All Forum Posts by: Adriana Khdair

Hi everyone! I am looking for property managers in the Sunnyside area of Morgantown, West Virginia. Experience with student housing is a plus!  Thank you!

@Ika Sargeant 

I just did

Thanks Ika!

Good morning! I am looking for a CPA  who specializes in real estate.  I have a small portfolio but my next purchase will be a multifamily property. Familiarity with Virginia laws would be a plus.  If you have any recommendations please send them my way. Thank you and enjoy your day! 

Good morning!  Has anyone purchased the Infinity Investing 360 membership, that includes the real estate education program & events, as well as access to investing in their Alpine deals? I was wondering if anyone has direct experience with the benefits of this membership and if it is worth it. Thanks!

https://infinityinvesting.com/...

@David Fernandez

@Patti Robertson 

@Levi T.

Thank you so much for your answers. It gives me a good idea of what to do, taking into consideration current market conditions. Have a great rest of your day! 

Hi everyone! Do you increase the rent every year after a lease renewal? My tenant in Fredericksburg is renewing and I am not sure what is the average annual increase for rent in VA, since there is no rent control here. Thank you!

Quote from @Joe Hammel:

@Adriana Khdair

Love the market here.

Particularly in the suburbs. Not recommending getting burnt on the sub $50k deals.

The balance of price/roi/location is great. Soundly beating the 1% rule and cash flowing at a great price point.

While the rest of the nation is struggling to find good deals, we have plenty. Even with the lowest inventory our area has ever seen.

It’s arguably the perfect starter market to get your feet under you with solid routine deals and figure out your favorite strategy.

*Best advice*

Try one out, see how you like it. If you hate it, sell it, Prices are going up all year, wouldn’t be hard to sell it and pocket the $10k profit.

If you love it (which I think you will) then save up and buy another!

Don’t fret over the numbers on the first. You don’t know what you don’t know yet. The first one is buying an education with some cash flow, loan pay down, appreciation, and tax benefits, as the icing on the cake.

 Thanks Joe. I am actively looking at different suburbs of Detroit. The problem I am running into is that 1) I am not familiar with safety of certain areas. Realtors cannot advise on that and I am not sure how reliable certain websites are. This will have a direct impact on the type of tenant I get  2) Since there are many deals under 100K, buying 3 or 4 properties can become expensive as they each have to be tied to a separate loans, closing costs and higher interest rates because of the lower loan amounts.  What are your thoughts on this?  I am still very interested in exploring this market and I am confident I will find what I am looking for soon. 

Quote from @Gary Carver:

@Adriana Khdair. Detroit itself does still have deals here in the City.. If that’s where you want to invest. Is not too late.

 Thank you , Gary. I am finding really nice properties in the City but the price to rent ratio is not giving me cash flow, especially when you add in the super high HOAs. Any zip codes you recommend for a good balance of price/roi/location? Thanks!

Quote from @Drew Sygit:

You might want to follow the "Deep Dive" series we're doing on our BiggerPockets blog about Metro Detroit cities, City of Detroit Neighborhoods and comparing Metro Detroit to other hotspots investors usually consider:

https://www.biggerpockets.com/...

 Thank you Drew! I just subscribed to the blog. Great information! It will definitely help me narrow down my choices. 

Quote from @Joe Villeneuve:

Too early for appreciation, and too unstable for cash flow in Detroit itself.

Suburbs are great, depending on which ones...where within those "which ones".

You are right, Joe.  I believe I will focus on the suburbs.  The information I am finding about the suburbs points me towards different zip codes. I am not finding a trend across the board.   Some areas look better than others but I am concerned about the safety and the type of tenant,  among other factors. Any particular area you consider worth a deep dive?  Thanks!!