All Forum Posts by: Charan K.

@Jonathon Nguyen Are you able to find any agent offering 1% Credit ?

@Roshan K. I am not sure whether you got any prior experience being a landlord. In this case you need to take care of both Construction and Management. A single black sheep contractor can mess up the full plan. Its best to start small to take the losses in case of failure. Start with adding a new space/ minor improvements/ bathroom & kitchen rehabs. This helps in leaning and building the contacts. Once you have the basic systems in place, you can  start chasing the new challenges. Wish you a good luck !! Will be waiting to hear your success story.. 

@Roshan K. I am also in same Shoes as you do. Its rare to see a fourplex in my community too. But Constructing a Fourplex by a newbie is not advisable. Start Small and learn from your experiences. A fine day you will be ready to build your own fourplex.  

You can consider Manassas/Manassas Park areas too. They are in your price range with good cash flows.

I would be interested also. I am in Prince William County, in the Yorkshire/Manassas area.

Anyone have any recommendations for CPA (Looking for someone in NoVA) for end of year tax planning. I got only 2 rentals at this point of time. Looking for a low to mid range CPA.

It takes minimum of 45 days to gain the control of your Unit.(5 Day Notice+  21 days for Unlawful detainer Initial Hearing Date (+7 days if he shows up and  asks for trail Date) + 10 days cool off period to appeal after granting Immediate Possession + 72 Hour Sheriffs Notice (+2 days if falls on week end. Sadly No evictions on Weekends)) Don't waste any time worrying about how to collect from him, it's so unlikely. Just get him out and get control of your unit. 

@Andrew Johnson Thank you very much for your valuable inputs !!

@Andrew Johnson Does 50% rule applicable to Properties in the mid range (which worth $280k - $350K) when they are rented for $1800 - $2800/ month. Right now I am cash flowing as my expenses are less than 50% of monthly rent.

That's awesome!!! WELL DONE !!