All Forum Posts by: Nathan Platter

It's probably just psychology @Jay Helms, but knowing friends/family in a different context other than investing/business is difficult for me because of that relationship where money and investing isn't talked about as much.

Hi @Sheryl Morgan ,

Could you clarify how you want to contribute so mentors can better take you under their wing? What assets can you bring to the table? Investment funds, Time, Connections, Skills (e.g. Graphic design, sales, over the phone),...

Mentors are willing to help when you bring far more value than the cost of bringing you onboard. Investors are always looking for:

1. Doing more deals at once (quantity/capacity)
2. Getting more profit per deal (margin)
3. Doing deals faster (time)

@Millie H. does wholesaling and remote rehabbing in the area, she'd be a great person help out.

My favorite lawyer, @Tim Joyce , may be able to chime in. 

I'd imagine there are some state-specific elements.

Hi @Kevin Mathew Galang ,

One way to save time acquiring your deal would be to buy them from a wholesaler that finds genuine deals.

Talk to @Jason Bobbitt , his firm sells pre-rehab properties and I'll be going to him once I go out of state (Minnesota) next year.

I've tried looking for those myself, and the "safe" margin is 33% of ARV (in this case, acquire for roughly $500k)

If the builder is aggressive, they could go for perhaps 40% but any higher and they risk losing money.

If you have addresses, enter them into the County Map here and you can find the Last Sold price.

https://gis.hennepin.us/Property/map/

@Tim Swierczek done

@Chase Binnie knows the St. Cloud area pretty well, he may have a few places in mind.

I knew of a 12 unit for $640,000 up there but it closed a two weeks ago.

Stay persistent!

I'm posting this on behalf of the seller. Will gather more information upon request.

Oversized 4 plex with a non-conforming 5th unit in the basement that has a bathroom, kitchen, and living area (would need to be rezoned into a 5 unit).

Units 1 & 2 (Upper units) are both two levels. Each unit has a loft, spiral staircase, and vaulted ceilings with skylights. 

Unit 1 (upper) is rehabbed and occupied

Unit 2 (upper) is occupied

Unit 3 (lower) is occupied

Unit 4 (lower) is rehabbed and vacant

All four units have built-in buffets. The property has newer siding in good condition. 

4 separate boilers and 4 separate gas and electric meters. Mechanicals were updated within the past 5-8 years and the roof was replaced about 5 years ago. 

The property also includes 8 off-street parking spaces.

@Jason Bobbitt may be able to point you in the right direction. He sells pre-rehab properties and likely has the contacts you're looking for.