All Forum Posts by: Mark Mazzucco

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $315,000
Cash invested: $75,000

Bought a broken down triplex, 500/mo rental leases, flipped the property and now getting 1500/mo on leases. Definitely a great model I've established and happy to share.

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

The ROI on per door after the flip.

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

Saw it on MLS, it wasn't even off platform. Being loan officer I get access to a ton of off market deals, so happy to share this with anyone that is interested!

How did you finance this deal?

Conventional financing

How did you add value to the deal?

Flipped it completed from head to toe.

What was the outcome?

1K/mo per door increase in rents

Lessons learned? Challenges?

Challenges were the time it took to get the doors back online

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

I was the lender but happy to help any other fellow investors with the loan aspect of things! As for agents, I have a few that are incredible in the valley that I am always happy to connect with.

Hey! Where are you getting a 7.12% mortgage rate? I am a loan officer and I think the biggest thing is you should be around 6.375-6.5% for that type of purchase. Which might help. Happy to send you some numbers! Let me know.

Quote from @Mike S.:

Hello,

I would like to start STR in Sedona, AZ. I found a nice house around 800k. With 20% down and interest of 7.12 yearly mortgage is around 56k. For that house Rentalizer estimates 65k income and 22k costs which makes 43k net profit. My understanding is that Rentalizer overestimates both income and costs. I don't mind spending 10-15 k out of pocket in the first couple of years because of high appreciation in the area. What concerns me is that net profit turns much lower than I expect and I have to pay way more out of pocket for so many years. What should I do?

Bryant Schur Hey there. I am looking at making my very first purchase in Beaumont, TX. I know you said you could help analyze deals, but did that mean only in NY?

Alex Saleeby it won't let me PM you. Thanks! My plan is to stay there for work for 5-7 years and then look to move back to AZ once I have experience and potentially keep the property and rent to people with a management company. I have a 780 credit score and really don't mind what I live in. I just want to set myself up to start investing with properties and figured my first house I purchase would be good to keep in mind what I want to do with it.

Hi,

I am moving to Beaumont, Texas for work this fall and am contemplating on what to purchase/do to plan ahead. I was thinking of buying a home and trying to rent to several coworkers. 

Is there any advice on my first purchase? Should I look at house hacking a duplex or should I get a house and rent out the extra 2 or 3 rooms? I have 60K in cash saved but it seems like putting less down is the better route. I will be making 100K annually and don't have any significant others to worry about taking care of. 

Any suggestions or advice would be great! Or anyone in the Beaumont area that can help!

Best,

Mark