All Forum Posts by: Michael Giuffre

I'm an investor in Raleigh and Durham with about 40 units. I generally BRRR and hold 2+ unit properties, no flips. If you have any multi-unit properties in the area (up to 1hr away) please send details, and let's see if we can get a deal done!

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I am invested in both their Fund II and Fund III. So far I am happy with their communication, diversification and CoC returns.

Average NOI per door (before mortgage) is currently $710+/mo. across roughly 40 units.

I'm 35, have 26 units, have been investing in RE for 4 years, and just quit my high paying job (just before COVID) to do real estate investing full time. I primarily buy and hold small multifamily properties (duplex, triplex and quads) for > 20% cash on cash returns and use the BRRR method coupled with income from periodic wholesales to fund more and more acquisitions. I also recently invested in 7,500 self storage and mobile home units as a passive investor.

Real estate is the best thing that’s ever happened to me. I had negative net worth in 2014 and am now solidly into 7 figure territory, primarily driven by smart real estate plays and tons of hustle and hard work. All that to say, it can certainly pay off if you are obsessed with learning and making this your focus.

I was approved for a PPP loan using my 2019 outgoing 1099 contractor payments who fell under the intitial guidance of being considered "Payroll."  This seems to have since changed.  Regardless my loan was disbursed to me, and now I have a severe lack of clarity as to whether the loan can be forgiven using a combination of either a.) my next 8 weeks of outgoing 1099 contractor payments who are essentially my payroll that I keep busy with rehabs, or b.) my next 8 weeks of net profit from my rentals, which is now my sole source of self-employed income.  Logic and the guidance seem at odds right now, which leaves investors like us in quite a predicament...

Haha, it's marry(like a couple that gets hitched)-etta (like the musician Etta James).  

Investment Info:

Single-family residence buy & hold investment in Marietta.

Purchase price: $90,000
Cash invested: $25,000
Sale price: $165,000

Sold for $165,000 after investing $25,000 in cosmetic renovations. Decided to sell all of our SFH to focus on multifamily properties.

I agree with @Mike Dymski - however I would add that you could buy a home warranty that covers the HVAC units which will run you $400-$900 a year, and will pay to repair/replace most of the HVAC systems when they fail. That said, I would only do that if you're otherwise cashflowing on the property with a good property manager in place. I do this with several of my SFH, duplexes and triplexes.

@Jimmy Doyle Hey Jimmy! I’m an investor in the Triangle with 15 units, and did a few wholesales as well. What strategies are you pursuing (buy and hold, flips, wholesale, agent, etc)? I focus primarily on buying off market multifamily properties in Durham and Raleigh to fix up and then hold for cash flow. Would be happy to connect.