All Forum Posts by: Almateen Yazid

Va Beach isn't a bad market. Just understand in VABeach, because of the asset price vs. rental yield... your profit may be a little lower. However, in the RIGHT area of VABeach, it can provide good stability! Hard to find good multifamily in the Hampton roads area.. especially in VA beach. All those who have gold mine multifam, are not selling the "golden gooses!" Those that are selling, be sure to do your due-diligence. Many selling in Norfolk- Ocean view, are in terrible flood zones! It wouldn't hurt to seek an agent who is also an investor! If you want gems... ask a gemologist!

Moments- Don't be a "Sitting Duck."

UPDATE.....

Went with the Town house in Chesapeake.  Couldn't be more happier with that decision! Took about 1 month to rehab and rent. Another stream towards financial freedom!  The gift that keeps on giving!

ATTENTION...

Those on the sidelines and not in the game.... sometimes NOT taking a RISK is MORE riskier than doing NOTHING at all!  In these turbulent and uncertain economic times... Don't be a "sitting duck!"  One thing YOU can DEPEND upon.... is YOU!  The IN-dual-vi-dual! IN-Formation in itself, should lead to the FORMATION of things and the experience thereof.  It's no accident it's called "REAL"-Estate!  It's real and tangible! The workshop of the mind and the extension of the hands.  MOVEMENTS!

Yes you are correct! Rhetorical. Forgot to mention no .... HOA fees. Yes. It is a really good neighborhood. Such a great area everyone is responsible and keeps their property looking great! Going to ratify the contract tomorrow. Thanks.

Interested in some investment properties in Ches. VA. Let me know. Ready to close on a great deal!

Greetings everyone. I am a buy n hold investor in Hampton rds. VA. Been doing this for a while however, I am torn between buying a town home or a Single Fam. Residence (SFR.) This will be my 11th purchase and I have a great cash flowing portfolio! . By now it shouldn't be this hard to decide. The numbers and facts say it all. Not really looking into equity but cash flow. Don't get me wrong. When and if it comes time to refi, that is EVERYTHING to expand my portfolio. The LTV's must be there.

The town home is located in a great school system in Chesapeake, established community, excellent demographics... (employment, income, etc...) close to all the shops, movies, etc... You get the picture. According to my calculations, after 20% down and PITI my raw cashflow will be $750.00 monthly! Wow! Great right? About a 30 % ROI for me.... ALL IN! Property needs about 4k in finishes. Very light work compared to what I've done in the past. But... it's a town home. Which segue's into my next property.

Property two. Located in a transitional area in Portsmouth. Up and coming. Near the Naval Hospital. Newly built and leased out apartment building (and I mean brand new) up and running. Spoke to int developer and they dumped 9 mill into it. Building 2 other building as I type. Typical rents in Appt building $1000- 1700 (2 bed-rooms- WOW!) Now for the contrast... Below average school systems! Lower suppressed SFR in the same zip code. Polar opposite demographics. More public assistance and Sec 8 housing. Much more renters compared to the Townhouse- mostly home owners. I've invested in this area before and still profited! All day long! It is not a bad area. I would live in any of my properties with no issues! The sub. property is a Single fam home- and... TURNKEY! Excellent rehab! TURNKEY! Tired of renovating homes! Serious "yield play!" The exciting thing is... I can cash flow around $650 monthly and my ROI is still great, around 28%! I'm in on both at 20% down. House appraisals in this area are a little suppressed.

I already have a couple of town houses that cash flow ok. I guess I'm just partial to SFH. Again... I understand Cash-flow is King and I can afford to be a little more selective about where I want to invest and the townhouse is in one of those areas.

Either Deal would work.  Just can't get both at this time.

Any input?

Thanks!

What is the property worth? Are they behind in payments (arrears)?  Any liens on property? What is the interest rate? 2007??? Granted ALL REAL ESTATE IS LOCAL but, That was one of the worst times to purchase! HYPERINFLATION AND OVER APPRAISED HOUSES! 

The rent will not cover the note??  You did say "Class C" neighborhood?" and needing some work?

Lot's to consider.

I've done several "Sub-2" deals. One would basically deed the property over to you, you would take over the payments (be sure to MAKE THE PAYMENTS!!!), then re position (delayed-refi-flip-seller financing, etc...) the asset at some latter date.  You have to have an EXIT! Those figures don't have much of a spread! 2007....??? What is the interest rate? 

Word of advice... THIS IS BUSINESS! I would detach your feelings and friend"ship" and make sure it is a deal for you!  A "Ship" is supposed to take you in a direction and to a destination.  I think you may be headed to a place you don't want to be.  Sounds like her shortcoming will become your crisis!

If I were to consider this deal, I would secure it, do a wrap around with "seller financing" to a potential buyer, hold on to it and cash out at a latter date.

Try to deal with a local lender!! Get your portfolio tight and in order and shop around. B2R, DWELL, etc... what's next??  Who will they morph into next? Too new, too many changes, too much confusion!  Started the process but, didn't take the bait! Got another "shelf loan" with my local community bank. If this is a reflection of them now, what happens after the term is up and the loan/asset needs to be re-positioned by them?