All Forum Posts by: Debra Worrell

I work in the VA Beach area and work with out state investors. Honestly, the key to successful flips out of state is very simple. COMMUNICATION! Your agent needs to staty in constant communication with you. When my out state makes an offer and they counter, I dont take it upon myself to do anything im not already authirized to do. Everything else I call, text, email, and wait to be advised. Agents who specialize in working with investots have to remember, its not our money. Our job is to make our clients money.

Glad I could help!

If your looking to pick up whole sale properties there are a few very effective and inexpensive ways to do that. The two that I have found most effective is FB and Craigslist. Start a business page on FB for free. Offer a finders fee of between $300-500 (AT CLOSING) to anyone who brings you a home that is not on the MLS (abandon, run down homes that can easily make a profit). Also, you can advertise a similar add on Craigslist as the "We buy ugly houses" people. Just don't call it that, I don't want you to end up in court. LOL Finally let your friends and family know that you are offering this "finders fee", that way they can be on the look out for something while they are riding around to and from work, the grocery store, church, etc. This cuts the cost of having to send out scouts. They bring you an address, you look up the owners through city tax records, and call them to see if they are interested in making a deal. Cheap, effective, and you don't have to shell out any cash until you make some money at closing. Hope this helps!

I have an investor that just bought a buy and hold in Old Towne Portsmouth and another who did a flip in Norfolk. It really all depends on what your budget is for the purchase and flip, and what your bottom line net profit is. Personally I wouldn't advise any of my clients to touch a property if the net profit wasn't at least 25-30K. I specialize in working with investors all over Hampton Roads so if you have any questions, I'm always here to help! 

Welcome to Bigger Pockets! Are looking to expand your flipping to the VB area? The marketing is amazing here right now!

Hi Andrew and welcome to bigger pockets! I am a Realtor for Keller Williams in the Greenbrier section of Chesapeake. I specialize in working with new and experienced investors. I have actually helped a few new investors from Bigger Pockets successfully flip anywhere from the first to multiple properties. I also have a Project Management company that is very helpful for new investors. It walks them through the process. A lot of new investors are also working full time jobs and can be overwhelmed overseeing the day to day operations to make sure their project is on schedule and budget. I take the stress out by finding the property, running the numbers, estimating the rehab costs, and preparing the house for Listing. I work with great Hard Money Lenders and I have a team of Realtors, Lenders, Contractors, Home Inspectors, and Lawyers working on my team to ensure your first investment is a successful one. I hold a Class A Contractors license, and grew up in the construction industry so I know what I'm looking at when I walk on a job site. If your interested in sitting down to discuss your goals and needs, I'm always available. No obligation, I just love to teach. If you just have questions, I'm always here to help! Feel free to message me if your interested in having a meeting and making sure your first flip is a successful one! I absolutely LOVE the excitement of working with new investors! Best of luck to you! Debra Worrell 

Renting or boarding a room can be a little tricky. Obviously the person you rent the room to must be a good fit for your household. I would talk to your potential boarder and ask what her needs are as far as lease. Is she comfortable with week to week or month to month? She might feel more secure with a short term lease (3-6 moths) for the security of knowing she won't have to relocate on short term notice if your situation changes. In the lease, I would include what amenities in the home she is entitled to use. Does the rent include her utilities, are there house rules that are a violation of the lease? (Getting a pet, tidiness, chore contribution, and anything misc) What are common areas of the house? Anything that may have annoyed you about your other boarders, I would address in the lease. But most of all just be fair. I think that is the best way to keep your boarder happy and yourself sane! Rules in writing, no confusion, no miscommunication. Hope this helps! 

Its really good in Portsmouth and Norfolk. I'm closing one at the end of the month. Also the South Norfolk section of Chesapeake

YES YES YES!! Even if it is not required, please get title insurance. This is for your protection. The last thing you want as an investor is to flip the property and find out when you sell it that there was an overlooked title issue when you bought it. 

Welcome to BP, I'm on the Southside. Im a Realtor and I specialize in working with investors. Glad you're going to be joining the small group of us who do both. If you have any questions or just want advice on investing, give me a shout!