All Forum Posts by: Pavel Sakurets
Pavel Sakurets has started 48 posts and replied 316 times.
Post: Need recommendation for Self Directed IRA custodian with low fees
- Investor
- Minneapolis, MN
- Posts 332
- Votes 74
We pay monthly to our investors so each investor will have 12 deposits on his/her account per year. Thank you for your recommendations.
Post: Need recommendation for Self Directed IRA custodian with low fees
- Investor
- Minneapolis, MN
- Posts 332
- Votes 74
Hi all. I have several people that want to invest into my fund using Roth IRA. Can somebody give a recommendation what SDIRA custodian to use?
I have used Equity Trust since 2010, but their fees are getting high on amounts over 100K and I dont like it. Perhaps there is a less expensive custodian that you can recommend. Thank you!
Post: Angry landlords sent this to MN governor about eviction moratoriu
- Investor
- Minneapolis, MN
- Posts 332
- Votes 74
James, I would love to join you in the landlords' property tax strike. I wish more people like you could speak up!
@Pavel Sakurets I think you said EXACTLY what we are all feeling, thinking and experiencing, minus many 4 letter words!
As a side note for any who would argue this, in MN the statistical majority were earning at a rate pre-covid that the net result of getting laid off/ fired; unemployment insurance and the bonus resulted in an averaged 134% income rate. The moratorium has only protected those doing the wrong things for the wrong reasons. A LEGITIMATE order would have had the simple addition of a person having to provide financial evidence of their inability to pay, of decline in income benefits, and then the amount of rent placed into forbearance status would be of % equaling decline in income due to covid impact. All VERY easy to document via UI documentation. But no, just blanket ruling that landlords need to operate on hope, faith and luck.
I have been just waiting for any kind of rent strike to happen so I can shout my protest charge of "PROPERTY TAX STRIKE". The class discrimination is getting intolerable.
Post: Angry landlords sent this to MN governor about eviction moratoriu
- Investor
- Minneapolis, MN
- Posts 332
- Votes 74
I sent this letter to Tim Waltz (MN Governor) and to Star Tribune on Monday, because I'm fed up with what these bureaucrats do, but NOBODY has responded yet. I would like to know what do you think about the message that I sent to the governor.
Post: Angry landlords sent this to MN governor about eviction moratoriu
- Investor
- Minneapolis, MN
- Posts 332
- Votes 74
POSTED ON JULY 15, 2020 BY REALESTATEADMIN
7/13/20 you extended eviction moratorium. Are you out of your mind?
Perhaps you are thinking that this extension would help tenants that lost their jobs to stay longer in the properties?
According to this https://mn.gov/deed/data/current-econ-highlights/state-national-employment.jsp MN May’s unemployment rate was only 9.9% and you are protecting entire 100% of the tenants?
Are you out of your mind?
In case you didn’t know this but roughly 80% of properties that are being rented have mortgages against them and landlords need to make mortgage payments, insurance payments, property tax payments, pay for water and some electric and gas bills. Where do you think these landlords will get the money to make these payments since March? On several properties I have not received rent myself since March and it will extend through August. I’m not receiving rent for 6 months while tenants that have the money take advantage of it because we can’t file for eviction for non payment of rent. I do understand that restaurants got hurt because they were closed and they are not able to make rent payments. But I have tenants who receive pension and Social Security benefits and their financial situation hasn’t changed at all and they take advantage of your moratorium, because they would rather not pay rent of $12,000 for 6 months, get evicted and find another place to rent.
If you wanted to protect tenants, why not pay the landlords from the State funds and create payment arrangements with the tenants? NO- you don’t want to do this! You want landlords pay for everything!
This is what would happen because of your SHORT thinking:
- Landlords will not be able to make mortgage payments and property tax payments.
- Properties will get foreclosed on and tenants would get evicted.
- Landlords would loose equity in their rental units and will not able to invest in real estate for a long time and will not create jobs for people that rehab real estate to make it rent ready.
So who are you really helping by extending the eviction moratorium?
Post: I want to buy as many 2nd NPNs as possible
- Investor
- Minneapolis, MN
- Posts 332
- Votes 74
Originally posted by @Don Konipol:
Do you buy residential, commercial, or both?
We buy only residential NPNs
Post: Do you know a reliable company that can finance 1st NPNs?
- Investor
- Minneapolis, MN
- Posts 332
- Votes 74
You win some and loose some. This is a part of the game. Yeah, borrower filing BK happens, but best on my experience in buying notes less than 5% file for BK
@Pavel Sakurets I don't know anybody who really does it. I know FCI or somebody affiliated with FCI was doing it several years ago but I don't think they do it anymore. From what I recall, the loans were offered at 12% similar to real estate hard money.
In my opinion, to make this kind of leverage work, you need something in the 4-5% range. Timelines to liquidation change too much unlike REOs or fix and flips.
We have one NPN in which the borrower filed Ch 13 BK and has been sub performing ever since. The trustee has been especially lenient and the debtor has been able to modify her plan three times. The last modification pushed out the payment plan for two more years. It's been three years and we haven't received a single payment on the arrears. If we had a hard money loan, we would have been killed on this one.
Post: Do you know a reliable company that can finance 1st NPNs?
- Investor
- Minneapolis, MN
- Posts 332
- Votes 74
Please share the name of the company that can finance non performing 1st liens. I know that Sharesates financed 1st liens, but they temp. don't
Post: I want to buy as many 2nd NPNs as possible
- Investor
- Minneapolis, MN
- Posts 332
- Votes 74
Hi, I need to purchase as many non performing seconds as possible, we buy in 46 states. If you have a title report we will make a buying decision within 4 hours and fund within 5 days after we complete DD.
If you don't have a title report, we will obtain the title within 3 days and fund within 5 days.
Pay from 25-50% of UPB depending on equity.
Post: Need non performing seconds in TX, GA, VA, NH, RI, MA, MS, FL, NC
- Investor
- Minneapolis, MN
- Posts 332
- Votes 74
Hi, I'm looking to purchase non performing seconds in the following states:
DC, GA, FL, LA, MA, MS, NC, NE, NH, RI, SC, VA, TX, WV
If you have a title report that is a one week old or less, I will make an offer within 24 hours, complete dd within a week and fund next day.
Please don't send me junk that nobody else wants to buy. I pay 30% of UPB on non performing seconds, can pay more if there is enough equity.
Call or text with questions 651 235 8972
Pavel Sakurets
Real Estate Liquidators
1920 Central Ave NE STE 201
Minneapolis MN 55418