Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here
Pick markets, find deals, analyze and manage properties. Try BiggerPockets PRO.
x
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Ion M. Cerga

Ion M. Cerga has started 11 posts and replied 23 times.

Post: Small Multifamily build and hold an idea of long term prosperity.

Ion M. CergaPosted
  • Real Estate Agent
  • FAYETTEVILLE, NC
  • Posts 25
  • Votes 15

There are so many ways to make it happen in real estate and for one reason or another I got in few years ago when a Lyft passenger gave me this advice. So i start my career in real estate as an agent and about three years ago I discovered Biggerpockets community that I dicovered that the ways of making money in real estate are basically unliomited, creative financing, storage, flipping, house hacking, wholeselling and much more. 

So here we are 5 years in with 4 rental properties working with buyers and sellers most and looking to find partners for building small multifamily buildings, duplexes, triplexes, quads, rent them out, refinance and reapeat, buy land, build the unit, rent, refinance, repeat so we got a BLBURRR. It is not an original idea and I've seen people doing already this in other markets. The idea is to create cashlow and wealth through equity and appreciation so the plan we can build few units , sell them and split profit 50/50, while I am the boots on the ground overseeing the process of building from start to finish, meanwhile the partner brings 100% of funding. 

Beacuse of the great aflux of the capital related to the Fort Liverty I am positive that this market will continue to grow and appreciate and I am positive that sooner you start investing in local market better you can do in the long term. 

Rising Capital and funding at some point seems the problem number one, however I am working on the getting other pieces of puzzle together so when opportunity arise all the things are in place to get it a go and start an amazing journey that will give it the name of BLBURRR.

Post: Hello, Hello 2024

Ion M. CergaPosted
  • Real Estate Agent
  • FAYETTEVILLE, NC
  • Posts 25
  • Votes 15

thanks

Post: Hello, Hello 2024

Ion M. CergaPosted
  • Real Estate Agent
  • FAYETTEVILLE, NC
  • Posts 25
  • Votes 15

I know it is in a rythm hello, hello to brighty 2024. For Some reason out of my understanding after I renewed my membership, the systems get reset and asked me to make another introductory post on the community. 

I'm doing real estate for about four years and just entered my 5th year. This time i had been listeng to a lots of podcasts from Bigger Pockets as well reading a lot of books on the topic of investing. This year was a special one because I was able to come in person for BPCon 2023 in Orlando, Florida and it was awesome! Got few conection meet in person some great people and famos personalities from this community and I'm looking forward to make it this year to the next BPCon in Cancun, Mexico. 

Looking forward to double down my real estate sales and buy 1 or 2 more rental properties before the end of the year. Let's connect and help each other!!!

Post: Time to get really in the neety greety of the creative financing and scale portofolio

Ion M. CergaPosted
  • Real Estate Agent
  • FAYETTEVILLE, NC
  • Posts 25
  • Votes 15

Hi Everyone, 

I'm a real estate agent with Keller Williams in Fayetteville, NC and in december this year i will acumulate 4 years since I joined the Real Estate.Learning how to sell and buy real estate was quite a journey, the most funny part is that I took of quite late and in the beggining the best think that i did was to buy homes for myself and my family. 

Slowely meet more agent and investors, joined the local REIA meetings and helped more buyers and sellers get their goals to fruition. I descovered Bigger Pockets podcast in Novermber of 2020 and it took me 2 years to finaly sign up for Pro Membership, partly because I was getting some more deals under my belt.

In 2023 I completed the BOLD course at my market center and got a firm bilief that this year I will Cap the sales in my market center, plus I will attent BP Con, Family Reunion and jump with duo with the parashute. 

Here is the statement that I made it public, time to get the work and stop procrastination and analysis paralysis, I'm reading the latest book of Pace Morby and looking forward to October BP Con to make more friends, meet people who are in my shoes and the once that scale it up and can inspire for more. 

I feel blessed being part of this community and looking forward to connect and help more people. 

Cheers!!!

