All Forum Posts by: Davis H Son

Personally I think this all depends on how you are going to do the project:

1) Long-distance option: Hire a GC and or Project Manager whom you trust to knock out the job, maybe swing by once a week to get eyes on or have a trusted source get video/pictures to make sure its going as planned. With this option a solid Scope of Work is paramount at the beginning with your General Contractor

2) Close option: Manage it yourself, hire the sub contractors to do the jobs, keep everyone on schedule, be at the project a few times/week. Though this is cheaper, it is more time consuming. 

I would definitely plan for more time than you expect and more headaches unless you really trust the contractor...  when something goes wrong the lag time will be much longer without you being there to notice and correct. 

Davis and JayJay- I agree it's tough to make numbers work in Northern VA but there are also good opportunities and appreciation. I am a real estate investor in NOVA and am a Broker and own a property management company in Reston. Happy to chat anytime and offer advice. I also know many Realtors and Property Managers in Richmond and many surrounding smaller cities within a couple hours from NOVA and can make a connection.

One suggestion is add someone cost wise into the mix as a project manager. They are not the same as a GC or contractor. Their job mostly is to check on the project and provide updates. A property manager who wants to manage the rental after the remodel may be a good fit, or a realtor who is hungry and motivated. It can add a layer of accountability. Be sure to let the project manager know you expect them to go to the property 2-3x per week. Have them take pictures/ videos. Have them ask contractors questions and ask for updates. 

It might add $1-2,000 to your budget but can add some comfort to the concern. 

It’s something I’ve done for others OOS and I’d guess someone in that area Would do for you. Good luck !! Way to choose brrrr. 

I'm brand spanking new to this as well... currently reading a book "Long-Distance Real Estate Investing" by David Greene, published by BiggerPockets (which lead me to this website).  Greene lends confidence that long-distance is doable.  Give the book a look!

Hey all,

Richmond area realtor and investor here. As mentioned above, if you want to BRRRR from a distance, I think you need to find a contractor you can trust, who can send you video/photo updates throughout the process.

We have a monthly casual gathering of investors (some new, some experienced) happening in Richmond. There's also a FB group called 'RVA Real Estate Investors Network. We gather to encourage and one another, share ideas, share resources. We'd love to have you pop by our next meetup which will be March 10 at 6:00 at Brambly Park in Scott's Addition.  

Hey Davis! I'm a new investor in the NOVA area looking to invest in Richmond, VA, also trying to meet other investors. Any chance you can drop the Facebook group link in the chat?

Thank you!