All Forum Posts by: Donald Capwell

I agree with @Mike Acri - I'd likely offer to extend 3 of the leases so they renew at least 2 months apart. I'd approach the tenant that has been there the longest and offer a 6 month extension at the same rent amount, the 2nd longest would get a 4 month extension offer, and 3rd longest on site a 2 month extension. Every lease terminating in July is risky... Good luck!

Hi, @Tashinga Musekiwa.  I live up by the USAFA - where are you?  I agree with @Dan Mackin that COS is a good prospect for long term buy and hold, given the diversity and growth estimates, but I'd suggest Fountain / Security as a starting place for you, not knowing anything beyond the fact that you are serving this great nation (and THANK YOU, sir, for that!).  That area is close to the bases and has lower cost properties, but vacancies would remain low as long as we have all these bases in town!  :)  There's a lot of action in Pueblo, too, but I don't know if I'd start there, given the distance and his being your first property...

If you'd like, you can DM me, and perhaps we can get some time together to chat in person about your plans.  I recently moved here from the D.C. area, but I'd be happy to fill you in on what I know...

Cheers!

Hi, @Cesar Rebolledo, and welcome to BP!  Thank you for your service...

The best advice I can give anyone starting out is to educate yourself.  BP is a TERRIFIC resource, and there are a lot of very helpful people here.  Your question is a loaded one, though, at least the way I read it.  Educate yourself on the market or markets you want to invest in.  Why did you choose flipping as your strategy?  What is your competition, and what obstacles will you face?  Where are the desirable areas (low crime, good schools, etc) for fastest sales?  What are houses selling for, and what are the average days in market?  Are there market indicators that you should be concerned with (job numbers, unemployment, people moving I. Or out for work, etc).  Once you understand the market and why it will be profitable to invest there, who can you partner with when its time to take action? Who do you need to meet and add to your team to be successful?  What resources are available to you already, and what systems do you need? What do you do really well, and what will you want do outsource?  There are other questions, but ALL of these are examples of the kinds of questions you need answers to before you settle on the area.  

I don't invest in either of the areas you mentioned, but I'm tagging @Jessica Swingle who is a great contact in NOVA.  I also know Mike O'Connell who invests in Richmond and Fredericksburg, and is a BP member (I can't tag him here, though).  He's been at it a while and may know Charlottesville or someone that invests there, but don't hold me to that.  You can look him up...

Anyway, my advice is to spend a lot of time here on BP in the Education tab.  Read all of the Ultimate Guides that are relevant to what you want to do.  Pour into the podcasts and blogs for flipping, and use the search field up top to search a specific question you may have.  Again, this is a great website, and if the question hasn't been asked on this site, yet, you can start a forum post and get the help you need.

Probably not what you were looking for, but I hope it helps at least some!  All the best to you!  I'd be happy to meet you if you are ever in the Fredericksburg area...

Cheers!

sorry, @William Price, I forgot to tag you!  See above...

check James Hilldrup, PLC in fredericksburg.  He's good, and specializes in RE (and I think he does a lot of land trusts, although I haven't used him for this yet).

You can find him on google- tell him I say hello!!

have you tried a google search "we buy houses in Anytown USA," then called?  I haven't needed to do this, but would try it if I was looking in a different town...

Also, look for investors here on BP.  List the town name in the subject header and body of post.  I personally have keywords set with my town names, and I trust others do, too.  You mention the city/state and should get some hits.  Probably better than google, too!!!

Cheers

I agree with everyone that said pass on both!  Neither of these folks met your requirements, so check your market rents to make sure you are priced right...  You might be too low to attract the right tenants... That was the case for me, and I wavered on my first tenant and paid the price!  I raised the rent and stood firm on my criteria afterwards, and my headaches disappeared!  

A thought about that bathroom window that might help... Get some of that "frosted" look window treatment from the local home improvement place - not a heavy pattern, but enough to to allow the light to still come in, but blur or remove the view of that gas station.  Hide it in plain sight, so to speak.  It's gotta be better than what you have now, which only hurts you... Maybe a simple window treatment, too??? 

The remodel looks nice, but I can't comment about the area or offer anything beyond what the other posters offered...

Good luck!

@Mike Codding, did it work?  :). Welcome

@Eddy Dumire - Sounds good!  DM me... Maybe I can help with something...