All Forum Posts by: Giorgio Peirano

Hi Scott

Nice to meet you. Im new in Florida, base in Vero Beach 2 weeks every 2 months.

I read you organize a monthly meetup in Stuart. Can you tell me if you will have one in August, maybe i can Stop by.

Thanks

Giorgio

Hi 

I´m preparing myself to start doing do Long distance BRRRR in the mid future. I have been following the BP and "on the Market" podcast. On one of them, @Dave Meyer mention sevenal cities for rental, and Detroit pop as a good Rental/Buyprice market ratio. 

Traying to get familiar with the numbers and practice calculations, i check on Zillow sold prices in some Zip codes (I´m from Chile in South America and dont knowi if is bad neighbordhoods) 

For my surprice, i find plenty of 30-75k sold properties in diferents shapes and dates, but even in 2022.

¿i'm doing something wrong on the search tool? 

closing costs will be added, but ¿are this actual prices?

Thanks for the help´

Giorgio

Hi Everyone.

After a first BRRRR that work ok ...

I´m doing my second one here in Chile. I auction this condo en April. After paper work and geting tenant out, I start working en of July.

Hope to finnish mid october. Whatever Tips are always welcome, happy to learn!!

Here some pics of the progress. I hope to share some numbers when i finnish.

Hi Evan

Thanks for Yoyr feedback.

I finally sign today for the loan, and leaving 19.75% In and will breack even with the rent/mortgage.

At least i win equity from the pay price to appraisal.

we will go out there and try to doit again.

Regards

Giorgio

Hi everyone.

My first time writing a post here in BP, Im from Chile (South America).

I need some help on my BRRRR because i got stuck in latelly change of conditions.

I auction a condo on december 2020. I pay (all in) arround U$76.000. After some cleaning and paint/repais (i DYI), appraisal come back at a value of U$97.000. First success 27% equity improvement.  I start the proceess for the loan and because pandemic, all paper work on 2021 was a total disaster. Bceause inflation banks now reduce in Chile from 30 to 20 years maximun, and the rates increase a lot. What it´s suppoust to be a 30 years loan for a U$100/month cash flow with 100% of my money recover NOW i have to decide to:

Option 1: ask for less total money 80%, leaving 20% inside in order to match the monthly Bank Payment to the rent im getting (cash flow U$=0).

Option 2: get out 90%, leaving 10% inside and have a negative cash flow.

I always consider that i can always renegotiate the termns if the situation in the country get better in a couple years (i hope). 

Any opinions on option 1 or 2, will be help full.

Im very frustated because even if i know i add a good piece of equity, but the deal is getting tough.

Thanks on advance for the help

Regards

Giorgio

pd: thanks for the patience with my english