Post: 24.45% cash on cash return deal in Fayetteville, NC in 2023

Ion M. CergaPosted
  • Real Estate Agent
  • FAYETTEVILLE, NC
  • Posts 25
  • Votes 15

Mailbox money is a term that describe the situation when you got a property that is rented and yopu got a property manager that takes care of all repairs, maintanace, collecting the rent all things and the payment to the bank is set up as well on auto pilot and after all this every single month your account balance just grow. back in the day when payments were done through check and mail, you were recieving checks pay all and grown your wealth. mailbox money explanation in my understanding. hope yopu got the point, who can help with better explanation is welcome to dive in. 

Post: 1st Primary Turned Rental

Ion M. CergaPosted
  • Real Estate Agent
  • FAYETTEVILLE, NC
  • Posts 25
  • Votes 15

well done. Keep it going!

Post: 24.45% cash on cash return deal in Fayetteville, NC in 2023

Ion M. CergaPosted
  • Real Estate Agent
  • FAYETTEVILLE, NC
  • Posts 25
  • Votes 15

Investment Info:

Single-family residence other investment.

Purchase price: $140,000
Cash invested: $15,000

This is a seller financind deal. We got a loan for 140,000.00 from with 15,000 was down payment and 125000 financed for 5 years with a baloon payment of around 115000 after 60 payments. The PI is around 630 a month and let's say 200 insurance and taxes, 145.0 property management fee and a monthly cashflow of routhly 474.8. To make this happen we got an extra cost of 75000$ for painting, granite countertops and back splash(474.8*12=5697.6. 5697.6/23300=0.2445*100%= 24.45% cash on cash).

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

Knowing personal the owner it made an easy decision to move on and find out the terms and numbers that will make sense for the owner as for us the long therm investors.

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

We know each other from church and the owners are the God parents for one of our kids.

How did you finance this deal?

We used $15000 from saving and the rest from the credit cards.

How did you add value to the deal?

We cleaned the property, re-did the floor, painting, counter top, backsplash.

What was the outcome?

Cashflow property in a great area. Mailbox money.

Lessons learned? Challenges?

Looking to find more deal with low or no money down and do more seller financing deals for real estate and chesk the possibility in other fields.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I am a local real estate agent and investor, so I'm looking always to connect with more investor to help them build their portofolia in current market and provide my help and expertise as one of the core 4 profesionals every long distance real estate investor operates with.

Post: Kick the first 100 dominos before surfing multifamily waters

Ion M. CergaPosted
  • Real Estate Agent
  • FAYETTEVILLE, NC
  • Posts 25
  • Votes 15

Hi Everyone, Ion here again, I'm a REALTOR and Investor from Fayetteville, NC

Just got back from Europe, went there on vacation with my family, to visit western Countries and see relatives and friends in Republic of Moldova. Trip was awesome, seen lots of churches, palaces, pitoresque landscapes, talke to interesting people and over all had the time of my life, all coming at a cost, these experiences tired all five of us to death.

Back in the States after a few days of rest we got back to normality, my wife working in the hospital, myself chasing for next, buyers, sellers and investors. Vacation is great and with fun time i've recieved without asking couple extra pounds that I decided to put aside. Every morning before going to work I started jogging and listening the missed episodes of BiggerPockets Podcast, getting close to hear most of them, health is a journey in itself so with jogging and podcast, from somewhere I've got an Idea.

There so many ways to make money in real estate and for quite some time I was focusing only at real estate agent part, brrrr method, house hack and as Brendon Turner use to say, getting more knowledge gives you a better understanding of the Real Estata and for this reason, suddenly I decided to get the team together and build my own , brend new apartment complex with club house, parking and storege units. In the book Who not how, the main idea is to find out what are the main parts that form all together the puzzle and outsorce all the work same like an GC outsorce the different type of jobs on costruction site. Thing is I never build a house myself, I don't have the crazy capital necessary to build 120 apartments, property management and the team to help me get this project implemented successfully.

