All Forum Posts by: Tony Sepassi
Tony Sepassi has started 16 posts and replied 78 times.
Post: Financial Independence Happy Hour
- Investor
- Reston, VA
- Posts 85
- Votes 6
In the past I have looked into joining groups but like you said they ask for a fee to join or each visit you pay an entry. To me it’s seems like just another way to make $$$ then they try to upsell you with more BS so I stopped looking.
If you organize one I would be interested and im sure others would be too.
Post: Create a separate front entrance to the Basement in DC home
- Investor
- Reston, VA
- Posts 85
- Votes 6
@Bob Fu I don’t have a company. I do flips so when I was looking to had a front entrance from the basement it was quoted that much.
Post: Create a separate front entrance to the Basement in DC home
- Investor
- Reston, VA
- Posts 85
- Votes 6
I was going to do it for a rehab I was going. It will probably cost around 15k with all the permits and labor
Post: The next 6 to 12 months??
- Investor
- Reston, VA
- Posts 85
- Votes 6
https://www.youtube.com/watch?...This morning I opened YouTube and I saw this on my feed. This video is very informative and he’s saying exactly what we are thinking.
Post: The next 6 to 12 months??
- Investor
- Reston, VA
- Posts 85
- Votes 6
You have a point putting money in the bank is useless. But I have a feeling 6 months from now or next year this time we will see huge opportunities in the real estate markets. I wouldn’t invest in commercial real estates , specially office buildings now that working from home is becoming the norm due to the Covid 19.
Post: The next 6 to 12 months??
- Investor
- Reston, VA
- Posts 85
- Votes 6
I been stuck if I should but rentals now and stop flipping but like you guys mentioned we don’t know if the tenants will pay their rents so that’s the risk with rental properties. Now if I go buy another property to flip , first I need to find a very good deal and I haven’t seen any lately.
So the old saying goes “cash is king” until we get out of this uncharted waters
Post: The next 6 to 12 months??
- Investor
- Reston, VA
- Posts 85
- Votes 6
I agree with Jason on waiting until Q1 2021 possibly Q2. I think we are going to see a huge crash soon. Maybe after election but for now the Feds will keep printing $$$ and pumping it into the market to keep it going.
It took 6 months before we saw the effect of the 2008 crash. The same will happen I think and Rocco is right it’s usually every 8 to 10 years we see the crash but we are in the 12th year and so the crash could be bigger.
I guess for now I will just keep saving so when the time comes I will have cash to buy.
Post: The next 6 to 12 months??
- Investor
- Reston, VA
- Posts 85
- Votes 6
Hi Guys,
I have done 4 flips the last 3 years the last one was bad. The contractor was a sob to say the least but lesson learned.
I been thinking if I should buy another flip or are people waiting for the next 6 months before the stock market crashes? I mean the feds been injecting money into it and also the 40 million that are without jobs will soon have to pay their mortgages and probably won’t be able too.
What are you thoughts ??
Post: a 5 apartment building
- Investor
- Reston, VA
- Posts 85
- Votes 6
Originally posted by @Evan Polaski:
@Tony Sepassi As mentioned, typically when you see people doing deal after deal in quick succession it is because they have a lot of cash socked away ready to deploy, not because they found some super rockstar deal that allowed them enough cash flow to save for the next one that quickly, although there are some great deals out there.
As mentioned, my preference on deals are the value add deals where you may buy at a 5-6% cap rate (although that is very thin for anything that can't support on site, full time manager/maintenance personnel), but have the opportunity to raise rents and receive a 30% ROI on unit renovations, so typically 150-200/mo per unit.
Most people going after 3-10 unit buildings do not seem to know the first thing about underwriting, or could care less about their return on investment. I am seeing people pay 275k for dilapidated 4 families with 50k deferred maintenance renting for 625/mo/unit and LL responsible heat and water.
What you posted makes a lot of sense. Going back to the drawing board :-)
Post: a 5 apartment building
- Investor
- Reston, VA
- Posts 85
- Votes 6
Originally posted by @Alex Olson:
@Tony Sepassi The only thing I would consider is appreciation. Is it going to appreciate at 10% a year? Are rents going up a lot? Are they under rented? Cap rate and current cash flow is only part of the deal. If you do your own underwriting, I am sure you know this, but I would input market rents vs actual to see if there is any upside. And, look at appreciation rates. I know I am late to this but hope it helps.
Thank you for the advise. I don’t see much appreciation in the area. Decided it wasn’t really a good deal.