All Forum Posts by: Christian Drake

Good morning! Recently moved to Manassas, Virginia for work and would like to find a duplex/tri/quad in Stafford, Fredericksburg, or any other area close to Quantico. I look forward to talking to any agents/investors in the area. Thank you!

Thanks everyone this is helpful. We are looking to get into residential for the foreseeable future and I understand each city/area is specific to itself. Never heard of a TIC @Steve Vaughan. We have funds to most likely close one our first and maybe second properties without getting into residual debt if we can BRRRR correctly. If we come across some cheap flip opportunities that would be very beneficial.

@Account Closed wow that is a lot. Sounds like the big city is trying to push the smaller guys out. Thank you this is a bit of an eye opener. I will definitely do my due diligence on this.

This is a great little article @Emzie Blankenship. Just answered a few of my questions. @Stephanie P., is there any kind of advice you could give on how to approach having two other partners with possibly different levels of financial input? How would you structure an LLC around that? Would you put weight to knowledge or availability to grow business? Are there other factors you would have in mind that would change possible ownership? Thank you for your time!

Hey everyone,

Should I obtain a license in my state for Real Estate? Does this create a conflict of interest? Have you heard of a contractors license being useful to anyone to cut out a middle man? I know someone in most of the major categories of a home in my area. Any input is much appreciated and thank you in advance!

Hey everyone!

I'm currently looking into the pros of an LLC because I'm going into Real Estate with two other people financially. I know that falls into an attorneys hands as well with legal binding documentation. Does the LLC help? Should I do a deal or two first before doing so?

Hey Salim!

I just got out in August. I'm looking to get started next fall in that area which I know is a ways away but if you need any type of handyman or recommendations on local services (accountant, legal, agent, contractor) I can help get you options. I grew up and served there so I know the area pretty well.

Hey Jake thank you for your service! I’m in a similar situation. I have a VA loan in Virginia as well and if I need to refinance I can because I lived in the home for a year continuously. I also know that there are certain exceptions to the VA loan program where if you are PCSing to another location you may be able to use it again. I would get with a local VA rep in your area. I know the ladies in Norfolk are ultra experienced and know what you can and can’t do. If you can get it done now that’s optimal because the rates are likely to start bumping up within the next few years due to economy’s performance and the current administration. However, don’t rush into anything either. Be thorough and very sure of your decision. If you do decide to keep the VA loan you will need to have four to six months of expenses saved up to look favorable for another mortgage. I hope this helps and if you have any questions I’ll do my best to help you!

Thank you both I will use both strategies to get the biggest picture. 

Hello!

I am a new investor in 757 area code of Virginia. I'm developing my plan and I'd like to get some thoughts on how to look for a good local bank? What are some of the questions I should ask? How useful can using just one bank be? I want to use good relationships in my investing. I want to have a honest relationship with a financial institution.