All Forum Posts by: Alex Winfield

Great Job Matt! Now that you've got your feet wet what are you thinking for your next move or strategy? 

Alex 

Come learn about Hard Money lending from one of the biggest Hard Money lenders in Virginia, Maryland, and DC! John will be online to talk about his business, any changes they've made, and why they're business model is still running. You'll be able to ask questions on the Facebook page and he'll answer them! 

For more info go here: 

https://mailchi.mp/4284fa2bf09c/hopportunity-april-2020

Interested in learning from one of the biggest Hard Money lenders in Virginia? Well then join us Tuesday, April 28, at 8pm for our Hopportunity Meeting with John Eubank, Commercial Lending, LLC!

We'll be live on Hopportunity's Facebook page (Hop-portunity Investing) for you to listen in and ask questions!

And don't forget to bring your beer!

Seems to be the case with most of the "special" VA products that they are now on hold until further notice. That is the word around the watercooler that I am seeing. I know the VA rehab loan for one of my top lenders is on hold as well.

Hey Miles, 
Welcome to BP and to the 757!  I love to hear you're looking to doing some House Hacking in the area.  I think you will find a lot of options in the Hampton area or Norfolk.  Just a heads up that if you going to be working in Hampton and don't want to fight some pretty serious Tunnell traffic you are probably going to want to Live and work on the same side of the Hampton Roads Bridge Tunnell (HRBT).  If nothing else hopefully that will help you tighten up your search a bit. 

Good luck!
Alex   

It's almost time for the second part in our series on wholesaling! Join us February 25th at Bold Mariner to learn how to vet deals from Shawn Bowen! 

https://bit.ly/2OhgRhG

Don't expect anyone to inform you of problems with the house.  Sometimes they do, but always ask them and always get a home inspection.  Make sure the inspector and termite moisture inspector both crawl the full crawl space.  

It is definitely possible to buy within a flood zone "if it is not actually going to flood". If the property is in a flood zone, but the house first floor and any mechanical devices are above the right elevation, you can significantly lower your flood insurance to a rate that could be very reasonable.  But, if your looking to simplify and play it safe and don't know the area very well you might want to just focus on non-flood zone areas.  When I work with clients in areas that I know very well and are also in flood zones I will have a basic search with no flood zones included if possible, and then another one with flood zones that I don't share with the client.  If a property pops up in my search in a flood zone that I think is not actually going to flood and the numbers look right I will look further into it.  For your sanity, I would say to focus outside of flood zones if at all possible.  At the end of the day, a flooded house will uproot your life and your tenants and not to mention kill any profit on your investment.   

Alex 

Want to learn how to leverage other people's money and keep cash in your pocket? The BRRRR method may be for you! Join us on January 28th at Smartmouth Brewing in Virginia Beach to learn how to build your own Real Estate Empire.
https://mailchi.mp/bbed9dbfdf0f/hopportunity-january-2020

Hey Josh, welcome to Hampton Roads/ 757!  The main things you want to look for or avoid in the area, in my opinion, is going to be Flood Zones, moisture issues in the crawl space (it's very humid), and maybe knob and tube wiring if it was built before the 1940s.  All of those things can be dealt with, but I would say those are the key things that seem to be deal-breakers for most of my clients as they can have major expected and unexpected financial implications.  If you're going to keep it simple to start with, maybe look at homes 1940's or later, stay out of flood zones, and always get a good home inspection.  Other than that it really just depends on how much money makes sense to spend in order to make it a profitable asset.  

Have a good one! 
Alex