All Forum Posts by: Pavlos Kasselouris

Thanks guys. Its not that I put a ton of upgrades...very basic, but I feel that for the area and price point its sufficient to stand out. 

 Yeah...some areas around there attract bad tenants. You could try prospecting to the students, but generally I dont think it will get any better there. 

 Yes Fay!

Daytona is a completely different market from Port Orange. Where in Daytona? The other property I own is in the same subdivision with this one. Obv its too early to say about my tenants but till now they are great, as I am towards them.

This was my first ever deal, and I did a lot of the work myself. I lived in it until Sept 2014.

3/2  1200 sqft

Currently I rent it out for 1300$, property taxes about $2000, insurance $750,  tenant pays utilities.

Short sale purchase price $70,100.00

Rehab cost $30,000.00 ( 22,000.00 initially, the rest over the course of the one year)

ARV $130,000.00

I will either refinance to move on the next acquisition, or will exchange it for an apartment building later.

I would appreciate your thoughts.

Thank you!

Thank you everyone! See you soon in the forums

Hi everyone! My name is Pavlos, and I'm a Project Engineer, currently working for a mechanical contractor. I came from Greece a couple years ago. Before I set foot here I knew that REI was something that I wanted to pursue.

I bought my first property in Port Orange FL ( a short sale which I put a lot of work in), which I used for primary residence until I moved to Miami for work. Now its an investment, which essentially pays my rent, and about a year ago I bought with a partner another property in the same area with a personal loan from him which we rent out also. We decided that we do a good team so we are preparing to acquire another one this summer, with the goal to expand as quick as possible but at the same time not get over-leveraged.

Slowly I have built my credit which started to open new opportunities for financing, so now I need to study even more, and BP looks like the best way to do this besides reading books.

At the same time I got a real estate license in order to learn the business, the procedures and the market which I buy my properties. (and the 3% discount isn't bad to do few repairs;) Actually I practiced RE for about a year, having a few closings, but not that much to support my self. It was a good school for a newly arrived individual like myself.

I hope I meet a lot of same minded people, and connect with different professionals.