All Forum Posts by: Daniel Kurkowski

Good work man, now it is time to buy some commercial real estate to start throwing some gas on the fire.   Hahaha.

Hi Lynn, welcome to the market.  @Andrei Bortnov is an amazing agent who only works with investors (no first time homebuyers etc) in the Twin Cities and has access to a lot of off market deals.  I would connect with him and see if he can help.

Honestly, you can spend a lot of time trying to find the right deal to make work with a little bit of money or you can spend that time on finding a way to have access to cash and go from there.  I would work on solving the underlying problems in this equation, because compounding $5k doesn't get you very far.  

Find a real estate investor or broker and offer to work for them in your off time.  If they don't want to hire you, offer to work for free and bust your *** for a month then revisit the compensation.  Find out if they will give you a small equity piece in deals you bring to them or pay you some amount of cash.  This is something you should be able to do after your regular job.

I started 3 years ago with $10k and through hard work and a lot of good mentors am now flipping commercial buildings as my main source of income and own a commercial real estate brokerage.  You can do it, just make sure you tackle the right problem.

 Yep.  I' m a tough client, but before you sign anything I would ask him to analyze the deal to see if he comes up with something that looks like he knows what he is doing.  You'd be amazed at how many professionals who specialize in the niche still have a pretty rudimentary understanding of the product.

Unless you're comfortable in your ability to navigate a transaction I would get another agent.  I own a brokeage and still hire other agents when my knowledge base isn't there or if I don't have time to run the deal myself.  

A commercial agent may not be as helpful as you think however as this is really two residential transactions.  For this in particular I would find someone who specializes in multi-family in your area.

 Hannah I am reading this differently than you are and do NOT think a title company will cut it for you.  They will run the transaction to the finish line once all of the conveyance documents are in place, but MN has statutory requirements for the sale of any CIC building that you need to adhere to on top of making sure you have a compliant and beneficial instrument of conveyance (purchase agreement).  An attorney can help you with the paperwork and will probably be less expensive than an agent for those particular discreet tasks.

A title company won't come into play until you have all of the documents you need in place already.  In other words they will make sure the right boxes are checked, but they won't help or advise you in creating any of those docs.  

@David Barnett what's up buddy? ;)

VSM Real Estate for sure.

In general whenever you are looking at comps, I would recommend comparing general desirability.  That is what makes someone pull the trigger at the end of the day.  Pull up what you see in the area and decide how your building stacks up against what you see out there in the market.  If something looks better than you, price yourself lower.  Then find something you think your property is more desirable than and price yourself somewhere between.

It takes a little practice, but at the end of the day you will figure it out pretty quickly.  Hope that helped.

I think there's just under three deals per agent in our market right now based on inventory and number if agents, but if you're of basic intelligence and willing to put everything you have into it, you will be successful.

If you'd like to talk more private message me.

I can't believe this turned into a thread where you feel compelled to justify keeping part of the building intact that is dangerous to the point of making the structure uninsurable.  

Don't be a scumbag and upgrade the panels to an appropriate size for the building, or they'll be using this thread as exhibit A in court.

Unreal.