All Forum Posts by: Nick DePrizio

Hey all thanks for the feedback. We'd be looking for either SFR, or even multi although I hear it's rare. Feeling out summerlin or Henderson as mentioned. Have experienced Henderson a lot. Urban, no pool. Can be condos too. Potentially looking for <300k type of property. What type of cap rates are people seeing out there?

Anyone experience Airbnb? My wife n I travel extensively so one of the other reason to leave SF. We are never there but pay the cost of living. Potentially makes the multi family house hack attractive if possible or finding a turnkey that is Airbnb friendly. 

@Marty True what brought you to Vegas- market opportunity?

Hey BP community, 

Just another Coastal tech guy leaving the industry for greener/cheaper more sustainable pastures. Any recommendations on content to help educate myself on neighborhoods where investors in this community are buying for investments and thier own living. Have really enjoyed Vegas in past trips (non strip) and my wife and I are considering it as our next hub. 

@Gabe C., who did you use in San Francisco?

@Matt Homsy any names you an recommend from conversations with lawyer?

I have property in MA and other private placement investments and more coming that I want to explore getting wrapped into an LLC potentially.

Great.

@Bob Green. Hey Bob. Yes, however we received and filled out the questionnaire after the appraisal.

so learning lesson for me. Went to refi my condo that's rented out to tenants and had a solid rate and was going to CF an extra 175 a month with the new rate. The bank the lender went through denied the loan because it was non warrantable with 2 of the 3 units in the building being rented. Wouldn't be a problem, but already had to pay $500 plus for an appraisal and the time and effort filling out paperwork. This could have been avoided if either I knew about this limitation or if the lender just asked that question about the condo at the beginning.... I am wondering what recourse or approach I should take with the lender around recouping the appraisal expense as this professional should have had the insight to ask us that question no?

@Charlie Fitzgerald, thanks for the input. All valid thinking points. This isnt an RE deal- but I am sure the principles are the same. The equity partner is coming in for 49% of the company. The money is for AP from front running capacity in advance of the close. They company can easily go to a bank- but if I can profit off it If you had a high degree of confidence the deal would close- to the question- what terms would excite you for a 2 month period?

I have the opportunity to help finance a short term funding need for an investment I am an equity owner in. There is a 12M funding coming in w/ new equity partners in 2 months which pays off all outstanding debt. 

The company needs to borrow 100K for 2 months and came to inside investors before it goes to the bank which wants 5.5%,  1.5% upfront financing fees, borrower pay all lawyer fees/admin fees etc.

I was wondering what terms would people offer?

I was thinking bullet payment of 5K and if not paid by due date 10.5% annual paid monthly after the 2 month period?

This isn't my plan.... but if you were to quit your corporate job and wanted to pick a real job in the RE space while building your knowledge base and looking for deals/building your network, which job would you recommend and why(agent, appraiser, mortgage broker, construction, other?) Should be a lively conversation.

@Susie C.,

What type of rates are you guys looking for/seeing in the bay area? I'm looking at deals and even places I think are nicely priced make no sense from a cap/coc perspective?

For instance- this just came on 

http://www.trulia.com/property/3223616291-1701-Jac...

623k- assuming I am renting for 4k which might be conservative and 5% vacancy, estimates on expenses still puts my rates between 5-7%. 

Thanks- happy hunting- looking forward to learning the bay area better- been here for two years but just starting to contemplate buying REI here, I own a property across the country in Boston.