Frank Jermusek discovered his interest in law while in college at The University of St. Thomas in St. Paul. While studying Business at St. Thomas, Frank Jermusek was at the same time working for the Minnesota Investment Firm, Baker Investments. While his main work consisted of managing investments of the company, Frank began working on complex commercial transactions.
About Frank Jermusek
The Jermusek Law Firm, LLC
After studying law at William Mitchell, Frank Jermusek was hired immediately to work as an attorney at Leonard, Street and Deinard. In 2006, he founded his own law firm, The Jermusek Law Firm, LLC, which is based out of Minnesota.
The company is focused on providing sophisticated, creative, and practical solutions for clients dealing with real estate, business, and lending matters. Frank Jermusek has mainly focused his legal practice on business, real estate, lending, and golf/hospitality matters.
SVN | Northco
Working closely with his other Business, SVN | Northco, a real estate and investment firm also operating in the Minnesota area and Twin Cities, Frank Jermusek’s law firm will help individuals and companies across the greater Midwest handle legal work and strategies for real estate transactions, business transactions, and litigation for both.
In terms of real estate, Frank Jermusek’s firm will provide a practical solution to legal matters in purchase & sales, development & construction, debt & equity finance, leasing & property management, loan workouts & restructuring, commercial lending, 1031 Exchange, and, another speciality, Golf Course & Hospitality. In business, his firm will handle the legal work for business formation, contracts, mergers & acquisitions, and corporate finance.
In his work as a legal consultant and attorney at law, Frank Jermusek hopes to provide his clients with planning and preparation that will maximize the profit for their business or institution, and deliver the best possible results for that individual company or service.
Connect with Frank Jermusek
You see houses around you selling fast, so you think yours will be a piece of cake to sell, and for top dollar at that. You’re not even worried about stuff like curb appeal because everything is flying off the shelves. Well, not exactly.
If it’s been six showings and you still have not gone under contract, it’s time to determine where the weakness is. The answer is usually two things, price, and condition, though marketing can also play a role. If the house is priced right, it will sell right away. If it is priced wrong in a hot market, it’s the way the property is priced or the way it’s exposed.
That exposure, or marketing, includes both modern and old-fashioned tactics. Having high-quality professional photos and easily accessible information help sell a home. Also what helps, is listing agents who know the neighborhood.
Price is important. Too many sellers set the price based on what they want to get for their home rather than what comparable homes are selling for. Or they think that having an updated roof or air conditioning is enough when in fact the kitchen is very outdated and so are the bathrooms.
Price the home based on sold homes, not actives. You need to look at the facts. Information is more than readily available via websites, apps and online home valuation tools to know what a home is worth before they come to look at it.
Don’t panic if you’re home is not updated, it will sell. It just needs to be priced based on its condition. The price needs to not scare the buyer away and has to be presented at a price that reflects that it needs to be remodeled.
No matter if the market is hot or not, removing clutter, sprucing up your home’s curb appeal, opening curtains and using professional photos in the listing will help it sell faster. You have to prepare your home to be as presentable as possible.
Everyone is familiar with the home improvement shows on TV with the personable couple who buys a forlorn house, turns it into something beautiful and sells it for profit within a few months.
The reality of this is, that it’s not as easy as it looks. People make money off of flipping houses every day, but the secret to that success starts with really knowing what you’re doing. Finding a good house to flip is much harder now because the market is so strong for bargain-priced homes.
You need to start by finding a house to flip that makes economic sense, and this task is difficult. You are in direct competition with retail buyers because they are buying the ugly houses as there is nothing else.
Another big key to success when it comes to flipping a house the right way is accurately estimating both cost and timeline. There will always be surprises along the way, of course, you still need to calculate the true cost of getting the property ready for sale. This includes purchase price, repair costs, marketing expenses and carrying costs, such as mortgage, insurance, and utility payments.
You must understand the construction and issues faced by older houses so you can make the most accurate estimate. You don’t know what lies behind the walls of the house you decide on whether its mold, asbestos, water damage, antiquated electrical lines, foundation issues or crumbling pipelines.
Below are secrets of successful flippers.
Buy at the right price. Make sure to not buy the house for the full retail price, you will need to buy below it to have money left over to spend on improvements and make a profit. You want a house to which you can add value and sell for more than you spend.
Access to cash. A traditional lender will want at least 25 percent down and also have the best rate. However, a hard-money lender, who gives a short-term mortgage based upon the value of the asset, may not care about your credit and will lend enough to buy and rehab, but he or she will charge 10 to 15 percent interest or more. You could get lucky and find a private lender who trusts you enough to give you a loan for acquisitions and repair costs at a reasonable rate, but that often takes a track record unless you have relatives with money.