All Forum Posts by: Andrew Kwiatkowski

@Charles Stanback - WV is an attorney state. Try Pill & Pill in Martinsburg.

Hello and welcome from the Eastern Panhandle.

Welcome to BP.

I'm just down the road from you. There is a small contingent of Eastern Panhandle users. Do you attend any of the local REIAs? There are several I could recommend if you're not currently attending.

We share similar goals - I'm looking to primarily develop a portfolio of rentals, and perhaps supplementing this with some flipping. 

Greetings from the Eastern Panhandle!

There is a quite a bit of audio content in the podcasts for Wholesaling specifically. When you do get to that point, find a good real estate attorney to assist with closings (all RE transactions in the state must go through a closing attorney).

Welcome James!

Morgantown students - I can only imagine the stories you have. We spent time there last year, and I was amazed at how much construction had taken place - seemed almost ubiquitous. To that degree, I agree about the "surplus" of beds; however, differentiation sounds to be your play (going "upscale").

One suggestion - have you ever looked at properties more towards Clarksburg? It might be a bit of a "calmer" area without as much student damage. 

Hello all.

With regard to Fix-n-Flip in WV, the markets you're asking about are all in close proximity, but are very much different.

1) Shepherdstown (I do have bias) - small, cutesy college town; higher-end - I've heard it referred to as the Beverly Hills of WV. The volume is small here for true flx-n-flips, but you can find deals from time to time, esp. within the zip codes outside of Shepherdstown proper (try Harpers Ferry and Shenandoah Junction).

2) Charles Town (and Ranson) - in the same county as Shepherdstown, but closer for commuters into Leesburg, etc. Housing developments are popping up all around CT, and they're priced attractively to professionals commuting to the cities. Fix-n-flips are around, but typically you'll be restricted to some of the older, relatively competitive housing stock. Charles Town, IMO, is much better for rentals.

3) Martinsburg - You'll find cheap houses here, and there's a reason for that (heroin - BIG TIME). I'd suggest this is also much more of a rental market, at least in the less affluent areas. Zip Code 25403 is generally Martinsburg west of I81, relatively affluent. I found a deal here just the other day I'm salivating over.

You're asking about "finding" - are you finding and putting under contract, or simply just a referral ("finders") fee? I don't believe a pure fee, arranged outside of a transaction, would be prohibited, if you're just marketing and giving somebody a "heads-up." That being said, you'd sure better trust that they actually pay.

If you're talking about contracting w/parties and wholesaling; In WV, my understanding of the laws is that all transactions concerning an interest in real estate must go through a licensee and a closing attorney. 

http://www.wvrec.org/Law.pdf

Welcome, Jenna! 

I'm down the road from you in Shepherdstown. As mentioned before, there is the Hagerstown REIA, and one that meets up at Hoss' Steak House on Rte9 in Martinsburg. The Eastern Panhandle is an odd market, but we're certainly in the path of growth (if memory serves, Berkeley and Jefferson counties were the only ones that grew in the last few years in WV).

All the books above are solid, and BiggerPockets has some great ones as well. I'd also recommend the Podcasts - ALL of them!

Heads up on Martinsburg proper - they have some rather specific regs. when it comes to rentals, if you're looking to buy-and-hold there.

Welcome!

Welcome!