All Forum Posts by: Eric Giovannucci
Eric Giovannucci has started 33 posts and replied 161 times.
Post: New investor and BiggerPockets community member!
- Investor
- Boise, ID
- Posts 171
- Votes 98
Quote from @Bryce Henson:
Hey all, I'm new to the forum but have been listening to BiggerPockets podcast for quite a while now. I have one investment property, and work in the construction industry as a certified Journeyman electrician in both Washington and Idaho, with a strong background in residential work. I would love to grow my investment portfolio and look forward to learning from and meeting more of you!
Hey! If you ever make your way down to the treasure valley and need work, we can always use another electrician!
Post: ANY STR FRIENDLY AREAS?
- Investor
- Boise, ID
- Posts 171
- Votes 98
Anchorage, Alaska
Probably the least tapped market going!
Post: LOOKING FOR A NEW MARKET
- Investor
- Boise, ID
- Posts 171
- Votes 98
Quote from @Brian G.:
@Eric Giovannucci what annual revenue to price ratio is achievable in Anchorage currently?
Depending on the property, you are looking at a 10-15 cap rate or price-to-rent ratio of around 6.
A 500k-800k purchase price with annual revenue between 75k-120k. I advised my clients and utilize this method myself:
4 unit Multifamily with mixed-use two units LTR, two units STR.
Average 2/1 900sqft LTR: 1450 month STR 100-140 a night depending on location.
Average Cost to furnish: 5-7.5k
Give me a shout if you want to talk more specifically.
Post: LOOKING FOR A NEW MARKET
- Investor
- Boise, ID
- Posts 171
- Votes 98
Quote from @Lain McCanless:
Hey guys! I have some 1031 Funds that I need to do something with in the next 40 days. We are used to investing in the midwest. We are looking for something in the 250K-600K range for Short Term Rental income with great property managers. If you can provide me with your take on some great markets or even properties you have passed on, let me know!
Hey Lain,
I highly recommend two options: Anchorage, Alaska, and The Treasure Valley/Submarkets/Vacation markets to the valley (Mccall, Cascade, etc).
I run STRs in Alaska and have had a 95% occupancy rate year-round, and look at about 120-140 a door for small condos (conversation pricing) , let me know if I can help you with either as my team is licensed in both areas!
Post: Single-family residence buy & hold investment in Caldwell.
- Investor
- Boise, ID
- Posts 171
- Votes 98
Awesome find! When did you close on this deal?
Post: BRRRR in Caldwell Idaho
- Investor
- Boise, ID
- Posts 171
- Votes 98
Man, I sure do love me some Stuenenburg District in Caldwell, Nice job @Corby Goade
Post: Hello from Boise Idaho!
- Investor
- Boise, ID
- Posts 171
- Votes 98
IDAHO!
Treasure Valley is home to some awesome agents and investors, don't be a stranger!
Post: Looking to schedule a few meetings in Boise, March 24-28
- Investor
- Boise, ID
- Posts 171
- Votes 98
Sounds like your trip is coming up soon! Let me know if you want to get together, would love to share some knowledge on the area!
Post: Connecting with Rehab and Fix N Flippers
- Investor
- Boise, ID
- Posts 171
- Votes 98
Hey Craig,
Where in Idaho are you referencing? I invest in the Treasure Valley, would love to connect.
Post: How do I invest in the Boise market
- Investor
- Boise, ID
- Posts 171
- Votes 98
Hey Danielle!
I totally get how hard it can be to start out in an expensive market, I started out in California about a decade ago, and am now an investor and agent here in the Boise market. Wholesaling/Finding deals will always bring money, if you have a deal, someone will buy it.
House hacking has become even easier nowadays with low down conventional loans (3.5%), or IHFA, FHA, etc. If you want to come to a meetup or grab a coffee and chat and see if there is anything I can help you with id be more than happy to!