All Forum Posts by: Nicholas Curcuru

Quote from @Noah Bacon:

Thank you for the feedback, Nicholas. I will let our team know and personally find your requests very intriguing!

 Thank you! Also another one is being able to search archived or active reports. I make several for properties I am considering offering on. Sometimes a property I need to find again as it falls out of contract or is now a comp to a new listing.

Let me know if you want additional feedback or help testing!

I know advanced investors are not possibly using this tool, by me as a newbie has been using it to do a quick check before deep diving into a property. I have come to find this as a useful tool to show data and point to it when someone asks why or why not I am considering making an offer. I wanted to provide some feedback to the developers

Requested features:

- Save basic values from last calculation or default presents: interest rates, loan term, variable expenses, etc.

- Small notes section to elaborate on property calculations, such as noting the calculation was based on a loan assumption or short term real estate strategy 

- Ability to edit name of calculation to something other than the address. This is currently only possibly if a listing gets duplicated and only the duplicates are namable 

- Button to transfer a property viewed in the rent estimator calculator to the rental property calculator. Currently, it is only possible to complete restart and enter the property information again.

- Rent estimator: ability to remove properties from consideration or refine radius of calculations. The same size structure can vary in rent/value between neighborhoods and there is no way to be more granular with selecting comparable properties. 

Quote from @Ozzy Sirimsi:

some of the numbers are too expensive for me but real estate is all about who you know and who you can find so it might be okay for your numbers

Can you elaborate more so I can learn a bit? Which side are the numbers questionable? The income is raw direct comp with AirDNA. Expenses are calculated based off my actual prequal. Renovations and furniture are the only ones I am questioning and I assume you are as well? I did add a large amount of overhead and used generous internet numbers to ensure this would cash flow given a horrible over budget and somehow not performing like an identical unit

NOTE: There is very little chance I will actually buy this, but I want to check to see how realistic my evaluation is. Up until recently, this was my primary option, but not so much anymore. I plan on using this to check my estimations and to use it to evaluate higher NOI/CoCR condos in Florida near my business and friends.

Middle-Georgia, small city, class C+ neighborhood with small 3/2 SFH's surrounding ~20 building condo complex, each building is a quadplex. Center of town, nearby city hospital/medical complex.

https://www.redfin.com/GA/Warn...

3/2 split level: 2/1 upstairs, 1/1 downstairs, none are en suite. 

Estimated renno/appliance costs: 

2x bedrooms LVP: $2.5K ($5/ft2 installed guestimate over 2br @ ~200ft2 each + $500 in noise treatment) 

2x bedroom low-profile ceiling fans w/lights : $800 ($250 labor + 150 fan 2x based on extra effort to locate mounting boxes, assuming they exist)

1x new shower/tub prefab insert: $3.5K installed (guesstimate) 

1x new toilet $400 ($250 standard 1-piece + $150 labor)

2x shower-head upgrades: $100

100% repaint : $5.2K (1600ft2 x $3.23 ft/2) may opt to do myself

100A breaker panel complete replacement & upgrade to 4-prong 220V dryer connection on other side of wall: $2k (guestimate, original panel is still present and 100% not staying)

Non-ancient washing machine: $750

LED light upgrades/replacements: $100

Kitchen cabinet touch-up + hardware + adjustments: $500 (guesstimate)

Outdoor storage room rehab (mold remediation, drywall gut + replace, leak repairs): $3K (total guess, it's like a 6x8 

Outdoor patio concrete pad & rail cleaning: $50 

Microwave: free =)

Lock replacements: $350 (schlagre encode + basic patio lock change) 

Keurig Coffee Maker: $150

Kitchen pots, pans, bakeware, utensils, cups, plates: $300 + donating my spare sets

Misc electrical work: $500 (replace light fixture, fix outlet(s), re-wire light switch)

RENNOVATION TOTAL: $22.2K or $27.5K with contingency

Furniture, linens, supplies: 

2x queen bedframe & box springs: $500

2x queen mattress: $800 

2x XL twin bedframe & box springs: $550

2x XL twin mattress: $550

6x nightstands: $750

2 full size, 2 half size dressers: $500

Mattress covers: $100

6 queen pillows, 4x XL twin pillows (1 spare 'set' for each mattress): $180

Bed sheets x 4 each mattress: $300

Bathroom linens: $200 (16 wash cloth, 8 hand towel, 8 regular towel, 8 washable floor mat) 

Metal outdoor patio furniture: $200

3-piece couch set: $700

50"+ TV w/ install: $600

Kitchen table + 4 chairs: $400

Misc crap (soap dispensers, wifi router, wifi thermostat, cleaning supplies, doormats, artwork, mirrors, lamps, air freshers, air filters, TP, etc.): $1000  

FURNITURE TOTAL: $7,280 or $10K with contingency

Other thoughts:

Kitchen cabinets have already been painted/hardware upgraded poorly. Given the cost of a full cabinet gut, this will be deferred until income to pay for it.  


