All Forum Posts by: Carson Sweezy

Welcome Rachel Li there are a lot of meetup groups in the DC area. My favorite is Capital REI which meets in Fairfax at the end of every month. Check them out on Facebook! I think the next meeting is May 25th

Hey @Joseph Stapleton I met with the founder of Interactive Shares today, they have a really interesting value proposition, curious to know if you made a connection and how everything went.

Alex Day welcome to Nova! There is certainly opportunity here, although I don't agree with much of what Kevin Hunter said. I work with several investors who understand that in our market it takes several offers to find a deal. The competitiveness in this area makes it necessary. My job with an under market listing is to coach my clients and have them understand where the house would be at market value, after repairs. It's best to analyze this while the investor is crunching the numbers and figuring out what their max offer could be to make a deal. The fact is, there is a lot of money in this area and not every investor looks for the same returns, some just want a place to park their money, allowing them to offer much higher than an investor looking for a deal. Also, I would be very careful when working with the listing agent. While it is not illegal in Virginia (it is in some states) dual representation rarely benefits both parties. One of the best ways I have found for networking and learning about the market is at local meet-ups. I attend one regularly in Fairfax, and we always have good discussions. Try to look into some of the meet-ups and I'm sure you wi

Your agent should be able to gauge what the sellers motivations are. That will best position you to compete against cash buyers. Keep in mind there are a lot of investors in this area, not all of them will have the care to analyze deals as critically as others. So it's not always a bad thing to lose to a cash buyer that may be able to squeeze a tighter margin than another investor who would be in over their shirt.

The best way to get involved is to put yourself out there. I can guarantee that if you attend locks meet-ups and have coffee/lunch with local investors, that opportunities will present themselves. After that the rest is up to you. BP is a great place to begin to network. Good luck!

Bill has provided you with some great advice, keep learning and attend some local REIA meet ups. That would be where you are most likely to find agents willing to work with you.

Sammy Patel I agree with Jeff's analysis. The numbers are really tight on this one, and I would caution you to reanalyze to make sure your numbers work. I've worked on better cash flowing opportunities with clients of mine IN nova. Also keep in mind the short sale process can be extremely long, so you may be waiting to close for 6 months or so. On a second note, what lender is giving you a 5% interest rate? I don't know your specific situation but I have seen rates as low as 3.75 for Conv right now.

Originally posted by @Anderson Lioyn:

So either way the total is 90 days in genral no matter what.

Like @Russell Brazil said it is very specific, it could be 0 days, it could be 5 months. Lots of factors that determine how hot the market is. Even within a city, it could vary street to street. 

@Jeff B. That's interesting, not the case in our market. 

Anderson Lioyn As Patrick mentioned, real estate is very local. Days on Market (DOM) varies not only by city, and neighborhood, but sometimes even as specific as by street or lot type. To help answer that more specifically, what area in particular were you curious about?