All Forum Posts by: Elizabeth O.

Hi Kristina, I'm up in NOVA as well. I use KRS holdings/Great Richmond rentals. They take care of my properties in Va Beach and in Richmond. They do the whole area. I have been very happy with them and would be happy to give you specific names and numbers.

@Steve Brown Congrats on the deal.  I'll send you a message with contacts in Richmond. 

@Linda S.

My hand is up, I'm dealing with that right now!! 

I'd love to meet up with this group but I'm a bit to far away.   Best of luck to everyone. 

Thank you for the concern. The house was built in1986, so we should hopefully be fine.  

Does anyone have someone in the NOVA, northern Virginia, area that has taken care of substantial popcorn ceilings?

~3200sqft home and almost every room has popcorn, some worse than others.  I have no idea how much this job would even cost to take care of.  Does anyone have someone they have used that does a good job for a fair price? 

Thanks so much for any help or suggestions.

@Michael A.

I agree that your estimates are low.   It would be a good idea to up your insurance, vacancy, and maintenance costs.   There is almost always a make ready cost.  If this is your first rental, you should be able to put down 20%.

You can do better than 1050 for a 132K purchase.  Try looking slightly outside the city. 

@Renee H.

I use Great Richmond Rentals and have been very happy with them.  I'd be happy to put you in touch with the guy I've been using for the past three years.  I also own in Midlothian,

As for the 35K in equity, you might want to get the opinion of a realtor, lender and property manager.

A realtor will confirm value with comps in the area

A lender will be able to tell you about your options which may include a cash-out refinancing

A property manager will let you know what current rental values are

Once you have all of this info you should be able to make an educated decision based on your ultimate goals.

@Linda S.

I've worked with my realtor for 3 years now and she's a straight shooter.  I honestly think it's a case of the owner wanting to be nice to the lady that lives there.  The owner offered to sell directly to the tenant but the tenant is unable to purchase right now.   All cash was not mentioned. 

Unless the tenant fingeres out a way to purchase or she doesn't accept an offer from an investor - they will list it MLS.

My realtor reached out to me about a property in Mechanicsville, Va.

Its a 2011 town-home with a market value around 215K. The home is currently rented at 1331.10 + 19$ pet fee = 1350.10 HOA's are 140 which includes pool, trash and exterior maintenance. $1,000 total in maintenance fees through a property management company over the past 3 years.

The owner it is having some personal issues and needs to sell the property.  In an ideal situation, she would like to sell it to an investor so that the current tenant may remain in place.  

She owes about 150K on her mortgage.  

FYI; She didn't want 135K and could get quite a bit more from an owner occupant but seems she really wants to help her tenant stay in place.

Anyone have any ideas or maybe interested?

Jonathan, 

Yes, what you are looking for is certainly there.   As for area, it really depends on what you are looking for. You can find that price range everywhere but do you want a ton of work or a rent ready place? 

I use a property manager for my properties and I have been pretty happy with them.

Reach out if you would like my contacts down there.