On Monday I went to a meeting with a builder, we got a good quality conversation and I presented what I was looking for. My conversation partenr had more then 17 years in construction and was working to make his own project for 2 units, one a triplex, second a quadruplex, he got the experience, the land and the means to build it, however something was holding him back from action, something I was not able to grasp. During this convesation, he said that will hate to see me getting screwed up and loose big time, just becoause of the luck of experience in matters of the land, building, financing and so on .

I still belive that this project can be done and will be a success as long I can partner with an experienced investor, the downside of this that in exchange for this help financial, organizational and resources, We gonna offer a very good terms, interest rate form money and equity in a deal. I've reached to a few multifamily guys there with the proposal, if interested please contact me for parnering for duplexes, triplexes and quadruplexes. We've rethinked the approach and looking to implement the learning and evolution from single to multifamily, one duplex, tripex, quadreuplex at the time. We're located near Fort Bragg, biggest military base in the world and the growth of the Fayetteville, NC is on the rise. There are lots of builders, flippers, investors, developers and so on and on and people who are providing houses got great potential to make a tone of money.

As things stay right now , we are gonna sharpen the saw of being a better Realtor, working with seller and buyers. Getting a better soccer coach with Liberty Point Soccer Club - Fayetteville, NC. Continue to acquire more knowledge about multifamily real estate, meet builders, investors and bankers and plan to strategize the next project that shall come before the end of this year. First duplex, Triplex or Quadruplex.

What are your story and what will be your practical advices? Who is your preferred construction lender in North Carolina and yes, looking to connect with more people on the platform and looking to contribute with my time and energy to make this space an outstanding one. Much love!

Hi Everyone, Ion here again, I'm a REALTOR and Investor from Fayetteville, NC

Just got back from Europe, went there on vacation with my family, to visit western Countries and see relatives and friends in Republic of Moldova. Trip was awesome, seen lots of churches, palaces, pitoresque landscapes, talke to interesting people and over all had the time of my life, all coming at a cost, these experiences tired all five of us to death. 

Back in the States after a few days of rest we got back to normality, my wife working in the hospital, myself chasing for next, buyers, sellers and investors. Vacation is great and with fun time i've recieved without asking couple extra pounds that I decided to put aside. Every morning before going to work I started jogging and listening the missed episodes of BiggerPockets Podcast, getting close to hear most of them, health is a journey in itself so with jogging and podcast, from somewhere I've got an Idea. 

There so many ways to make money in real estate and for quite some time I was focusing only at real estate agent part, brrrr method, house hack and as Brendon Turner use to say, getting more knowledge gives you a better understanding of the Real Estata and for this reason, suddenly I decided to get the team together and build my own , brend new apartment complex with club house, parking and storege units.  In the book Who not how, the main idea is to find out what are the main parts that form all together the puzzle and outsorce all the work same like an GC outsorce the different type of jobs on costruction site. Thing is I never build a house myself, I don't have the crazy capital necessary to build 120 apartments, property management and the team to help me get this project implemented successfully. 

On Monday I went to a meeting with a builder, we got a good quality conversation and I presented what I was looking for. My conversation partenr had more then 17 years in construction and was working to make his own project for 2 units, one a triplex, second a quadruplex, he got the experience, the land and the means to build it, however something was holding him back from action, something I was not able to grasp. During this convesation, he said that will hate to see me getting screwed up and loose big time, just becoause of the luck of experience in matters of the land, building, financing and so on . 

I still belive that this project can be done and will be a success as long I can partner with an experienced investor, the downside of this that in exchange for this help financial, organizational and resources, We gonna offer a very good terms, interest rate form money and equity in a deal. I've reached to a few multifamily guys there with the proposal, if interested please contact me for parnering for duplexes, triplexes and quadruplexes. We've rethinked the approach and looking to implement the learning and evolution from single to multifamily, one duplex, tripex, quadreuplex at the time. We're located near Fort Bragg, biggest military base in the world and the growth of the Fayetteville, NC is on the rise. There are lots of builders, flippers, investors, developers and so on and on and people who are providing houses got great potential to make a tone of money. 

