 2 1974  
             
709 E 68th Street  $172,400  $5172 3
 2
 1925
  
             
215 W 72nd Street   $168,900  $3378  3 2 1505  
             
7421 Bloomington Avenue
$185,900
$3900
3
3
1410
 
             

6810 Knox Avenue S
  $220,000  $0 3
  2  1864  
             
6526 3rd Avenue S  $233,500  $6000  3 3 2007  
             

7032 2nd Avenue S
 

 $265,900

 

 $6000

 

3

 

 2

 

1909

 

 
             
6439 Knox Avenue S   $262,500 

 $7873

 

3

 

2

 

1754

 

 
             

 

Four Homes Sold In Richfield for the week

February 17 - 23, 2014

Address  Price  Seller Paid  Bedroom  Bath  Sq. Ft.   
             

6445 Xerxes Avenue S
  $127,500  $0 3  1 1056  
             

6914 Cedar Avenue S
  $124,000  $0 2 1  1638  
             


S 6640 Lyndale Avenue S #405

  $135,000  $7000 2 2 980  
             

6804 Garfield Avenue S
  $235,000  $0 3
 3 1797  

 

Two Homes Sold In Richfieldon

February 10 - 16, 2014

Address  Price  Seller Paid  Bedroom  Bath  Sq. Ft.   
             
 7007 Oliver Avenue S   $125,000  $0  3  2  1838  
             
 

6504 Logan Avenue S
  $283,500  $0  4 3
  2174  

 

Only One Home Sold In Richfield for the week

February 3 - 9, 2014

Address  Price  Seller Paid  Bedroom  Bath  Sq. Ft.   
             
6501 1st Avenue S  $159,000  $0 3  2  1120  
             

 

Six Homes Sold In Richfield the week of

January 27, 2014 - February 2,2014

Address  Price  Seller Paid  Bedroom  Bath Sq. Ft.   
             
7304 Portland Avenue   $124,900  $5874 3 1  1065  
             
 

6938 17th Avenue S

  $147,000  $0 4 2  1642  
             
 7408 Vincent Avenue S   $152,000  $4560 2 1  1311  
             

7600 Sheridan Avenue S
  $189,900 
 $4843  3   1761  
             
7514 Nicollet Avenue   $198500  $0 5  3 2676  
             

6300 15th Avenue S
  $199,000  $6167  3  2 2017  

 

Eight Homes Sold In Richfield the week of

January 20 - 26, 2014

Address  Price  Seller Paid Bedroom Bath  Sq. Ft.   
             
6239 Dupont Avenue S   $69,100  $2073 2 1 816  
             

6908 Oliver Avenue S
  $125,000  $0  3 1  1201  
             

7338 Oakland Avenue
  $150,000  $0 4  2 2144  
             

 

7508 Columbus Avenue


  $160,000  $0 4  2 1890  
             
7212 Garfield Avenue S  $173,000  $5190 3 2  1746  
             

6616 15th Avenue S
  $170,300  $0  3  2 1436  
             

7301 Logan Avenue S
  $177,000  $0 3 2 1639  

 


7229 Garfield Avenue S

 

  $194,500  $7331  4  3  2033  

 

Four Homes Sold In Richfield for the week

January 13 - 19, 2014

Address  Price  Seller Paid  Bedroom  Bath  Sq. Ft.   
             
7428 Dupont Avenue S   $125,000  $8891 3  1 1254  
             
7044 3rd Avenue S   $169,900  $6222 3  2  1945  
             

2617 W 70th Street

  $199,500  $7000 3  1  1700  
             
7215 Logan Avenue S   $171,000  $0 2 1 887  

 

Eight Homes Sold In Richfield

January 06- January 12, 2014

Address  Price  Seller Paid Bedroom Bath  Sq. Ft.   
             
6500 Woodlake Drive #204  $62,000  $0 1 1 976  
             
7600 Lyndale Avenue S #410  $100,000  $3000 1 1  767  
             
 6226 15th Avenue S  $105,510  $0 3  1  1008  
             
1515 E 62nd Street  $157,000  $4710 3 1 1230  
             
6244 Humboldt Avenue S  $151,500  $0  3 1  1918  
             
 7308 3rd Avenue S  $169,900  $0  3  2  1978  
             
7601 Aldrich Avenue S #309  $189,00  $0 2  2 1333  
             
 6633 Washburn Avenue S  $272,500  $0 4  3 2004  

 

Twelve Homes Sold In Richfield the week of

December 30, 2013 - January 05, 2014. 

