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All Forum Posts by: Andy Schornack

Andy Schornack has started 1 posts and replied 55 times.

No mention of location and type of tenant.  Outside of lease terms and staggering the maturities ( mitigates risk of multiple vacancies), location and credit of tenant is very important in commercial.  More so than residential. You may want to negotiate contract length to exceed lease maturities to allow some more flexibility if tenants leave. Best of luck! 

Post: como area of minneapolis college rental

Andy SchornackPosted
  • Banker
  • Wayzata, MN
  • Posts 59
  • Votes 17

if you want to message me, I know some active guys in that area to point you to. 

Post: Just getting started... Big Bank vs Credit Union Bus. Account?

Andy SchornackPosted
  • Banker
  • Wayzata, MN
  • Posts 59
  • Votes 17

Hi Kang, if you want I'd drop me a private note I can answer my viewpoint.  

Post: New member from Minnesota

Andy SchornackPosted
  • Banker
  • Wayzata, MN
  • Posts 59
  • Votes 17

Bigger pockets is certainly a good resource to get started with. between podcasts and forums, plenty of information to digest but remember the best way to learn is to  conservatively buy the first property. 

Post: New Twin Cities Investor

Andy SchornackPosted
  • Banker
  • Wayzata, MN
  • Posts 59
  • Votes 17

Welcome to the board!

Post: Looking for CPA/Investor

Andy SchornackPosted
  • Banker
  • Wayzata, MN
  • Posts 59
  • Votes 17

Try John Caylor in Plymouth. He is a good guy and meets all your requirements.  Send me a note if you want his contact information. 

Post: Industrious Seeking Multi-Family Experience in Minneapolis

Andy SchornackPosted
  • Banker
  • Wayzata, MN
  • Posts 59
  • Votes 17

Good place to be and congratulations on the investing success!

Post: Map Resources

Andy SchornackPosted
  • Banker
  • Wayzata, MN
  • Posts 59
  • Votes 17

the County GIS maps are pretty good if you want to look at aerial photos separated by the PIDS. Dakota County for instance will allow you to see recent sales and also search recent foreclosure properties in the area

Post: Portfolio lenders in Twin Cities?

Andy SchornackPosted
  • Banker
  • Wayzata, MN
  • Posts 59
  • Votes 17

I may know of a bank. Here is a post we did on this specific issue: 

Reached your secondary market limit of ten 1-4 Family Rental Properties?

I may know one. Please send me a private message to discuss. 

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