As the things stays right now , we gonna sharpen the saw of being a better Realtor, working with seller and buyers. Getting a better soccer coach with Liberty Point Soccer Club - Fayetteville, NC. Continue to aquire more knowledge about multifammily real estate, meet builders, investors and bankers and plan strategize the next project that shall come before the end of this year. First duplex, Triplex or Quadruplex. 

What are your story and what will be your practical advices? Who is your preffered cobstruction lender in North Carolina and yes, looking to connect with more people on the platform and looking to contribute with my time and enery to make this space an outsanding one. Much love!

Post: Use Equity to buy more deals!

Ion M. CergaPosted
  • Real Estate Agent
  • FAYETTEVILLE, NC
  • Posts 25
  • Votes 15

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $350,000

Kiosaky said that the real estate is on the of best ways to create long term wealth. We got our first home back in 2020 in summer, we had that home for a year and a half when we got it refinanced and we managed to get our monthly payment lower and the cash that we got was enough to procure us our dream home, 4 bedrooms, 2.5 Baths over 3000 sqf, two car garage, creen porch and a inground pool.

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

we wanted to grow our rental portfolio, and we moved to a dream home, meanwhile we made our previous house a rental.

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

Initial price was 375K we agreed for 355K and after we get the home inspection and the appraisal we managed to close it for apprased value 350k USD.

How did you finance this deal?

Money form cash out refi payed our closing costs and in the end I got paid as a buyer agant a commission.

How did you add value to the deal?

We wook advantage of the market and low interest rates to make this move.

What was the outcome?

more cash, flow more rentals.

Post: Home #3: 2201 Westhill Drive, Fayetteville, NC, 28304

Ion M. CergaPosted
  • Real Estate Agent
  • FAYETTEVILLE, NC
  • Posts 25
  • Votes 15

Investment Info:

Single-family residence hard money loan investment in Fayetteville.

Purchase price: $92,500
Cash invested: $30,000

This was the third transaction we did to grow our porfolio. Since we started buyig homes we got the following options so far: first home it was purchased with an FHA loan, we fixed it, live there and next we purchase a second home, with a conventional loan with 5% downpayment. Afer all repairs were completed we rented first home, moved to the second and for 6 months were house hacking renting one room in the home we were living. Third home we purchased using creative financing. Thanks to the podcasts and books we've studied in the last year we assumed the risk and went in the deal. We bout he home using a bridge loan from a hard money lender, 85% purchase price and 100% repairs. For downpayment we used a personal loan and borowed money from family. It took about a month to close the deal, one month to do the repairs and in September the house went on market and got rented. We started to do the work for refinancing and we got first apprasal too low. After we ordered the second appraisal the number came close and by the end of this week, first week of december we should be all set and refinance complete. Since we bought the home we are stil not cashflowing until we get refi, meaning interest payments are $780.00, monthly property management fee $121.50 , personal loan $480.00 makes a total of $1381.50 what is $166.5 short from the monthly rent of $1215.00. After refinancing our monthly mortgage, tax and insurance will be $600.00 rest of the number stays the same and the cashflow will be 20$ once the personal loan is paid it wil be $240.00. On first look this transaction does not look like a home run, however having one more rental, the difference is covered and in long run it makes sence. We bought it retail price, lesson learned, looking forward to buy many more and this time buy it smart.
Let's connect and let's see what do you think about this transaction, where can be done better, improve and get better results in order to recycle the money over and over.
Your Truely
Ion M Cerga

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

I had tenants coming in and we ready to rent it by bedrooms. It made sense to take the property, fix it lightly and start collecting cash flow.

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

I find the deal on MLS. The financing went complicated and in the end we got a price reduction from $96k to $92.5k.

How did you finance this deal?

Personal loan, borrowed money from relatives and hard money.

How did you add value to the deal?

We put $22K to $25K in Rehab, later I understood it was way too much.

What was the outcome?

House is rented and once the personal loan is paid will get $250.00 cashflow onthly if i will manage myself it can go up to $390 montly cash flow.

Lessons learned? Challenges?

You win the money with real estate when you buy it. When buying a home ne to make sure that we purchasing the home under the market value, do not over rehab.