    
        
Address  Price  Seller Paid  Bedroom  Bath  Sq. Ft.   
             
6615 Lake Shore Drive #500  $57,950  $0 2 1  966  
             
6336 Logan Avenue S  $95,000  $0 2  1  768  
             
6515 Emerson Avenue S #8  $96,000  $0 2  1 1062  
             
7344 10th Avenue S  $109,000  $3270  2  1 814  
             
7033 Nicollet Avenue  $123,000  $0  3 2  1733  
             
6726 4th Avenue S  $168,000  $0 3  2 2225  
             
 7405 Bloomington Avenue  $169,900  $5097  3  1 1429  
             
7308 12th Avenue S
$165,200
$5000
4
2
1630
 
             
6939 11th Avenue S  $180,000  $5400 4
  2  1822  
             
 6734 Oakland Avenue S  $219,000  $0  3 2 2097  
             
6901 Harriet Avenue S 

 $232,700

 

 $900

 

4

 

 2

 

1902

 

 
             
6411 Humboldt Avenue S  $255,00 

 $0

 

5

 

 3

 

 2316

 

 
             

 


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Tips for Investing in Rental Properties in the area
by Investing Expert Steve Schneeberger


Investing in rental properties can be a lucrative opportunity in . In this article, we'll go over several tips to ensure you choose the properties that'll result in the best returns on your investment. After reading this article, you'll know some of the more common pitfalls to avoid with properties in , as well as the signs to look for in a great investment property.

Tip #1 - Look at Surrounding Properties

If you're buying your property to rent out, one of the most important steps you could take is to look at the rent market in the surrounding area.

What are units like yours renting for right now? Take 3-5 units that are similar to the unit you're considering your investment and average them out.

Would the income from this property be enough to cover your expenses?

Tip #2 - Be Conservative

Be very conservative when you're calculating your numbers. It's far better to overestimate your numbers and accidentally make more money than it is to underestimate your numbers and find yourself draining cash.

Remember to account for vacancies and maintenance costs. These costs don't accrue all at once, but when they do come they can be large expenses.

Tip #3 - Check Your Rental History

How has your unit(s) been renting out over the past years? How strong is the rental history?

If in the past the unit(s) has been consistently rented out with few vacancies, that's a good sign that the unit(s) aren't difficult to rent out. If the opposite is true, that should be a red flag to take into consideration.


Tip #4 - Take the Low Hanging Fruit

Properties in often have what I call "low hanging fruit" opportunities. These are improvements you can make to your unit that will immediately improve its sale value or rental value.

Some of the more obvious ones include steam cleaning the carpets, painting the walls, making necessary repairs, having tiles cleaned and so on.

The key is to tackle the repairs that will give you the highest return for the least amount of work. The idea is not to repair every little thing, especially if it won't give you a positive ROI.


There is a lot of free and useful information available to you about buying or investing in Richfield real estate. For complete information about the Richfield real estate market including current properties for sale, property values and more please visit the most complete website online dedicated to everything Richfield real estate at www.steveschneeberger.com. Please feel free to contact me with any of your real estate or mortgage related questions and I will be more than glad to answer your questions. Call me on my cell at 612-581-7313 or email me at steveschneeberger@kw.com

 


 
Investing in Richfield can be a very profitable business for the wise investor. Unfortunately, you can also lose a lot of money in Richfield real estate if you don't know what you're doing. In this article, I'll go over several tips to help you ensure a profitable investing career in the Richfield real estate market.
Pick a Specialty

When you're going in to real estate investing, you'll likely find that there's an overwhelming amount of available information on all kinds of investing tactics.
Rather than specializing in being "a real estate investor," pick something more specific. Perhaps you'll specialize in small apartments. Perhaps you'll specialize in buying foreclosures. Perhaps you'll specialize in fixing houses.
Whatever the case may be, pick a specialty and learn everything you can about that tactic. You're much more likely to success that way.

Know Your Taxes

Taxes are often a big "gotcha" for investors. To start, it's important to learn as much about Richfield tax laws as you can. Have an accountant you can rely on and educate yourself in the various ways you can work with the tax laws to reduce your taxes.
Understand how taxes will impact your bottom line. Realize also that taxes change over the years. When you choose a property, it's important to choose a property that will be profitable even if the tax codes change.

