BP Newbee from the Colonial Capital

[Bob Oliver]

Hello to the BP Community. I am a newbie to the forum and very excited about and interested in what I have read, as I can see there is a lot of experience out there that I know I can benefit from. I am a REI, civil engineer and Broker in Williamsburg, VA. I got interested in real estate and RE investing through my Mother who helped raise 3 sons with the extra income from having rentals and putting us on renovations from about the age of 9. She was a high-end interior designer with 3 built-in installers, so I saw all types of houses and grew to appreciate their value. I bought my first SFD in '87 and now have 7 units near the college of W&M. It is a good niche for me that offers zero vacancies, about standard maintenance and until recently, excellent appreciation. I don't have to rent to what I call 'professional tenants', there are no evictions, and rent is almost guaranteed by the parents because they want their precious to have a house.
I came to join BP because the RE development company I am currently employed by is terminating the 401k plan and I am taking control of my 401k funds through a solo401k. My fund assets will be distributed in mid-January and I am looking at breaking out of my comfort zone by possibly investing out of my market in good cash flow rental areas, or learning about wholesaling or investing in promissories, mortgages or D/T.
That is me in a nutshell on Christmas day. I look forward to working with all the talent I see on this forum and learning a great deal along the way. Any insight into some of the opportunities I have described will be appreciated.

[Champak Shah]

Welcome to BP-- Instead of Rental houses --stay with students --Single Family home -rented to three or four students --will be more profitable and will have better positive cash flow then SFR --being Close to campus-you can even have bunk beds and have six or more students in one house --with a common kitchen and living room --give them a nice 42" or 50" TV and cable connections--free interenet --etc
summer may be vacant --so charge rent for 9 months and keep cash reserve for summer month's mortgage payments --
How much money do you have in 401K ? Instead of solo 401k-- you can roll over into separate IRA and use funds to buy- renovate -sell and keep all profits tax free insie IRA --

I am also a Retired Civil Engineer --

Good luck.

Champak Shah - Atlanta