All Forum Posts by: Jesse Bellavance

Thanks.  For myself. The rental properties I purchase are to be buy-and-hold. I would like to have them as a decent source of passive income 15 years from now.  If possible I would like to purchase 1 rental property every year.  I am focusing on college towns in my area.

My overall strategy is steady accumulation over the long term.

Is the 70% rule mainly applicable to distressed rentals to be flipped?  Potential properties I have looked at run about 100,000.00 and for the area bring in about 1000 in rental income. Most of these houses seem to be in good shape upon first look or need minor work.   I would definitely offer less than the 100K but maybe more in lines of 80-90%.  I live in the Central Virginia market of Charlottesville/Staunton/Waynesboro.

I am doing a lot of researching and reading practical books on real estate investing so please forgive me for ignorance concerning the subject.

Thanks for any advice.

J.

 Thanks Aaron.  I have also been looking in the Waynesboro area. Do you think that is a tough market as well?  

Jesse

My license is actually still being processed so technically I am not an agent yet. I am affiliated with Keller Williams but cannot practice until it comes in. Right now I am only researching. It is often suggested you follow a 70% rule in that basically the house you purchase should be purchased at about 70% of the asking price.  I have not tried making any offers yet but I suspect I will get turned down by a few. I am trying to stick to class B properties or C+ and under or about 100K listing price. 

Hi, I am new here so forgive me for the ignorance about this subject.  Right now I am just learning to crunch the numbers between different properties so I can begin to see what is good or bad in terms of investing in my area.  

I come from a cartography/GIS background and was thinking of making reference maps for my market area that would show key values related to investing for rentals based on zip code or school district.  I was wondering if anyone here new of any sites that compile that information? (Occupancy Rates, Percent Rentals, etc.) What other values would be of interest that could be expressed geographically?

If you are from the Charlottesville area please let me know. I would be willing to share any maps I produced to anyone interested.

Thanks,

Jesse

Hi, I am working with Keller Williams of C-Ville.  They have training for investing in real estate with a "guru" by the name of Gary Wilson.  I am active in that and reading as many non-self promotional books that talk about Real Estate investing.  

Looking also for data sources that might list occupancy rates, rental prices, etc. based on zipcodes.  I am a firm believe in maps. Haha.

Thanks,

Jesse

I just got my real estate license and am looking to focus much of my activity on investing in rental properties. (Single/Multi-Family).  Long term goal of retiring in 10-15 with my properties acting as my primary cash flow in addition to my other income.

Currently I am a Cartographer/Graphic Artist.  I would like to tie in my experience with mapping/graphic design to produce maps that might be beneficial to this community.

I live in the Charlottesville, Virginia.