All Forum Posts by: Brandon Plombon

Our analysis was that after the 10 year NNN lease you'd have to put in a lot of capital and it wasn't worth it for us. Those DG buildings are built cheap and I don't like single tenant risk in a town of 2,000 people.

1 Vote

Your spreadsheet is locked and requires permission to access.

0 Votes

I personally use apartments.com and enjoy it. It's free to get started.

0 Votes

Hi @Andrew Schweim I am located in Southern MN and I would love to connect with you and maybe grab a coffee to discuss further your goals and objectives.

1 Vote

As others have already stated generally speaking anything 1-4 units would be considered residential and will use comps and 5+ will be commercial which will use cap rates. I have seen income approach appraisals on 1-4 units but they would be on rental properties and typically they blend the income approach value with comps and come somewhere in the middle. Depends on your financial institution/appraiser if they are asked to they may consider an income approach.

2 Votes

Denver, Colorado

Quote from @Bruce Woodruff:

Quote from @Brandon Plombon:

Yes, communication is the key, but often it is the customer who does not provide the communication, such as details of products, or what their real expectations are, upcoming plans, etc....

Case in point - I had a client (the wife actually) who had a huge 4th of July party planned, 6 months in advance. There were of course cost and time over-runs due to them changing everything on the whole project. When do you think she told me about the huge party? Right....middle of June. And then it went to court over this.

How could this have been avoided? a) tell the GC well in advance about special events like this. b) Don't change everything in the stinkin' project every day.

Communication is definitely a 2 way street!

0 Votes

Green Bay, Wisconsin

Quote from @Seth Samson:

@Brandon Plombon This. I have a very good GC. What would make him great is by doing what he says he is going to do when he says he is going to do it. He's good because he would do the task and he would do it well for a very reasonable price. Where he fails is timing and scheduling and then communicating it with me. It's okay if things are running behind schedule- just tell me so I can plan around it.

I don't like surprises if you communicate with me and I am well aware that the project is behind schedule or over budget; no problem just be upfront and honest. Let me know so I can make a plan and budget around it. I would much rather be annoyed with constant communication from a contractor than have no communication. Communicate communicate communicate. If you think you are over communicating - communicate more.

1 Vote

Green Bay, Wisconsin

Wow good job @Jordan Wright. That definitely looks like an extensive rehab - what all did you have to do? Were there any surprises once you got started?

0 Votes

Do what you say you are going to do. If you tell someone you'll be there at a certain time show up at that agreed upon time or communicate if you need to reschedule/running late. Under promise and over deliver. Communication is my number one thing.

10 Votes

Green Bay, Wisconsin

@Peter Christensen Sorry to hear about the tenant - care to explain more of the story on how you would have handled it differently looking back on it. It's a beautiful property and I have no doubt you are right about the appreciation over time due to the lake, coming from one who grew up in Minnetonka.

1 Vote

All Forum Posts by: Brandon Plombon

Brandon Plombon has started 7 posts and replied 242 times.

Post: Dollar General?

Post: Critique my analyses of This multi family

Post: Best app for accepting rent payments ?

Post: Best BRRRR Locations

Post: Minimum number of units to determine value using cap rate

Post: How do I be an effective general contractor?

Post: How do I be an effective general contractor?

Post: Just completed another flip!

Post: How do I be an effective general contractor?

Post: Duplex in Orono, MN (near Lake Minnetonka)