All Forum Posts by: Aditya S.

sounds like good news

Hi there, thanks for posting! I was wondering what the typical turnout is in terms of investors/service providers/sellers etc?

Best of luck Preston! I admire you making the move to greener pastures to start your business. If you ever come back up to Virginia drop me a line - would love to compare notes once you have gotten started.

Hi,

Thanks for posting this! I will try and be there this week. Could you also add me to the WhatsApp group?

Welcome to the DMV! I am originally from Seattle as well. I am real estate agent focused on homebuyers and investors (mainly offering rebates) and as an investor my focus in this area has been long term buy and hold investing. I live in Fairfax. 

I second the advice to check out the Cash Flow Breakfast Club meetings. I have only been to one so far but definitely found value in it.

Hi Amir,

I think it depends on your definition of deal as well as investment strategy/class. Are you looking at residential or commercial? Cash flow, rehab, quick flips, and so on?

Most of my clients tend to find their deals through the regular residential sources of MLS data - Redfin, Zillow, Etc. I wouldn't say there are any special secret databases or tricks. It is more about honing in on what works for you in terms of your risk/reward desire, finances, strengths, and then finding a way to apply that criteria to the same listings that everyone else is seeing to filter out the right property that hits all of your needs.

I plan to attend the Feb event. Looking forward to seeing you there.

Hi Vikas,

I don't know of a good PM in that area, but from my experience and those of my investor clients the two most important questions to nail down when interviewing them are:

1. Is the fee charged on actual rental income, or projected? (If projected, there is a conflict of interest imho in terms of expediency of getting a new tenant in once a property becomes vacant)

2. Is there a separate fee for new tenant recruitment? 

Best of luck in your search! Let us know how it goes.

Hi Vinh, welcome! I have similar interests as yourself - at my peak I had 4 doors in the DMV, all geared towards long term appreciation. A lot of my clients are local investors who are split between shorter term flips and longer term equity building.

If you go the 1031 route be sure to have a solid idea of a few things you want to replace the condo with. I know some people who have been burned by the strict timelines that are part of the 1031 process. All the best and good luck!

Somehow my reply disappeared, so reiterating here:

-I believe you will owe full tax on the sale as you haven't lived there in 2 of the past 5 years

-Is RE part of your goals? If not, this seems like a dead asset and you should sell, eat the tax, and index the proceeds. If you want RE as a portfolio diversifier and you believe your equities portfolio is large enough, then I still suggest selling but aiming to 1031 into an more lucrative property.