All Forum Posts by: Eddy Dumire

Anna,

You really just need a decent sized business line of credit from a small community bank.  I drove east on Rt 3 from I95 and passed two options that both offered me solutions.  I can't name them but you can find them pretty easy from what I've described. 

As far as keeping a crew busy on a constant basis, I admire your ambition.  I don't see how it would be possible without about $1 million credit line to constantly churn.  If you were to offer them up to the investor community at large to fill in the gaps, that may fill some voids in their schedule.

It's definitely been challenging for me to find reliable, cost effective labor in the area.  I still don't have a plumber I'm happy with.

Eddy

I invest in  Stafford and Fredericksburg and I just got my license to primarily help with my own investing.  I do know that you now have to disclose that you're a licensed agent with EVERY transaction.

I've hooked up with Fathom realty.  They have a program that takes a very small portion of the commission and only charges $25/mo to be an agent with them.  Others will take as much as 60% of your commissions. There are minimum fees for one of your own transactions that are just a few hundred dollars if I recall correctly.

If any of you budding wholesalers find a deal, I'm looking for my next BRRRR.

I grew up in Dale City and I've been a volunteer firefighter for 23+ years.  There are good areas of Dale City and bad.  Very generally speaking the community grew from east to west and the street names are alphabetical from east to west.  The A-F areas can be a little rough.  Prices would range from $150-$250 or so.  G-L would be C+ to B- areas with prices in the $200-$300 range.  M-T areas are B- to B+ and would be around $250-$400.  There really aren't many A areas in Dale City.  The new communities at the very end of Dale Blvd where it meets Hoadly Rd would qualify.

I actually live and invest in Stafford and Fredericksburg.  The cashflow is better there, but honestly I can't find the deals that I used to get 2-3 years ago.  There seems to be lots of competition.  Perhaps I've spoken too highly of it here in the past :)

@Brian Chadwick You've probably found someone by now, but I always use Nageotte, Nageotte, and Nageotte in Stafford on Garrisonville Rd for my settlement and other real estate needs.  They are just really sharp, attentive, people.  I've never used them for a wholesale deal, but we did chat about it a little at my last closing.  They agreed that a contract is an interest in a property that could be sold and doesn't constitute a transaction that requires a licensee.

@Melissa Hill forgot to tag you in the last post.

I'd love to join Melissa. Please give me more details about your Thursday meetings also. I try to attend the Rappahannock REIA but the Monday night meetings conflict with other meetings I have.

Welcome aboard Melissa.  I've been investing in real estate for a couple years now and have got 5 properties under my belt.  I invest here in Stafford and Fredericksburg primarily.  I also just got my RE license.  Please let me know if you need any advice or help.

I'm not in any position to offer advice as I just became an agent myself.  Good luck to you though.  I do business in Stafford and Fredericksburg so maybe we'll cross paths.

There is plenty of demand for 4/5 bedroom properties in Woodbridge.  If you can give me a little more detail about the specific area of Woodbridge I'll be happy to give more guidance.

@Jimmy Nguyen  I'd love to help you if I can.  I'm a very new agent, but at this point, I have a couple years of rental property investment under my belt.  I purchased my fifth property in October on my way to my goal of 10 by 2018.  I live and invest in Stafford and Fredericksburg but I've been a volunteer firefighter in Prince William County for over 23 years now.  Please let me know what you need.