The Best Ever CRE Show JF3798: Minneapolis Multifamily Operations, Tax Incentive Programs, & Expense Management Strategy ft. Dan Krueger
Jan 27, 2025
Dan Krueger, a multifamily real estate investor from Invictus Capital, shares his transition from corporate finance to real estate in Minneapolis. He discusses how to enhance debt terms by building relationships with local banks and utilizing seller financing. Dan emphasizes innovative strategies for expense reduction and the importance of leveraging tax incentives, all while navigating market challenges. His insights into maintaining affordable housing amid rising operational costs provide practical advice for aspiring investors.
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Career Shift
- Dan Krueger's background is in corporate finance, where he worked for five years.
- He transitioned to real estate after developing a side hustle and realizing his entrepreneurial drive.
Portfolio Composition
- Invictus Capital's portfolio averages $150,000 per door in Minneapolis, focusing on C+ or B- class assets.
- These are mainly older, urban apartment buildings, like historic brownstones or mid-century builds.
Improving Debt Terms
- To improve debt terms, identify regional banks actively lending and consider splitting loans among multiple banks.
- Incorporate seller carrybacks to lower the weighted average cost of debt.