All Forum Posts by: Levi Giafaglione

Hello, Im looking to network with low income housing investors in San Diego, whether it be section 8, or other vouchers.

Or transitional homes like ila’s or group homes.  
My day job is a Housing Navigator for NAMI and I place clients in homes who have these vouchers.  Often there are increased incentives for the landlords, but this isn’t advertised.
I am also looking to open some independent livings this year.  

please comment below, if you are in San Diego and currently do this strategy, or want to.  Thank you.

I am steady on the hunt for Multifamily properties in Dayton OH prefer 3-4 units but a minimum of two.  I am looking to connect with other investors/property managers/wholesalers in the area.  What is the best way to do this aside from biggerpockets?

I am an investor living in southern California.  I own a duplex in Ohio and some land lots around the country.  I need help with taxes and getting the most out of the tax code, including educating me on how to write off travel fare to my units.  

I am in the process of looking at a 4/1 sfh for $64k.  The seller is willing to sell on terms but has had bad luck with the contracts he has previously used.  From my understanding there is a loophole in the Land Contract that made his previous tenants/buyers legally able to sell the house.  Is this not changeable?  Our realtor has suggested that we do a Lease Purchase contract.

I want us to both be safe.  Additionally seeing as how I will be rehabbing the property before my terms are due with him, will I be safe to do this without him selling/helocing it from under me?

Investment Info:

Single-family residence buy & hold investment in Donora.

Purchase price: $14,977
Cash invested: $1,500

Long term hold as rental.
2/1
900sqft

Pending renovation loan

Purchase: 14,900
Rehab: 30,000
Arv: 55,000

Rent comps:$800

Noi: $5800
DSCR 15 year: 1.5x
DSCR 30 year: 2.39x

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

Creative financing.
Low cost.
Starter investment.
Small house.

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

I searched Zillow for owner financed properties. Found a few and narrowed it down.

How did you finance this deal?

Seller will carry for 7 years

How did you add value to the deal?

Will be renovating it and putting tenants in

What was the outcome?

Pending rehab loan

Lessons learned? Challenges?

I shouldnt be so afraid to talk to people.

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

Bob Veitch went over and checked out the property for me. He changed the locks and sent me plenty of pictures. He is also on bp.

I will be needing a property inspector, General contractor (I am getting this house at a bargain due to previous GC running off with $) as well as a property manager if you have experience with one in the area.  Thanks in advance.

Are you planning a BRRR? For a flip or long term hold?

This sounds great!  I live in the La Mesa area and I can bird dog for you!

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $13,000
Cash invested: $85,000

This is a new construction build pending funding for phase one. Funding has been secured for phase two.

New Septic System 4k-7k
Propane *500/year lease
Rainwater Collection System 3k
foundation 10k
build private road costs $6400
Solar - 3k (free or reimbursement)
Earthmoving $7/SQFT

ARV: 480,000
Total investment: 100,000

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

The market for preexisting homes in this area are in the half million dollar range. With the land prices super low, and people moving further east in the county I see this as a great brrr strategy.

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

The owner was originally asking twice what he paid for it, even though the property has remained undeveloped and acquired more brush and obstacles. I negotiated to the price he paid for the property.

How did you finance this deal?

How did you add value to the deal?

We will be adding value to the deal by having a prefabricated shipping container home delivered and installed in one day. Once the home is in place, it will appraise within market range allowing to be rented and qualifying for a cash out refinance.

What was the outcome?

Lessons learned? Challenges?

Challenges with the property is our advantage as the previous owner doesn't want to deal with costs and time of general contractors

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

Yes.