All Forum Posts by: Bobby Montagne

Hi @Karelyn Cruz, I would recommend Deanwood. It's a neighborhood we have been keeping an eye on and think will appreciate quickly. About 1/4 of the houses in Deanwood are walkable to the Deanwood Metro station, and the Deanwood recreation center is a nice family-oriented amenity. Some other DC neighborhoods we see growth in are Petworth, Eckington, Edgewood, Brookland and Trinidad...however, home values have spiked in those areas, so it may not be as easy to find something within the price range you are seeking. 

My team and I are very familiar with the DC metro area, so if you have any additional questions, would be happy to connect and chat. 

Best of luck!

Congrats @Vincent Townsend! Looks great! 

Hi @Jeneé Murphy,

I have have worked with and know many investors that have worked with Kane Jefferies http://kanejeffries.com/

They handle deals for many investors in town and understand the challenges that can come up with title when dealing with investment properties.

Hope that helps! 

Hey @Mujangi Kabamba ,

You're a smart man for having an interest in real estate investing in the Richmond tri-city area. The area is constantly in national publications as one of the most desirable places to live. One of the pros is the strong market demand which keeps the days on market low when you sell. You can still find deals on properties if you go outside the hottest area's. Cons are the market is becoming very competitive, which means you need to move quickly when you find a project as there is probably someone right behind you getting ready to buy it.

Good luck.

Hey @Ryan Perrone , 

You'll find that most private lenders will want borrowers to have a minimum of 20-25% downpayment towards the purchase price of the property. In addition, most private lenders will have rates between 9-12% based on credit scores and experience and have terms of 1-3 years. If you can find a friend to lend you funds at 6-7% you should absolutely do it!

Good luck investing

All good answers so far. @Ricardo Velazquez , have you thought about getting your real estate license and starting in real estate sales? You can learn a lot about deals from all angles and be able to focus on investment properties if that is what you prefer. In addition, it allows you to see new deals before they hit the market. Good luck!

Hi @Tiarra Watson, welcome to BP! This site is a great resource and the community is always willing to help! Please don't hesitate to reach out if you have any questions. My team and I are familiar with the Triangle NC area. Also, here are some of my favorite real estate investing books ! Best of luck!!

Welcome to BP @Tara Bennett!!! Looking forward to hearing your about your journey, please continue to keep us updated! We are familiar with the Newport News area so if  you have any questions, please don't hesitate to reach out! 

Typical rentals in Highland Park for a 2 BR 1 BA run about $800-$900. However, Richmond is a market where a high-end renovation can command higher than fair market rental rates. If you were to add high-end interior and exterior finishes you can expect to raise the average rent by $150-$300. 

Iron belt cities such as those in Ohio or Western Pennsylvania come to mind. However, be sure to think about what you make in additional rent vs. property value you may lose when it comes to appreciation and ensure that it looks positive. In some of these markets, properties sell for $50,000, but they sold for $45,000 twenty years ago.