All Forum Posts by: Andria Kobylinski

Can anyone help with some Note Investion 101? I’ve been reading and listening though I feel like there are not a WHOLE lot of resources out there. 

Step 1: I have identified a performing note that looks interesting over on LoanMLS.

Selling Price: $41,660

Loan Interest Rate: 9%

LTV: 46.8%

Payment: $1,000

Loan Balance: $78,600

Property Value: $89,000

What is Step 2? I'm guessing I need to pull some comps and get an idea of property condition, ARV? What else?

I know ...there’s a lot more. So a good next step or resources would be much appreciated!

Does this house require flood insurance @Charles Pearson

Is it available to preview? I am an agent @Brett Alphin

Has it been rented? Is it currently occupied? @Brett Alphin

I have looked at/analyzed hundreds of deals in the Richmond, Va market but have not found much of anything that will cashflow even $100 per month. I know that house prices are inflated here much like the rest or the country but it also seems rents are low. 

This has really driven home that good deals are "made" and not "found" so that is my focus. And, here...is my question...

I have been analyzing a bunch of SOLD multi-families using the actual sales price and I cannot for the life of me figure out how anyone is making money!? Do they know something I don't? Do they have an advantage in some area that I am not considering? Or are they ALL getting bad deals?

Examples: 

*Duplexes with rent potentials of $1,500 per unit selling in the $500-700k range

*Quads with rent potentials of $800 per unit selling for $500k+ (that need about $80k in repair)

...I mean just quick 1% rule would make me RUN from this type of property...right?

What gives?

@Daniel Harnsberger thanks, where do I find info on RING. Didn't find it when I googled. 

Thanks Linda, I have a few projects but one big project I am looking for help on is a duplex convert back to SFH. It needs everything from roof to flooring, windows, baths, kitchen, some structural elements such as walls, porches etc...

I have a few resources I can pull together such as a roofer and window guy but I'd love to get someone overseeing the whole project.

@Marvin Franz thank you, I have been to the REIA meeting, I will check out the other two!

Any upcoming BP meet ups in the Richmond area?

Looking for Wholesalers in the Richmond Virginia market to link up with!

-Andria