All Forum Posts by: Nicolae Iovu

@Jay Hinrichs I know it’s kinda disturbing knowing how fast the value of a new construction can go down. But yet with the market of today if I buy a house to rehab it in that area it would actually cost me more than to build a new construction. It’s like a trap and that’s why I’m having a hard time getting the numbers to make sense.

Thank you for writing.

Nicolae

@Mike Wood I will definitely double check with the zoning in St Bernard since once I was told that they have not changed anything and it’s ok to build for rentals. But with them you never know how fast laws can change.

Also about the rent rates I got comps for regular 1,200 sqft house in that area no less than $1,200-$1,300/month.

In what area you have your units in Nee Orleans and what rates do you get?

Thank you

Nicolae

@Mike Wood Thank you for writing.

The lots I’m looking at are in Arabi/Chalmette and it’s around good schools, that’s why I’m looking in that area. New constructions comps go for $130-$140/sq max in that area.

I’ll do more research to make sure the market is still in that range.

Thank you for your time.

Nicolae

@Marty Friedemann I thought about that but I guess I’m too scared since I’m new in this. I know I can build houses on low cost and at no fee for me but How would I put a deal like that on the paper for example for an investor to go in with me?

Thank you so much for your time!

Nicolae

@Marty Friedemann Thank you so much for writing and you have a great point about being conservative with the deal to make sense today. I will definitely stay with this approach to make sure I won’t get burned.

Also about leverage, you mean if I’ll work with a bank maybe ?

Thank you again 🙏🏻

Nicolae

Hi everyone,

I’m trying to invest in real estate and I’m not sure if the plan is a good idea, and I need your help.

I want to invest in new constructions SFH and put them for rent. I'm a new General Contractor and built 2 houses so far. The scenario will look like this:

Land: $25,000

Build a 1,200-1,300sqft house : $115,000(3bed2bath)

Total :$140,000

Rent in the area I want to build $1,400

PM : 10%

How would I analyze I deal like that considering building 5 SFH's with all cash?

I’m inexperienced about how the yearly appreciation works on real estate so I can’t get to the right numbers when analyzing a deal like that.

If any of you had such situation to deal with please tell me your experience or opinion.

Thank you in advance for your time.

Nicolae

@Braden Smith

I started to look into the webs you sent me here and I already like what I see. Thank you so much for your time to write that. Great info!

@James Martin

Thank you for this information and for taking the time to write in here. I haven’t seen these signs but I will definitely look into it.

Thank you again.

Hello BP family. I'm new to REI and I've been reading a lot of posts here and a lot of success stories. I'm very impressed and also motivated along with all of you.

I’m also looking for commercial brokers in New Orleans area, if anybody could advice me of what websites I can start looking for, or any information and recommendations will be greatly appreciated!

Thank you in advance.

@Joshua Watts this is just an amazing move you made!

I've been looking at self storage facilities and i know this is and will be one of the most recession proof investments.

Good idea about working part time to get to understand more about the inside of this business.

Would you be able to tell me what are the most important requirements to maintain a facility like that?

Meaning monthly/daily/weekly check up or you hire somebody for that ?

Thank you for your time.

And congrats again.