All Forum Posts by: Tim Swierczek

@Reid Truschinski I have a method of analyzing I call bulk analyzing. I've analyzed both Minneapolis and St Paul markets using that approach. I think the method will help you. Private message me if you want a link to the two podcast episodes. 

@Mason Vitalis , I totally agree. A down payment does not need to be a hindrance to buying your first home. The key is to have a stable and adequate income to support the ongoing costs of home ownership. Even ongoing costs are easier than the media lets on, provided you watch your other spending. It's much harder when people have ongoing monthly subscriptions to every TV service, a monthly expensive coffee habit, a big car payment, and use door dash on a daily basis.

@Michael Nahm this sounds like both an expensive and complicated insurance claim.  I think you need someone on your side. You can hire a public claims adjuster; if you do that, I think you will need to pay the adjuster separately, but you would have all the knowledge needed to make sure you get what you deserve. Public adjusters know the game and are the best protection you can get. There are companies who will represent you on a contingency if cash is tight. They work similarly to personal injury attorneys and are only paid based on a successful settlement.  I don't think you want to manage this alone against pros from the insurance company whose job it is to short you and do it all day, every day for decades.

I asked AI to help with the difference between an independent (misleading term) and public adjuster, and here are the differences:

Independent Adjusters:

• Represent: The insurance company.
• Paid by: The insurance company.
• Objective: To minimize payouts and ensure the claim aligns with policy terms.
• Fee Structure: Typically paid a daily rate or a percentage of the claim settlement, but ultimately paid by the insurance company.
• License: Must be licensed, but may not require additional bonding or testing.
• Example: A staff adjuster or a contractor hired by the insurance company to handle claims.

Public Adjusters:

• Represent: The policyholder (you).
• Paid by: The policyholder (you).
• Objective: To maximize the settlement amount and ensure the policyholder receives fair compensation.
• Fee Structure: Typically charge a percentage of the final settlement amount, which can range from 2% to 25% or more, depending on the claim's size and complexity.
• License: Required to be licensed, bonded, and tested by the state.
• Example: A professional hired by the policyholder to navigate the claims process and negotiate with the insurance company.

@Sahil Tadwalkar I'm glad to hear you are looking to LP & JV before getting into sponsoring a syndication. I've sponsored 6 deals so far. I'm not planning any new ones at the moment but would be happy to meet and discuss future opportunities.

@David Frovarp , Welcome to the Twin Cities investing community.  Meet-ups are a great way to meet other investors, which you're going to want to do if you Syndicate. I attend several local meet-ups if you see me at one, come say hi.

I would see if you can get some advice from Hadley Hornig. He has several STR's in this area. He is not on BP, you can find him on FB in the Twin Cities Investing group or PM me and I'll connect you.

Dustin Nikituk at Due North Properties. He's not on BP. PM me and I can connect you.

Way to level up @Tucker Mortier!

Opps, there's a typo in the title, but I can't edit it. He's made over $240k.  

Have you ever wanted to buy a cabin to AirBnB? Typically, it starts with a great vacation, where you have such a great time that you wonder how much the owner must make each year. I think all real estate investors do this at some point.

Matt Jennissen purchased such a place. Not just any place, but a beautiful place on Gull Lake. He's made a ton of money in this place, but it's been anything but a perfect ride. Learn first-hand the ups and downs of how Matt has made over $240K since July 2022. Learn what he loves about the investment and what he would have done differently.

As always, we encourage you to bring a friend and come to network with other local investors. See you at Jimmy's in Vadnais Heights. Space is limited, so grab your spot today.  No fee is required, but we ask that you consider buying food & drink to support the restaurant.