All Forum Posts by: Enrico Angella

@Ike Patel

I would personally pass.

As far as CapEx, lenders usually consider $ 250 per door per year in their underwriting, so 1k in your case. To be on the conservative side, you could consider $ 300 per door per year.

On top of that, you would have to take into account vacancies, usually the highest between 5% and the current rental vacancy rate in the area where that 4plex is located.

Cheers

Hello Ann,

I'm not an expert in the Barcelona market, but I was looking at it some time ago. Prices have gone up quite a bit and are back or over pre house crash prices. 

What would your strategy be? Unfortunately, Airbnb and short term rentals are heavily restricted. Your most likely option would be a long term lease, which in Spain is 5 years or longer!

If you want to check some properties and get familiar with Barcelona neighborhood and prices, check out www.idealista.es, it's their Zillow. 

As for Berlin, I owned real estate there for a little over 10 years. I would stay away from Berlin. It is an amazing city if you want to relocate there, but the current real estate market is 100% investor unfriendly. Prices are very high, no chance to short term leases, leases have no term and only the tenant can exit the lease. Moreover, Berlin municipality passed a rent control law last year that wiped out real estate investing there. 

Cheers and best of luck in your investing

I would pass on and try to find another prospective tenant.

These days are already tough enough with all the economic problems due to covid and the extension of the eviction moratorium until September

@Andrew Hyder

You can use listsource.com to build a list of owners/houses and target specific properties that fit your search criteria. Depending on how specific you are with your search, the price per query goes up.

I bought a couple of customized lists from them and I was quite satisfied. You can build a list and see how many properties fit your criteria before actually buying the list. The minimum purchase is $50 I think.

@Steve Rozenberg

I can totally relate to what you wrote.

I own a few properties in D neighborhoods, the returns aren’t too bad, but they are very very time consuming

Thanks for sharing the info, I found it very interesting!

I wouldn’t trust Zillow too much, because it might be based on listing data and not actual transaction prices.

I am currently looking at San Antonio for multi-family deals, so a different kind of investment. However, as for SFR, prices seem to have increased a lot in the last 6 months in SA.

I would definitely find another agent. Communication at least isn’t great from that agent!

@Sophie Latapie you can definitely market your property as energy efficient, and some tenants will definitely prefer your property over other less energy efficient.

I wouldn't charge a flat fee, because you will most likely find tenants that don't care about saving energy or water. We know how a lot of people use and consider free resources. Also, there would be so much energy waste in such a scenario, not very good for the environment either!

In my opinion, you should definitely upgrade your property and make it more energy efficient, but always stay within a budget. Don't overspend on items that your competitors' properties don't have or that are just too much for the rental market you're in!

Having said that, I like your vision. When I have to replace an appliance or things like a/c and windows, I always try to replace those items with energy efficient ones.

cheers

I hope it's not gonna happen because we want to move to Austin and buy a house here in a couple of years! :) 

anyway, the market right now seems so crazy and unpredictable because of Covid and lack of inventory.

@Neil Narayan can you MP the youtube link?

cheers

a 30% ROI doesn't sounds too good to be true for a passive investment, and usually when it's too good to be true it it's true! I would personally stay away from this guy!