All Forum Posts by: Walter Ciucevich

@Jeshua Patrick @Jeshua Patrick I’m very con servative when it comes to number crunching on a property and property selection. I’m a lot more aggressive and less conservative when it comes to taking action. It depends on how passionate and convicted you are. I didn’t have the cash to start when I got into real estate investing last year, but I had good credit and an existing business so I got a $200,000 crowdfunding business loan at 17% interest amortized over 5 years with a whopping $4800 a month payment. That sounds crazy but my idea was if I could acquire two houses a month I could outrun that payment and still make a profit I’d be ok. Most people wouldn’t do that, but we are on house 10 in 9 months (not 2 a month like i had hoped) and we’ve outrun it thus far and profited on every deal. If you’re passionate and willing to go all in, go for it! You could ask your accountant if taking that hit in taxes would help take care of some potential capital gains taxes. Also another thought would be to not have them withhold taxes and defer that so you can use all that money for the next 8 months.

I'm pretty well versed at calculating rent, but i didn't think appraisers just used a NOI and cap rate on smaller properties. Do they use comps, noi and cap rate and another method and just average them?

I'm now on my 9th property and up until this point they're all single family homes. I know people speak against it, but I use Zillow to search recently sold comps to help me determine an ARV on these homes and have been for the most part spot on, because I am conservative.

I want to move into small multi-family, 2-8 unite. I can't find comps as easily and I'm not sure if that's the way to go anyways. My question is what is your process for determining ARV on multi-family Properties?

that may work - is there an ability to get extra cash out of the value is there? 

We have two under contract right now closing next week

I just purchased two properties to complete a BRRRR on. Here's the details of them:

Property 1 -

Purchase price $30,500

Closing Costs $1,500

Renovation - $23,000

Insurance - $500

Total cash outlay - $55,500 (purchase and rehab all done cash)

ARV $85,000

Rent - $950/month traditional - considering Air BNB - projections $1,800 a month

Property 2

Purchase price - $36,000

closing costs - $1,500

Renovation - $25,000

Insurance - $500

Total Cash Outlay - $63,000

ARV - $110,000

Rent - $975 traditional - Considering Air BNB - Projections $1,900/month

I am looking to cash out refinance 31 days after we close. We close on 7/26. We'll have the renovation completely done in 3 weeks. I'm not looking for anyone with longer seasoning requirements.

We purchased each property cash and all of the items above are going to be listed on the HUD and payed out at closing.

Please let me know if you are a broker or know a broker who can help place these loans.

can you send pictures to [email protected]?

I’m trying to start BRRRRing properties and have found a lender I can cash out refi after 30 days, but it’s at 7%.

I’m purchasing and rehabbing all cash, so this is decent, but a better rate is available with much less fees at a bank.

I can rate and term at a bank right away, but I can’t get my rehab money back out.

If i am purchasing a property for 35k and it needs 25k in rehab, could I write up the deal as a 60k purchase with 25k coming back to me at closing. The purchase price would then be 60k and I could rate and term right away?

Is this possible or is there regulation against it?

I'm an investor in Sanford, North Carolina. I currently have 250k cash and am using it to do a flip per month or two using hard money as well as purchase rentals cash using the BRRRR strategy. We can typically close in 10 days or less and can make decisions very quickly.

I am looking for:

1-4 family houses

ARV 75k-250k

Vacant

3+ Bed 2+ Bath 

Whether you have something now, or may in the future, I’d love to hear about it. I’d like to meet wholesalers in the area who can help provide me with fresh deals.

Please send details and pictures to [email protected] . All cash buyer.

could you send me the pictures and other relevant information? [email protected]