All Forum Posts by: Account Closed

Females make the decisions in this world. Go with white.

Thanks George Blower - I appreciate it.

Happy Monday! 

I want to roll a portion of my current IRA into a Self-Directed IRA to invest in a local startup in Minneapolis, MN. Does anyone have a recommendation for a reputable custodian with reasonable fees?

Thanks in advance, BP.

Yes. The truth is everyone has something going on in their life, his just happens to be readily visible.

Sounds like you’re going to make a killing here... sorry, couldn’t help myself. In all seriousness, I would run - not walk- away from something this.

DON’T LEAVE US HANGING

What you’re describing is rare, but obtainable if you’re willing to put in the necessary leg work to find off market opportunities. Creativity is key too. For instance: my last deal in St. Louis Park was a single family home + a vacant lot for $240K. Remodeled and sold the home and now I’m building on the lot. Have to think outside the box a bit when the market is challenging like this...

Working on my 1st potential, albeit small, development.  The land is not currently accessible and requires extending a 26' wide curbed street (+ sewer & water).  Can someone with development experience please share a rule of thumb number to be using per linear foot?  Just putting together rough numbers at this point in the game...  thanks BP! 

Our dumpsters at flips always seem to acquire a neighbor’s random sofa or tube TV. Over time I’ve learned to file this under “cost of doing business” and move on. It’s certainly irritating, but one of those things that’s simply not worth dwelling on. A friend of mine uses fake cameras on all his projects. Swears by ‘em.

I’ve been flipping/developing for 6 years in the Minneapolis area. However, I’m currently in the midst of the biggest acquisition slump of my career. I’ve always been diligent with my mailings, but in this (unsustainably?) appreciating market there simply is someone willing to pay you more than I am for your property. I know I need to evolve with the market, but I have a very hard time not sticking to the model that’s worked for me over the years. The way I conduct my business, I could absorb a market pull back. I sleep well at night with this strategy, but I can’t honestly say it’s not frustrating striking out so frequently. As odd as this may seem, I almost found things easier in a softer market a few years back. My local market feels saturated with guys doing the exact same thing as me. I’ll hang up and listen.