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Updated over 14 years ago on . Most recent reply

User Stats

12
Posts
1
Votes
Ryan O.
  • Real Estate Investor
  • Alexandria, VA
1
Votes |
12
Posts

Greeting from Northern VA ....and could I please get some advice?

Ryan O.
  • Real Estate Investor
  • Alexandria, VA
Posted

Hi Everyone,

I just wanted to introduce myself and potentially get some quick advice. My name is Ryan and I currently live in Alexandria, VA. I haven't been on BP for too long but I think this site is an amazing source of information. Currently I have three properties (two are rental properties -condo in Hawaii and coop in Bronx - third is my condo in Alexandria, VA - that I am renovating and living in). I am attempting to refinance my Hawaii condo, which is a leasehold property, and buy the fee of the lease (98K). To make a long, drawn-out story short, my goal is to get my Hawaii property squared away by turning it into a fee simple property (this is where I need advice -- on financing a lease fee which I find to be a very obscure real estate expense) and then begin my investment focus on flipping in the VA, DC, MD area. I am debating on selling my Bronx co-op and/or VA condo in order to use the money towards payment of the fee, as well as freeing up cash for investing. I am not sure what my best options might be. I appreciate any and all advice. In addition, I look forward to building relationships and networking on here as much as possible. If anyone in the VA, DC, MD area want to connect, please feel free. Thanks.

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