Welcome to the Movers and Shakers Podcast. This week’s guest is Daniel Krueger. Dan graduated from the University of St. Thomas, in St. Paul Minnesota with a degree in Financial Management. Before beginning his career as a real estate investment professional, he spent 5 years working in corporate finance where he managed the operating expenses for multinational fortune 500 companies.
In January of 2018 Dan closed on his first property, a small 6-unit apartment building in St Paul Minnesota for $475,000. The business plan was simple, fix up the units, improve the tenant base, and increase rents to the market rate. Nine months after the acquisition, Dan refinanced the property at a value of $600,000.
He used the refi proceeds to get into his next deal, an 8-unit building about 3 minutes away from the first property. Dan currently has a portfolio of 34 units made up of 4 properties all in the same neighborhood. Dan currently is working on closing his first syndication deal, a 32-Unit property in St. Paul Minnesota. Dan is building a vertically integrated business with property management in-house as well as in-house maintenance and construction. From here on out, Dan plans to focus on the syndication business to keep scaling up, as well as developing strategic partnerships to accelerate growth.