All Forum Posts by: Pavel Sakurets

Cody, can you share a yellow letter and post card that works the best. I sent 3-4000 letters and cards within last month through your Co, but had less than 1/3% response rate

 Bill, please think about the time it took you to prepare your marketing campaign and other campaigns that you have done before you got this deal that didn't result in any profit; now add the time it took you to drive by that house, negotiate with the seller, close, find a guy to trash out the place, do some advertising, find the buyer, sell and close. Now take your profit and divide by the number of hours it took you to do all this work. 

If you didn't make $600/hr for all your time that you spent, I don't think it is a deal. Plus the profit is taxed at the ordinary income tax level, say 30-45% plus 8-10% state tax, it makes it even worse.

I think that major mistake that investors make is when they score a home run once in several months, they neglect to calculate the true cost and earnings of their time.

However, making 8k before tax or 4k after tax, is still better than nothing. Congrats!

Thank you Joel. In MN the Govmt only gives you grant money if you redevelop the land (from industrial to residential, plus will need to get multiple approvals from the City, neighbors, etc.) I'm waiting for Phase 1 and then will decide what I need to do, but not counting on Govmt to give me anything :-)

Thank you Derek

According to existing owner the site needs 500k in decontamination. But I would double it just being on the safer side. I'm doing Env Phase 1 and will be doing Phase 2 afyer phase one.

Main concerns that 4 gov agencies: MN pollution control, mn dept of agriculture, the City of Mpls and Hennepin county will send me some work orders for site clean up after I buy the building and it will cost me more $.

I know that I will be requesting a letter of release from liabilities from MN Polution control and no one at 3 other Gov agencies was not able to give me a clear answer what work orders will they require me to do after I purchse the property. Has anyone ever done anything like that?

$1500 was borrowed to pay for the air fair, both ways.

Another fact, that when I was on the air plane to NY, I met a guy who went to the same university as I did in Minsk and after he found out that i only had $50 he said: " man, u would not have enough to pay for the cab from JFK to NY and he gave me $1000 even though we just met and said that he knew I would pay him back"

Ow, I get goose bumps when I remember this all, and he was a best man at my wedding.

I met a girl at the wedding who was a nurse, had a houses and a new car. I was working at 3 Joe (painter during a day, dishwasher in the evening and janitor at Target and night) :) plus I was on student visa and didn't have a green card.

So, we met at the wedding on August 17th 2001, I proposed on September 17th, and we got married on October 27th 2001. Btw, my future wife was married to the doctor and got married with a janinor :)

We have 4 girls now 3, 5, 7, 10.

Yes, it's unfortunate that many people complain about life here, I suggest to everyone to go to Belarus and see how families could live on $150/month. And then come back to US and realize that they live in paradise! 

A book? 98% of people thinking about writting a book, but only less that 0.5% do.

How about a movie? :D

Yes, I thought about a movie 7-8 years ago, but realized it was for my own ego, so I dropped that idea, maybe when I will be 50 years old and will not have anything better to do :D

I didn't mention that when I was coming into the USA I borrowed $1500 from my friend's friend that I never met at 20% interest per month, yes per month and promised to pay it back in 3 months.

And now my friend who asked his filriend to lend me money came into the U.S. 7 months ago and manages my www.LiquorLiquidators.com he is staying with me before he could be on his own. Life is a very interesting journey! 

I give wholesalers 3 opportunities before I bang them from my list. You live and learn who is full of .... and who is real.

You never know from which wholesaler your next deal will come from.

Scott, it's very nice to hear from you. Are you still convinced that ministorages are the best? My friend Alex owns several million sq ft of industrial space in MN and he says industrial is the best, the demand was very high for last 10 years, vacancy rate is 3% and he charges on average 2k for 3000 sq ft unit of industrial space, that's why I decided not to do ministorages; more tenants-more problems to solve. What do you think?

But, I still think that your course is very much worth to look at as a better alternative to apartments.

Before one uses personal credit cards, remember that the monthly pmts on credit cards will be +/- 2% of the balance. Thus if you take 30k on cc, your pmt will be $600 plus interest. Thus if you are getting a regular loan, you will need to generate and show on your tax returns at least $1500/month in income to offset credit card payments (I used 40% DTI, $600/40%=$1500).

As an alternative I would recommend to use BUSINESS credit cards that do not show up on your personal credit report (do not use DISCOVER or Capital One, because even though they are ''called'' business credit cards, monthly payments will show up on your credit report) The interest rate varies from 9% to 17%.

Last time when I got a loan to buy a property under my own name, was 10 years ago. We only get business financing from local community banks. I know that the AMO is only 20 years and rates are 4.59-5% and they reset every 5 years, but it doesn't matter if you do use these loans for flips. Plus these business loans are never reported on your personal credit report and we get them originated and closed in 2 weeks.