All Forum Posts by: Dana Spencer

@Matt Castle Giles and Montgomery counties are preferred, but I'm open to branching out into Radford, Pulaski, or Bland. Those are the areas I know the best. 

Hey everyone!! I'm also in the same area and looking for my first rental/BRRR. All the multifamily properties definitely go fast. Does anyone use a management company around here that you could recommend? I'm not sure I have the time to self-manage.

It's crazy how many apartment complexes have gone up in Blacksburg in the last few years! Definitely plenty of those.

I'm looking for something in 60-120k range depending on how much work it needs, if anyone sees something interesting! 

Hey Nay! I took some time off, but I'm back. Are you still investing in this area? I also thought about college condos, but not sure I want the hassle of student rentals.

Speaking of networking, I live in your area... kind of. I've actually started expanding my search zone into Pulaski since there's  not a ton for sale in our area. I work in Blacksburg and live in Giles. Also looking for my first rental. I have tried to put in offers on 2 houses so far and both times they went under contract or got cash offers the day I submitted my offers. We should keep in touch and figure some of this stuff out together! Also, if you go through a mortgage company that isn't a bank, they will sometimes let you by with proof of current income and this years tax return. Try somewhere like Atlantic Bay mortgage. They have an office in cburg beside Bubblecake.

Hello BiggerPockets! I'm a new investor in the southwest Virginia area and possibly southern West Virginia. The main areas I'm looking in are around Virginia Tech, Blacksburg, and Christiansburg. I'd love to connect with other people in this area since it doesn't seem to be a popular area on BiggerPockets yet. I'm interested in SFHs and small MFHs to buy and hold/rent or possibly flipping some houses. Making the choice is hard for me because I love all things real estate and both routes look good for different reasons! Looking forward  to seeing who's around! Thanks!

Thanks! The tenants have between 4 and 9 months left on current leases. I guess I could continue with their current agreement and change to the ratio billed as leases expire.

I'm new to rentals and looking for my first. I found a multiunit that shares a single electricity box and water/sewer so the owner pays all utilities. Even with charging extra rent to accommodate the costs, it seems like a bad set up for a first income property. I ran the numbers pretty conservatively and the property would only cash flow an average of about $300 a month based on my down payment & last year's bills. Of course that would be less in the winter and more in the summer bc of heating. Anybody have experience dealing with a set up like this and any issues they've had with it? I'd really appreciate any advice!