Expenses: 
assuming zero negotiation buy @ 138,000 including closing, 80% financed 20% down PITI + Condo Fees, cable, sewer, trash, water: ~$1,050k/mo @ 5.75% APR 30yr fixed

Down payment: $27,600

Rehab budget: $27.5k 

Furniture budget: $10K

Monthly: Utilities: $100 power, $90 internet, $100 maintenance, $700 cleaning fees (7x times per month average)

Total Expenses: $65,100 cash + $2,040/month

Income: 

Identical comp (same condo model, different building) on AirBNB & VRBO $14.5K @ 64% occupancy over 161 days (AKA ~102 days rented @ $141/ADR) and also rented an unknown amount of additional time on furnished finder @ 1,600/month. https://www.airbnb.com/rooms/6...

Full time gross income: ~233 days @ 141 ADR: $32,853/yr or $2,737/moth completely ignoring furnished finder revenue. -7% in taxes inside ADR yields results in $30,553/yr or $2,546/month

NOI: ~$506 month or ~6,072 year.

CoC Return: 9.32%

I just moved back to the USA and want to buy a property. The property will be my personal residence (VA loan requirements) but it will be a house hack as well. I am planning on getting 2 roommates to cover almost, if not all PITI. Interest rates are still high for me but I can use the VA loan assumption process to get the seller's existing, and likely very low interest rate of 3% or less. The largest problem with this route is I need to pay the seller's equity and appreciation amount over the existing loan. Given the amount of market appreciation, this can be $100k or more.

I have over 100K of non-retirement investments in mutual funds in a brokerage account that I wish to sell to pay for this 'down payment' on the loan assumption. The problem is I want to avoid getting murdered by capital gains taxes. Right now, for 2022 I am at a loss.

I am looking for insight of how to sell smartly between now and the end of the year as well as more in first few days of January to maximize my VA loan assumption and tax situation.

I should mention that it wasn't my offer. I didn't dig into any more as I am not in a position to quite invest quite yet. I am still doing a lot of market research to the north and south to see what is available and get a sense for the market. 

Property went from available to pending overnight so I figure it wouldn't hurt to post the deal here:

https://www.realtor.com/reales...

I do not think it is a 4/2 but a 3/2 based on the house size, which again would be normal for surrounding units. Description still insists on 4/2. No photos other than the outside. 

Hello! Newbie here looking to verify a sample deal. I don't actually intend to immediately action on this until I do MUCH more homework in the area. I am looking to remotely invest in rental property near Vero Beach, FL. I have visited there for two weeks on another business venture and at least know a few areas to avoid. There are several of the similar properties in the area I was looking so I ran a sample analysis:

4br / 2ba 1300 sqft SFH built in 95' / roof, exterior, grounds in good condition

List price: 150K (higher than surround units/comps on same street by 10-15%)

$10K in assumed repairs (yet to ask for interior photos)

$5K in closing costs

160k w/ 20% down + 4% interest rate is $572/mo

rentometer average is $1686 for 4br 1.5+, and about the same for 3br too.

Calculations below:

So, what am I doing wrong on analysis besides verifying interior condition? And yes, I am assuming lower rent, $10K in unverified repairs, and paying full price with zero concessions 

Hello Bigger Pockets community! My name is Nicholas and I am active duty Air Force Enlisted stationed in Germany. 

Just before COVID started I was looking into a better return and diversify my investments. At age 32, I have over $400K of investments with zero debt, but have yet not invested in anything outside of a Roth TSP, Roth IRA, and mutual funds. While I am told that this is very good for my age, I know I can do better. During a recent work trip I finished reading Rich Dad Poor Dad. I realized how much I was paying into the various landlord's pockets over the years and not used that money towards putting equity into a property I own and as well as create an asset for future rental.

Over the past year I listened to many of the podcasts and also recently read Long-Distance Real Estate Investing by David Greene. My job is to deal with IT and I already knew how to use many of the tools that were presented. I also already own a small LCC and LLC-equivalent in Germany, so that aspect is also largely not a problem.

My goal is to complete at least one remote real estate transaction (flip, rental, BRRRR, tax deed, etc.) by the end of the year using my on-hand cash. My long-term goal is to acquire at least one more asset every year for the next 5 years, and at least two after that. An optional goal is to acquire my first personal residence (under my name, not an LLC) if I move back to the USA, assuming the market makes sense.

Now, I just need to find a good market to start out in.