All Forum Posts by: Adrian Tuazon

Became a commercial real estate underwriter at 23. Purchased by first duplex at 25!

I find being a commercial real estate underwriter for a bank provides the skill set to quickly analyze a deal, perform proper due diligence, and have a better interaction with appraisers and attorneys. I find the only negative about this (which isn't the worst thing) is that it gives me too conservative of a mindset.

Hi everyone,

I attended college in Buffalo for four years and currently live in Queens, NY. I currently own a duplex in Buffalo purchased this year and under contract to purchase another duplex in the same area. I'd be happy to discuss the rental market with anyone and I look forward to connecting with you all!

Best,

Adrian

Hi BP Community,

I am working on a potential acquisition deal and can use some help in determining market cap rates. Wondering what range of cap rates you guys have been seeing in the Staten Island market as of lately. The deal consists of a 12-unit apartment building.

Much appreciated, thanks!

Adrian

I'm seeing 3.75%-4.00% in Manhattan, NY.

Hi @Pavel Reyes Valdes, 

I was born and raised on Staten Island and recently moved into Queens. I'm in Staten Island often on the weekends and looking into properties in the area. Always looking to grow my network on the island.

Adrian

Hi @John Mocker ,

The space heaters are fueled by gas.

The space heaters have a control knob on them (level 1,2,3) which controlled the heat and an automatic shut off once it reaches a certain temp.

There are two units in the house, 2 space heaters in the lower unit and 1 space heater in the upper unit.

All space heaters are located in the livings room of each unit and powers the entire unit.

The house is located in Buffalo, New York.

I look forward to hearing your response!

Thanks,

Adrian

Hello BP community,

I recently purchased a property that is heated by direct vented space heaters which is somewhat common in the area.

The property was initially insured by Geico/Travlers however, I've just recieved a notice that they can no longer insure the property to due the lack of central heating and a thermostat control.

Is anyone familiar with this type of heating system and have any recommendations for insurance companies that would insure a property with such heating system?

Thank you,

Adrian

Congrats! Renovations look awesome, looking forward to what the third deal will look like!

Adrian

If it is just an entity to hold the property, I would keep it simple and name it "Property Address" LLC.