All Forum Posts by: Pavel Sakurets

Ariana, my recommendation, if you want to be a serious investor in RE, is to get a real estate license. It will take 2.5 weeks to complete classes and pass the test. You will be not depended on ANYBODY. (searching, looking, analyzing and writing offers)

I spent 12 years in business school and grad school and the best education that I've received was through RE licensing

 We also always use porcelain, and use ceramic white subway tile for backsplashes.

If you drop something metal, like a hammer on the floor, the tile will chip off or brake. I've been using tile instead of vinyl 10 years ago hoping to avoid replacing the tile vs vinyl. However after i saw what happens with the tile when tenants don't care, we switched to hardwood.

We don't even install carpet in our rentals, because even with non section 8 tenants carpet needs to be replaced every 3 years. When we buy a building, we pull the carpet everywhere if it needs to be replaced and install oak hardwood

 In my opinion it's a combination of things:

1. Our letters that we sent out looked like checks with our name in the envelop window as a sender and with prospect's name at the bottom window. Thus probably had a high opening rate.

2. Many people know our construction Co and that we build houses.

3. We indicated which house we have purchased and the address of the house.

4. We indicated that there would not be any real estate fees or commissions paid out so everybody could save money and that we would pay sellers closing costs so they would know how much they would get at closing.

All these factors helped to build trust.

I will do it again in Mpls within next week, because we are doing 1m flip in Kenwood neighborhood in Mpls. Will share results of that campaign soon.

Alexander, I would recommend to talk to somebody that can figure out weather it's a deal or not first.

If it is a deal and you have it under contract you can: shot a video of the house, post it on YouTube and add a link of the video on Craigslist as " handyman special" etc

Put an ad in the local paper for $200

List it in the market place on BP

Advertise it at your local REIA

Title Co is a business that completes real estate transaction and records documents at the County. You can ask for a recomendation on BP

Assignment contract is used when you have an executed contract between you (buyer) and seller and you sell you rights of the contract to the end buyer. Title Co typically will have an assignment contract or a real estate attorney can draft one for $200-$300 

Best of luck to you!

As somebody mentioned to do a wholesale deal is a job, it is as difficult to find a great deal as well as to sell it to an investor.

Alexander, I would recommend to talk to somebody that can figure out weather it's a deal or not first.

If it is a deal and you have it under contract you can: shot a video of the house, post it on YouTube and add a link of the video on Craigslist as " handyman special" etc

Put an ad in the local paper for $200

List it in the market place on BP

Advertise it at your local REIA

Title Co is a business that completes real estate transaction and records documents at the County. You can ask for a recomendation on BP

congrats!

Two suggestions: when u get a property fully occupied, you can refi a commercial loan at 4.5-4.75% at 75-80% LTV ( I don't know any local banks where u live, but in Mpls we get this rate).

2nd suggestion, do no grout joints with tile and use non sanded grout, because grout will get dirty with tenants or dogs and cats will be scraping it out, or install hardwood in the kitchen instead of the tile for rentals. It costs less and hardwood will last longer than tile, because for some reason tenants always brake the tile or throw something on it; I had over several hundreds tenants and have seen a lot of damaged tile after it was recently installed.

In my residential portfolio quads bring the highest ROI, hard to find though.

Congrats again!

Wanted to share with everyone the results of my mailing campaign that I had in Edina MN

We sent 3000 letters to sf property owners stating the following:

Hello, we are a local builder that just bought a property at 5841 Abbott Ave S, Edina and just wondering if you want to sell yours. 

We buy properties, tear them down and build new ones or remodel them and sell. Thus, if you want to save money on real estate commissions and closing cost, we will make it very easy and convinient for you. "

We had over 100 people who called us within several weeks. 10 were very good leads. One pa signed and maybe anothe pa will be signed within a month.

Normally the response rate for mailings is 1%  here we have over 3% and one executed PA

Happy investing every one!

several years ago we placed bids on all houses listed by Auctions.com in Hennepin County MN that met our criteria for a few months. It was a total waste of time. We won zero.

People who bought properties from Auction.com overpaid for them and I had several wholesalers trying to sell junk houses to us after they overpaid for them.

Not sure how it works now, but we bid on only properties without looking at them, all bids were made subject to inspection. In my opinio, you waste a lot of time if you go and look at every property that you want to buy. I stopped doing that in 2008. We only go and look at the property after our offer is accepted and we pay $200 to a house inspector to inspect the property. Then we look at it, make a work order and close.

However, I went and looked at one house as a tear down for 470k in Edina 2 weeks ago to meet sellers, signed the PA and then cancelled it after the inspection. 

In my opinion people that buy properties at Auction.com are overpaying. It's even worse than buying properties from MLS, because only agents have access to Mls, on Auction.com every one has the access.

One guru claims that he buys a lot of commercial properties from Auction.com. I only saw one good commercial deal within 4 years and bank didn't accept the bid, reserve was not met.

Hello BPs. Does anyone know of a service who can provide information of people who inherited real estate or those that are going through a probate?

(I know I can somebody to the court house, but am sure that there are more productive ways doing that)

I posted an article on my blog, to help other real estate investors not end up being in jail

http://www.realestateliquidators.com/Blog?category...