All Forum Posts by: Anthony Tumbiolo

Hey Trent, shoot me a DM and I'd be happy to jump on a call to chat more.

@Michael K Gallagher going to self manage the Airbnb since we will live in same building

Doing STR to increase cashflow of that unit vs what a LTR could bring in

Although later we might change that to a standard LTR

@Michinori Kaneko no this is a different one

@Michinori Kaneko yep, very close to GE - on W Washington Blvd

Happy to show you them any time! Let me know next time you're in town

@Michinori Kaneko we've thought about it. given my background in business and managing projects it's def something we've discussed as an option

ya, we are getting pretty serious haha. haven't been overly impressed with GCs or PMs so figured we'd just have her get the license and we'd manage it all and then handle all property mgmt. will definitely be a learning curve because its managing physical units vs software but will be a fun challenge 

and yes, stock market was wild today / past week. real estate is a great asset class :)

@Michinori Kaneko thanks man! I’m excited

Ya, going to be self managing all the renovations (my girlfriend actually about to take the GC test so we can also pull permits ourselves). Will hire specialists to do most of the work though.

Will be property managing ourselves as well

@Michinori Kaneko thanks man!

46802

Investment Info:

Large multi-family (5+ units) buy & hold investment in Fort Wayne.

Purchase price: $250,000

6 unit property.

Buying, renovating, increasing rents, then will hold long term.

What made you interested in investing in this type of deal?

Neighborhood is turning and is walking distance to downtown.

This property was a value-add opportunity.

Can improve property, increase rents, and cashflow nicely.

How did you find this deal and how did you negotiate it?

Off-market, broker brought it to me

How did you finance this deal?

25% cash down and 75% loan from a local bank

Will be funding renovations through a line of credit + cash

How did you add value to the deal?

- Going to be remodeling each unit (new appliances, bathroom, countertops, refinishing floors, etc)
- Changing heat from gas to electric because electric is metered so tenant pays
- Adding AC to each unit, which will be electric also
- Improving common areas
- Improving curb appeal

Might build 4-6 new units because the lot is very large

What was the outcome?

Just purchased and renovations starting.

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Fort Wayne.

Purchase price: $100,000

Bought a 3 unit property in Fort Wayne, Indiana.

Will be combining 2 units to turn into my primary residence and will keep 3rd unit as an Airbnb to enable me to live for free.

What made you interested in investing in this type of deal?

Neighborhood is turning and is walking distance to downtown. Wanted to buy a place that could allow us (me and my girlfriend) to house hack and live for free or cover most of the expenses.

How did you find this deal and how did you negotiate it?

Off-market, broker brought it to me

How did you finance this deal?

25% cash down and 75% loan from a local bank

Will be funding renovations through a line of credit + cash

How did you add value to the deal?

Going to be putting in about 100k worth of work. 2/3 units need significant work to become live-able again.

What was the outcome?

Just purchased and starting on renovations now.

@Tasbeeh Corporan-Francois happy to

Will send you a message now