Professor Ulivi has decades of experience investing, and managing, in real estate. He does not sell nor manage real estate for others, but he can help you evaluate purchases, prepare cash flow projections, and profitability analysis. Here’s a brief overview of his experience:
- 1974. He bought his first condo in Buenos Aires, Argentina. It was small, about 300 ft., and his first purchase. He put 40% down and financed the balance at 60% per year. Yes, 60%. In a few months, Argentina’s currency devalued dramatically, he got fed up with living there and returned to the U.S. He paid off the balance of his loan and sold the property in 1979 for a 600% gain on his investment.
- 1979. He bought a house in Sacramento, CA for $79,000. As down payment he used the money from the sale of his condo in Argentina and took a 12.5% loan for the balance. He sold the house nine months later for a 37% return on his down payment. He sold the house without a real estate agent, holding nearly daily open houses.
- 1980. Bought his first fixer-upper house in Orange, Orange County for $100,000. He took out a loan from Security Pacific Bank at 12% and sold the house in 1985 for a gain of 200% on his original investment.
- 1985. Bought his current residence for $255,000 and took a 15 year loan at 12.5%. He still lives there, although his current mortgage is at 3.5%! Why is his house not paid off? Because he used it as a piggy bank to fund his next four acquisitions.
- 1988. Bought two old houses in Old Towne, Orange and remodeled them, added a new unit and converted all to office space. He acted as his own contractor. He used 100% leverage to finance the purchase and remodeling. He still owns these offices, and has no mortgage on them.
- 1998. Refinanced his residence once again, took out new money and used it to buy a four unit apartment building and two houses in Orange. He used 100% leverage in these transactions and still owns the properties. They all provide positive cash flow.
- 2002. Refinanced some properties and used the proceeds to buy an apartment in Buenos Aires, Argentina.
- 2003. Remodeled this residence. Did extensive work to it and acted as his own contractor.
- 2013. Refinanced all loans to take advantage of historically low interest rates, pulled some money out and totally remodeled the apartment in Argentina, which he is now using as a vacation home. For the first time, he used a general contractor for the remodeling project in Argentina.
In sum, Professor Ulivi understands real estate as an investment. In addition, he has been teaching that subject for years at the university. If you need advice in this area, he can be a valuable resource.
