All Forum Posts by: Justin Puetz

@Account Closed - That's kind of how I feel about it too. I'm not giving up on it yet but we're better off putting our money elsewhere currently which is really what it comes down to. Why take that big of a risk for less of a payoff? Anyways, thanks for the reply Bill!

Have a great day!

Justin

Hey @Nick Radloff!

I'm a General Contractor here in Rochester and am always looking to connect with other local investors. Being in the area, I am definitely going to enjoy following this and seeing how it turns out for you, so please keep us posted! Additionally, in my world, you are kind of talking about two different things, Developing and Building. Some people do both, but definitely not all. Developing would consist of getting your utilities lined up for the area, plotting off sections (if needed), creating roads and other ways of access, etc. and then selling those lots off to builders. On the flip side is building the actual structure. Being that it's storage units, maybe the building part is slightly more straightforward and less costly compared to residential developments, but in my work of primarily residential construction, those two areas are generally split up between a developer and a builder. If you are planning to do both, something to consider is seller financing. With that, coming prepared is really the biggest thing. Nail your numbers down and if the deal is solid enough, finding investors should be easy. And I stress the "should be" part (haha). Anyways, best of luck and I'm looking forward to following this!

Have a great day!

Justin

@Aaron Owen - That's awesome to hear! Did you guys do anything different to increase the efficiency of the build to help make the numbers work? I'm thinking things like maybe having a central furnace that runs off of a zone heat system or building on a slab on grade, etc. I definitely agree with needing to get discounts somewhere too. Obviously, I have the workforce that could help with that but I've also considered partnering up with the owners of our local lumber yard to potentially get material at cost (definitely a far-fetched idea but one that they have been considering). Also, any chance you'd be willing to share the plans they used? I'd love to see the layout that they could make work. And speaking of that, what rent are they able to get? Any information on their numbers would be greatly appreciated! Again, thank you Aaron!

Have a great day!

Justin

Hey everyone!

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I'm curious, has anyone went through the process of pricing out/building a new multifamily build? If so, what conclusions did you come to? Was there a certain unit count you needed to hit to make it profitable? Are you a builder or an investor? I have so many questions so any information would be greatly appreciated!

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I'm a contractor up in Minnesota and have always wondered how I could build my own investment properties. I've got connections in the building community with subs, suppliers, etc., plus I have my own labor force to be able to build the structure, which would obviously help keep the costs of building down. Right now with lumber so high, I doubt the numbers would work out but I'm looking towards the future to see if it's something others have done and is worth pursuing further. I've read up on the subject and have seen plenty of people brush off the idea of building, which I can understand if you are not in the world of building/contracting. However, I'm more looking for builders or contractors who have either tried to figure this out or have actually built the structures and seen the project though, whether you were successful or not. I'd love to learn more about what you learned and any suggestions you may have for it, anything from how you bought materials, to how you saved on your design and layout, etc. I have so many questions and am looking forward to connecting with you!

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Thank you so much for reading! Have a great day!

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Justin

@Daniel Anshus - Absolutely! I'm working to make things happen down here and I figured getting on here is one of the easiest ways to stay connected with people and the industry. And thank you for the input! I've used 99Designs for my business logos but I may reach out to you about your contact to see what they have to offer. Thanks again Dan, keep doing your thing bud!

Justin

@Braden C. - Thank you for this! It’s exactly what I’m worried about. Being from Minnesota, the cold usually keeps those quacks away haha but the last thing I want to do is put my family in that spot. So I’m trying to find the best way about starting to send out some marketing stuff.

Thanks for the advice!

Justin

@Allan Smith - Good point! I'm just getting started with some marketing and love this advice. Thanks for the feedback!

- Justin

Hi, everyone!

I am curious about your views on marketing your investment business and which direction you chose to take it from a public view/branding standpoint. I see many people choose to use a business entity when sending direct mail, using billboards, advertising on social media, etc. when promoting their investing business and looking for distressed property owners. I can definitely see the benefit of this as it keeps you and your family's personal life private, which I can definitely appreciate. The downfall is you may be viewed as another scammy real estate person, regardless of who you actually are by hiding being a business name.

On the flip side, I've seen a few people across the country brand their business on their personal name and in a sense use their personal brand. I think this would come off more personable and trustworthy but you do risk losing the anonymity of a business name and entity. So it begs the question, do the pros outweigh the cons on either side of this? Obviously, there really isn't a right or wrong answer but I would love to hear your viewpoints on this subject!

Have a great day!

Justin Puetz

@William P. - For us, it's almost always picked by our clients. We just help steer them in the right direction in terms of what characteristics each LVP product comes with. Here are a few things that we look for:

-Make sure that it's actually made of vinyl and not a composite.

-Waterproof and not water-resistant.

-Cut method is with a utility knife, not a saw (saves a ton on labor).

-We prefer the pad to be installed on the flooring (again, saves on labor).

-If possible, thicker stuff with a longer warranty seems to work better over the long haul. 

I know it's not as in dept as the chart above but most clients ultimately choose the look of the product more so than the actual specs associated with it. Hope this helps though!

Have a great day!

Justin Puetz

@Jessica Grewe - Thank you for this! For your zoom meetings, when do those take place? I'm all for continuing to learn new things but obviously, the networking side is the big thing missing with video calls. It's definitely a weird time but I still want to get out there and make things happen. So if you guys have anything in-person or more networking-focused events, I'd love to join those too! 

Thanks again and have a great day!

Justin