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All Forum Posts by: Eric Giovannucci

Eric Giovannucci has started 33 posts and replied 161 times.

Post: Debt to income ratio problems

Eric Giovannucci
Posted
  • Investor
  • Boise, ID
  • Posts 171
  • Votes 98
Originally posted by @Maron Faulkner:

@Tyler Kortz

just an update, my mortgage company who got me my first Boise house is preapproving me for 320k with 15% down, which is doable. They were great to work with before, didn't know they could let me do 15% down, so I'm now...cautiously optimistic...

Hey Maron, would like to connect with your lender if you're willing to share! Always looking for a good lender in the Boise area. 

Post: $250K to $300k-where would you buy?

Eric Giovannucci
Posted
  • Investor
  • Boise, ID
  • Posts 171
  • Votes 98

If Boise is on your radar, shift about 20 miles left into Canyon county. The overpour from the Boise Market is developing and buying in Canyon County. Nampa/Caldwell is seeing 3% appreciation month over month. 

Post: Moving to TN when you have rentals in WA

Eric Giovannucci
Posted
  • Investor
  • Boise, ID
  • Posts 171
  • Votes 98

@Jack B.

Totally understand why you don’t want to use a PM, we differ in our opinion there but I do absolutely get why you would not want to.

That is why I suggested 1031 into the Boise/Idaho area that you had mentioned in your post. Allows you to move there as you had mentioned and move into probably one of the hottest markets Ytd.

Post: Moving to TN when you have rentals in WA

Eric Giovannucci
Posted
  • Investor
  • Boise, ID
  • Posts 171
  • Votes 98

@Jack B.

I’d advocate for a solid property manager and move wherever you want.

But sounds like you want/need to be heavily involved. Could always 1031 everything down here into the treasure valley in Idaho and move along with it.

Post: 1031 exchange in california 2021 opinion

Eric Giovannucci
Posted
  • Investor
  • Boise, ID
  • Posts 171
  • Votes 98
Originally posted by @Grant Schroeder:

@Linda West we love all the learning that comes with REI! Have you looked at AZ or ID at al for out of state investing? Tucson, AZ and locations in the Boise, ID metro are still higher in rent, but still slowly trailing behind in price points.

Even better than Boise- going out into Canyon County just outside- the growth here and rents are following the upward trend. Looks like there is a lot more room for growth and value add opportunities in that area than in Boise proper. 

Post: Data driven investing

Eric Giovannucci
Posted
  • Investor
  • Boise, ID
  • Posts 171
  • Votes 98

@Matthew Boutte

I’ve seen some crazy numbers coming out of Boise. Would certainly be up for chatting about the opportunities here. We are working another multi family development and see the opportunity for these in the outskirts of Boise (canyon county) pretty high.

Post: Getting going on syndicating

Eric Giovannucci
Posted
  • Investor
  • Boise, ID
  • Posts 171
  • Votes 98

Interested in getting into new multi builds in the Boise Metro Area? 

Post: Getting Started as a New Agent in Texas in this crazy market?

Eric Giovannucci
Posted
  • Investor
  • Boise, ID
  • Posts 171
  • Votes 98

Hey Steven, 

Welcome! I made the jump from Investor/Military Officer to a full-time Realtor a few months ago. Few things that helped me really jumpstart: 

1) Who you work with matters: Your brokerage is more than just a name, I am with Keller Williams Boise, and most people love to knock on exp/KW/local brokerages for the stigma's surrounding them but the bottom line is, it's a name. The people that are within that local organization are where your money is made. I interviewed several brokers and what I gathered was this: Most exp agents were trying to "recruit me to their downline" and not necessarily wanting to bring me on their team. Saw this with a few KW agents as well. The local brokerages for the most part were mainly about "low fees" but offered little training/technology/Support. These are mainly generalizations and my personal opinion, not "factual" in nature.

2) Find a team and join it! If you listen to the podcast I'm sure you've heard David constantly talk about how we've lost the mentality of apprenticeship, this is true. I'll be upfront- it was an ego gut check for me personally after making it so far in the military and having a pretty solid knowledge of real estate (about 9 years investing) to be a new agent on a team giving up a good split. But, you're paying for more than just the brand, you're getting mentorship, an inside view of how their team and systems/processes work, and you can evaluate and decide if you like this model or if you want to build your own brand in the future. 

3) Hold open houses for EVERYONE! I volunteer every weekend and try to do 2/3 a weekend. I've found what works best for me is not scripting and being a typical sales-minded agent and really just enjoy talking to people. I've never had a sign-in sheet, I leave some contact cards for people to fill out and never ask for them to fill them out unless they want to work with me. Most people would scoff at this, moral of the story? Do what you're comfortable and natural at and it will come to you with small adjustments, don't read some Ben Kinney scripts verbatim at an open house, and expect your robotic reactions to garner any real interest. 

4) Network your butt off! I've taken more seasoned agents to coffee just to pick their brains than I can count in the past few months. And I have yet to regret that 5 dollars I spent on coffee, people like @Corby Goade who run successful teams but always take time to reach down and be a mentor are a god sent, and I'm sure there are several in your market that would be willing to do the same.

5) Last but not least, even if it's your part-time gig, for now, give your clients your full-time attention. No one likes a half-assed approach at one of the largest financial decisions the average American will make in their lifetime. Educate yourself, ask questions and be honest. If you don't know something tell them how great of a question that is and that you want to ensure you get them the most up-to-date info and go find it! 

Read @David Greene's book Sold. I'll be honest, I usually laugh when people tag him in stuff, so I am doing it just to make fun of myself. But in all reality. I have been through that book twice already and I am sure it will be a resource I go back to as I refine my own business model. 

If you have specific questions or just want to chat, reach out. I love a good reason to try and find a reason to not do telephone prospecting haha. Heck, I can even sales pitch you to add you to my downline at KW if you'd like!- Kidding, kind of. 

Good luck man, don't get discouraged. 

Post: The future of STRs in your local market?

Eric Giovannucci
Posted
  • Investor
  • Boise, ID
  • Posts 171
  • Votes 98

@Connor Dunham

Hahaha I’m getting ready to hang my license back up in Alaska, gotta share my secrets right?

Post: Investment #2 - Short-Term Rental/House Hack

Eric Giovannucci
Posted
  • Investor
  • Boise, ID
  • Posts 171
  • Votes 98

@Colby GeDeros

Nice! The ADUs are money makers right now, especially down in Boise.