Be Meticulous With Your Inspections

You should always meticulously inspect your properties before making a purchase. You shouldn't ever purchase a building before you've done a proper inspection.
Many investors simply inspect the property by hand. However, it's usually a good investment to have your property looked at by a professional before making your purchase.

Know Your Rent, Utilities and Maintenance Costs

Cashflow is something that you must be very careful with. If you're working with a thin margin, things like vacancies and unexpected maintenance can easily put you in the red zone.

It's important when you're calculating your investment to factor in vacancies and maintenance costs. A good way to determine this is by looking at the building's past history. If there isn't a good record or if there isn't a reliable history to go back on, another way to help determine these costs is by looking at the costs of similar units in your area.

There is a lot of free and useful information available to you about buying or investing in Richfield real estate. For complete information about the Richfield real estate market including current properties for sale, property values and more please visit the most complete website online dedicated to everything Richfield real estate at www.steveschneeberger.com. Please feel free to contact me with any of your real estate or mortgage related questions and I will be more than glad to answer your questions. Call me on my cell at 612-581-7313 or email me at steveschneeberger@kw.com

 

Before And After Your Home Inspection: What to Remember When Inspecting Your Home.

When you agree to purchase a home you have the right to an inspection of the property as a condition of buying. If you find issues with the home during this process you can usually withdraw or terminate your offer and have your earnest money returned as long as you have followed the proper steps. But more and more buyers in hot real estate markets like are foregoing the inspection as a way to make their offer more appealing to sellers. Although this may help you win the property, you may lose in the end. 

An inspection occurs after going under contract and you have hired a certified inspector to survey the overall condition of the home. These inspections can take as long as three to five hours depending on the size and condition of the home. And they can easily run into several hundreds of dollars. But are they necessary? You have to decide if it is worth the risk. 

If there are multiple offers on a home and you are the only contract that does not have an inspection contingency then you certainly make yourself more appealing to buyers. Even if your offer is accepted you can still have an inspection, but you won't be able to back out of the contract for any negative results that are found. At that point, the inspection will be for your information only. You would be left trying to find another way out of the deal. 

If you find problems during the inspection you can decide whether they are a deal killer for you. It is not mandatory that you ask the seller to repair anything. In fact, asking for the moon may be a deal killer for them. You have to decide what repairs you are willing to take on. 

You are not required to even have an inspection if you choose not to. Just remember that one problem can potentially run into thousands of dollars. You could simply buy the home as-is and take the chance that it is in good condition. But this is not advisable, either. Buying blindly is just not worth the risk.   

For more information on getting a thorough home inspection in Richfield MN , contact real estate professional Steve Schneeberger with Keller Williams Realty Integrity Lakes at 612-581-7313.

Real Estate Marketing Guru Steve Schneeberger Gives You 7 Great Tips on How to Get Every Dollar You Deserve... by Getting the Full Value of Your House!

 

The ability to reap additional profits on the sale of your home in can be accomplished easily enough if you make the right improvements. Many changes can provide the prospective buyer with enhanced feelings about your home, feelings of more space, more light, more rooms, more closet space, greater privacy, warmth and security. 

Basic, simple and inexpensive improvements on your home in can provide an improved emotional response in a potential buyer.
An example could be something as small as a crack in the paint on a wall. Simply by applying some plaster and touch up paint, you eliminated what may be an unstated concern that your home was poorly maintained. 

Though the feeling may be unconscious, it’s just as important that the potential buyer feel an overall desire for your home. 
If you are working with a small budget these simple techniques will work absolute wonders:
The Magic of Mirrors!-Mirrors can provide a greater sense of space and elegance when properly placed. Be careful not to overdo it, but when placed properly throughout your home, each area will seem larger to the potential home buyer. 
Try looking in your attic or basement for any old mirrors, but be sure they have a nice frame or at least give the frame a new coat of paint. You may also want to visit a local flea market or garage sale; you can almost always get a great deal on an old mirror or two. 
Putting one foot square mirrors on a closet door in the master bedroom is always an attractive touch.
Adding Additional Closet Space-One of the biggest complaints heard from potential buyers is that there just isn’t enough closet space! Simply purchasing an inexpensive closet organizer and installing it in any or all of your closets can make all the difference. 
You can also try putting a rod across one corner of a bedroom for hanging clothes. Also you could try hanging a screen made from a variety of materials. The screen could match the material of the bedspread, drapes etc. The idea here is to be creative so that the "fake closet" looks as though it was a part of the room.
Make a Bare Wall Beautiful-Wallpaper is inexpensive, quick and easy to do! The right wallpaper can brighten the room or hallway and bring it back to life. Be careful to choose something with a neutral design or pattern. Remember, you’re trying to move out.
Bring Old Floors Back to Life!-Nothing turns off a potential buyer quicker than dull, dingy, disgusting looking floors. Whether you have wax, wooden or tiled floors, do whatever you can to make them shine again! For wax floors, either rent a floor machine and do it yourself, or if it’s in your budget, hire a professional. 
Have a professional give you an estimate and explain exactly what they would do to bring your floors back to life. If you have them explain what they would do, it may be just as easy to do it yourself. 
If you have carpeted floors, you should either have the carpet steam cleaned or install new carpeting. This may sound expensive but new carpeting can add thousands of dollars to the value of your home.

