All Forum Posts by: Gaetano Citera

Under contract to buy a home that needs to be completely torn down. 

I was planning on building the home in the traditional stick built style in my budget but am wondering if doing prefab may save some money/have other benefits. It will be quicker I am assuming and will save money on my construction loan interest as a result but want to hear some other thoughts from others with more experience with new builds.

for some context I am in Dutchess county ny, property has public sewer/water. 

Also if you have experience with prefab and have recommendations in the tristate area let me know! 

I am at a bit of a crossroads. I am 4.5 yrs out of college and work with a telecom real estate fund and have always wanted to invest in real estate on my own. Although I enjoy the benefits of working for a company I am beginning to get tired of the corporate grind. I have flipped a few houses during covid and remote working times and was fortunate enough to grow up in a family of real estate investors and entrepreneurs which has provided me mentors and exposure to starting and operating a business.

I am thinking of starting my own construction/development company in a few years time and wanted to hear some opinions from people who have done it who are outside of my circle. The year I flipped homes was some of the most challenging, fulfilling, and genuinely fun time I have had working in my career so far. I also believe there will generally always be a demand for gc's/contractors in the long run and it is a real estate adjacent which would keep me "in the know" for off market deals and opportunities in my area. My big goal for my career if I pursued this would be to be developing commercial real estate projects and building a portfolio of my own real estate investments. 
 
With that being said, most of the people in my immediate network who are in the construction business say the most valuable skill is just being able to run a team and a job efficiently and if they could start over they would go the GC route. A few others have said a plumbing/electric/excavation company is the route they would go. Whatever direction I go, I would leave my current job and take a few years to learn the craft and business under someone else before breaking off on my own. 

Does anybody have any thoughts/suggestions? What direction would you take if you could start over? Would you bother getting experience working under someone else? 

Hello,

This was my first year flipping houses and I am now finishing my books for tax season. I am aware I need W-9s and 1099s for each contractor I paid over $600 that is not operating under a corporation. My question is how can I tell what kind of business a contractor is operating? Is there an easy way to tell or do I have to approach each contractor and ask?

I am definitely now learning that it is much easier to request a w-9 before paying anyone...

Hi all,

I wanted to make a post regarding cell tower or rooftop cell antenna leases on properties that BP members either own or are looking to purchase. I work with a fund that purchases telecom assets and am happy to have a conversation or answer any questions that anybody may have regarding these types of assets. They do have similarities to commercial leases but are viewed differently that traditional real estate by my industry. I think the assets are very interesting and love discussing and sharing knowledge about them. This is not necessarily an ad selling my services, but if applicable I am happy to look into purchasing a telecom lease asset (on behalf of my company, Symphony Wireless) from any interested parties who have these assets. 

Hi all,

I wanted to make a post regarding cell tower or rooftop cell antenna leases on properties that BP members either own or are looking to purchase. I work with a fund that purchases telecom assets and am happy to have a conversation or answer any questions that anybody may have regarding these types of assets. They do have similarities to commercial leases but are viewed differently that traditional real estate by my industry. I am not soliciting to sell my services, I just think the assets are very interesting and love discussing and sharing knowledge about them. 

@Jay Hurst@Dennis Muno@Erik Estrada

A few questions about DSCR loans

Generally, What is the minimum DSCR to qualify?

Can I refinance at a later date?

Is there an early payoff penalty?

Thanks for the input, Jay. That opens the door to many more possibilities!

Hi all,

I'm getting started in my real estate journey, I currently flip homes using a hard money lender. I want to buy and hold some properties and am looking for 2-4 unit multifamily's. I have been underwriting many deals recently but it seems like the numbers almost never work out to good cash on cash IRR returns. I am curious about loan structures for this property type.

I have mainly been using 12-15 year loan terms (amortized over 12-15 years, no balloon) with 7% interest in my underwriting

I have only spoke with hard money lenders, so am not too familiar with my options for traditional financing.

Can I use conventional 20-30 year financing for this property type or am I stuck in the commercial loan category with shorter terms or balloon payments when the loan matures?

For reference I live in and want to invest in the Hudson Valley NY. Any input is appreciated!