All Forum Posts by: Daniel Kurkowski

Hi guys, just a heads up, I ran the numbers on this in spring and couldn't find a way to make it work.  I have partners doing new development, spoke with some of the large developers in town (including modular builds) and the 2-4 unit angle was a hard pass.  I don't want to discourage anyone, but we aren't particularly close to the inventory being at replacement cost in my opinion which is why you continue to see so many apartment investors chasing the B and C class inventory.

I am sure there are deals if you find a distressed lot etc. but the juice wasn't worth the squeeze.  It was a lot less risk to just search for a distressed existing project.

Bad idea.  It doesn't take much to lose control of your property and I would never advocate for actively giving up what limited control we have as landlords.   If they will sign a new lease with your current tenant great, otherwise you are opening yourself up to learning lots of lessons.  :)

I would first identify the viability of finding additional rentals in this market that fit your criteria for investment.  It is competitive out there and harder to find cash flowing properties than it was a few years ago.

If you can, I would look to refi instead of taking a line because I believe there are some implications in the new tax code of HELOCs not being deductible.  I am not a CPA, but that was how I was advised.

If you can't find more homes to buy, sell the whole portfolio, refi your house and buy some commercial properties. ;)

This is probably one of the smaller things they are going through in the middle of a divorce.  I am sure your approach has been very soft and constructive, but I wanted to quickly remind everyone this is probably item number 14 on this person's list.  

You want to be sure you are legally compliant here and are doing everything by the book.  I would only communicate via email.  Tends to protect you and make it easier to get a response (especially with a positive subject line).

Good luck!  Just get a new tenant in there and do your best afterwards!

I am from Minnesota and our company uses rental history reports.  Make the tenant pay, make your criteria very clear and as exclusive as is needed.  $50 for a thorough screening is a small price to pay.

Hi Michael, just apologize and tell him your plans including the problems you see and see what solution he proposes.  If you see a lot of value in his expertise, I would still offer him all of the items you posted above even if it is less than what he asks for.  Good commercial agents who are responsive are hard to find and you want to protect your asset.  :)

Hey Tony, I am in St. Paul and while not an attorney have plenty of experience with CDs and work with plenty of good contractors.  Feel free to PM and we can set up a phone call if you would find it helpful.  I can't provide any legal advice but am happy to share some anecdotal experience.

In my opinion it is a competitive enough business that it isn't really worth pursuing unless you can do it full time. What do you really want to do: What you are doing now or selling CRE?

If you want to be an agent and you find a good mentor, follow their advice and work hard (sounds like you are already doing that) you will be successful.  You don't need extraordinary talent or a super high IQ to pull it off (though I am sure you have both).  There are just a few puzzle pieces that need be assembled.

Analytics are a big part of the game, particularly while working with investors, but at most, that will be half of your job as an agent with the other half being prospecting.  If you are willing to push your comfort zone and check all the boxes above, the upside can be enormous.  

If you do it, go all in.  If you love your job, spend the time you would have as an agent improving yourself there instead and you can roll this world.

Thanks for the responses.  I use both of these platforms, but was hoping to find a way to do this in a large scale and more efficiently and effectively to get directly to owners to be able to provide enough for 5 agents to work on simultaneously.  I haven't heard of anything in the commercial space yet, but am hoping it exists out there.

Hi everyone,

I am looking to build a campaign to have my agents call on the owners of all of the industrial buildings within a certain radius of the properties we already own to start building some rapport and hopefully opening us up to mutually beneficial opportunities in the future.  We have used companies like InfoUSA and other list generation sources in the past, but found that we had a hard time finding the owner directly and ended up speaking to a lot of property managers etc. which wasn't particularly effective.

Does anyone have any ideas of companies or processes we can employ to help us identify properties and then get in touch with the true owners of the building?