Add Attractive Plants-Having plants in the house is not only healthy for you but you create a warm feeling with them. Many indoor plants are far less expensive than you might imagine. 
Attractive pots such as ceramic, brass or even designer plastic will add a designer flair to your home. Hanging plants such as Boston ferns are inexpensive, easy to care for and would go great in your new home whenever you move.
Adding a Room Without Calling in the Contractor!-This simple but seldom used technique, can give a buyer the feeling there are more actual rooms in your house. Floor to ceiling room dividers are inexpensive and simple to install. 

When a buyer walks through your home, they will generally count the rooms in a subconscious manner. Each room will present an emotional response as they walk through your home. 
By dividing and designing each side of your room, you create a "separate room" feeling in the potential buyer. It may sound crazy, but it works!
Clean Up the Bathroom-We’ve probably all heard that phrase a hundred times growing up! Well, guess what? It’s still valid. Give your bathroom a face-lift if needed; fresh paint, decorative moldings, tile grout, new designer faucets are all attractive eye catchers.
What is That Smell?-Though people don’t like to admit it, everyone's home has a certain smell to it. We just never notice it because we live with it day in, day out. Strategically placing fresh scent devices throughout the home will be pleasant to the nose of any potential buyer. 
As a matter of fact, an old Realtor trick is to pop some cinnamon rolls in an oven 5 minutes before a showing. I bet you thought all Realtors just had a sweet-tooth!

There is a lot of free information available to you about buying, selling or investing in real estate. For complete information about the real estate market including current homes for sale, property values and more please visit the most complete website online dedicated to everything real estate. So please feel free to contact me with any of your real estate questions and I will me more than glad to answer your questions. Call me on my cell at 612-581-7313 or email me at 
schneeberger@kw.com.


Are you getting a Good Deal on Your Next Home Purchase ?

 

When buying a home in you probably have a couple of things on your mind. More than likely at the top of the list is whether or not you are getting a good deal. After all, there is no point in buying a home if it does not suit your needs and budget. But unfortunately, knowing if you are getting a good deal on a home is not always the easiest thing to determine. Fortunately, there are a few things that you can take into consideration when buying a house. 

1. The first way to determine if you are getting a good deal on a home is to use your common sense. Basically speaking, you will know if you are getting a good deal or if things are a bit out of line. After all, would you pay $1 million for a run down home in a bad neighborhood? This example may be taking things to the extreme, but all in all you should simply use your common sense when buying a home. This will always guide you in the right direction. 

2. Come see me at Keller Williams Realty Integrity Lakes and let me help you compare the cost of the home you are interested in buying to other recent sales in . This will allow you to see just how good of a deal you are getting. This will  help you find out whether you are paying too much money for a home, or if you are getting the deal of all deals. You can also find out how other houses are selling in by visiting my website or by calling me at 612-581-7313 . The seller may even give you these details if they feel that they are offering a great deal. 

3. As a real estate agent I will help guide you in finding and buy a new home. This way you will have a professional on your side that can help you every step of the way. Although this may not seem like a big deal, doing this will go a long way in ensuring that you do not get taken advantage of. 

          

All in all, these three tips should help you to determine if you are getting a good deal on a home. Everybody wants to save money, and you should not be any different!

 

There is a lot of free information available to you about buying, selling or investing in real estate. For complete information about the real estate market including current homes for sale, property values and more please visit the most complete website online dedicated to everything real estate at www.steveschneeberger.com . So please feel free to contact me with any of your real estate or mortgage related questions and I will be more than glad to answer your questions. Call me on my cell at 612-581-7313 or email me atschneeberger@kw.com.