All Forum Posts by: Nikita Odnoralov

@Brett Deas I may be okay with a 2 month hold. Message me your contacts. Thanks!

Hey - I just got UC for a condo flip here in Denver. The purchase price is $176,000 and the ARV is $250,000 with several recent identical comps in the same complex. I need a hard money loan that will allow me to put less than 20% down. Closing is Feb. 27th.

I have a lender I work with often but they want 20% down and I'm trying to minimize cash out of pocket for this flip. Historically, I've done these for 3 weeks or less and plan to have it listed within a month. 

Any ideas? 

Hey Jordan. I bought a fixer upper 3 min walk from the water in Panama City Beach this year in March. It's on track to gross me over $70,000 this year and I started in March...I love the area. My place is 1,200 sq ft, has a backyard and is a 2 bed 2.5 bath townhome. I am an investor and also an agent in FL though I meander between CO and FL. I would love to help if you need to talk shop or ideas or whatever. I have learned so much. My place is a townhome on the east side, no HOA, and needed minor cosmetic repairs. I paid $333K and right now I'm seeing similar units dipping under $300k. So this winter will be a great time to jump in. I plan to buy another one or two in the PCB area myself this winter.

So this is out there but it's real...I am an RE investor. I have my RE license in FL. I have STR's (Airbnb's in vacation hotspots) and Long term rentals (1 or 3 year leases) under my belt in multiple states. I mix hiring out professional management with running my own properties. I also flip. I grew up in construction, and just flipped a 5 bedroom 3 bathroom house with only hiring out a plumber (main sewer line) and electrician (new panel) contractors.

I recently got an opportunity, with a certain "patriotic" major US airline, (can you guess?) to fly anywhere they fly in the world for free. For an unlimited amount of time. I'm serious. I can fly to US destinations or international ones for absolutely nothing.

I am going through a divorce which will soon be final and I will not have a primary residence. All my property is investments with tax and lease info to back it up. I will keep some of it after the divorce.

My question is this: if you were in my shoes, how would it change your investment strategy if the world was your oyster and you had construction skills and an RE license? 

Would you find properties in small towns in midwest America and buy them cheap and flip or rent?

Would you go all in on a tropical hot spot like the next international Airbnb vacation craze like Mykonos or some wine country town in France? (prob not!)

Would you focus on emerging vacation hot spots and set up Airbnb's in one specific area so it's easier to manage?

I've found STR's cash flow much better than long term rentals. So I'm leaning toward something with STR's. But, I'm so open at this point it's not even funny. Cheers...

Hey all - I hope I'm posting this in the right place this time.

I am looking to sell a SFH that was my long term rental investment in Sarasota FL. The home was built within the last few years, backs to a lake/pond, has a beautiful salt water heated pool and is a 4 bedroom 2 bathroom 2,300 sq ft money maker. It rented like a hot cake for $4,000 last August, and the tenant signed a 2 year lease, so they will stay till next August at least. The home is new and is well maintained by the same crew for a while now, pest, lawn, pool and property management. Tenant has been super easy as well with just 2 complaints about issues (a sprinkler head and a pool pump issue). I'm going through a divorce and have to sell it. I'd like to sell it fast and off market. I'm a licensed agent in FL. I got a few other agents to give me their numbers and after seeing comps in the area, it's clear the home's price is around $645,000 if I put it up on the market. However, I'd be okay working out a deal around $615,000 with the right investor. I have all the information ready if anyone is interested. The property management company found the tenant and are super responsive. They said if the home was to rent now, it would be no less than $4,500 because sarasota is so hot. The home is a 10 minute drive, no highways, to downtown and a 15 minute to the nearest beach.

Let me know if there is any interest. 

Personally I like taking money from expensive housing markets, typically a refi, and investing in others where there’s untapped potential, my dollar goes much further and has a bigger return. The goal being to wisely and profitably hold on to as much RE as possible. Example - taking equity from a property here in Denver (where I live a good amount of the time) and investing in high growth or high return pockets of FL. It has become increasingly popular with two of the top 3 hottest housing markets from across the country (Phoenix, Miami, Tampa)*.

I live in FL and CO, have my RE license and invest in RE full time. I've had great returns with STR's in Panama City Beach and long term rentals in Sarasota/ Tampa areas (currently I have one tenant who signed a 2 year lease on a simple 4/2 SF home in Sarasota for over $4,000 a month…I bought the house nearly brand new for a tad over $400,000.)

I’m currently hunting for more markets where cash flow is even sweeter. Pockets of FL are starting to feel closer to CO prices. 

Let me know if I can help in anyway. 

* Source:
https://money.com/cities-home-...

I just closed on a condo downtown Denver that I was going to flip. Bought it as a quick flip BUT I've fallen in love. I want to keep it!

However, I don't want to sink 20% for an investment property right now. The good news is I bought it about $60K below market value.

What suggestions could you give me in terms of a 5% or 10% down investment loan product? I know this is a tough ask...I've heard it a hundred times - "most lenders will not do less than 20% for investment props." I get it. I'm probably not looking for "most lenders" I'm looking for a private group or some other product with a higher rate or something creative... I'm open to ideas and non-conventional loans. For example, a higher interest rate for a lower down payment...a ARM loan or something of the sort...I have excellent credit (upper 700's) and have done many fix and flips in my portfolio and also own a few homes which are either short term rentals or have long term tenants in place. Would love some ideas on creative financing. Thanks!

The property failed inspection due to a ton of mold and water damage. We are back on the hunt. The Neigbor showed me his VRBO, he did over $72,000 two blocks from the beach. He does not have a water view and has the same exact 2,000 square ft unit. I suppose it possible!

Hello. I'm looking at a Townhome that is 3 bed 3 bath, 2,000 sq ft, 2 kitchens on two different floors, peekaboo views of the ocean and is less than 1,000 ft from the water. The city is revitalizing the street with a new expanded and beautified road (palm trees, lights ect), and several old buildings are coming down and being replaced with new shops/restaurants. We've always wanted to live in FL and my goal is to live in the home as a primary residence as our family grows and then do STR in the future. My questions for those with PCB properties near the water:

1. AirDNA estimates my gross will be around $82k but Airbnb says a night rate of $180 is avg. (seems low for 2k sq ft w two kitchens) what have you found to be your gross for STR?

2. What advice would you give someone with no STR experience in this specific area?

3. In terms of remodel, what are the biggest pay offs if the target customer is multiple family clients, or clients with several children? 

@William Beck HOA's in PCB are variant just like everywhere else. Some of the large condo buildings with fancy pools and luxuries have HOA's easily into the $800-1,000 + a month. I found a great 3 bed, 3 bath townhome with a pool that is less than 1,000 ft from the water with an HOA of $175 a month. However exterior maintenance is treated like a SFH.