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All Forum Posts by: Erica Osborn

Erica Osborn has started 22 posts and replied 100 times.

Post: Seller financing when seller has a realtor

Erica OsbornPosted
  • Investor
  • Tucson, AZ
  • Posts 103
  • Votes 97

@Sean Ryther

Most likely even with seller financing you will have to put some money down (unless you get really lucky with 100% seller financing). This chunk of money will most likely be how the seller will pay his agent and closing costs. It's not really your problem how the seller's agent is going to get paid, but if you want to make it more likely the seller takes your offer make sure that's addressed, because most likely (key word) the seller isn't going to come out of pocket and pay his agent and closing costs and let you have his property with no skin in the game. Good luck out there!

Post: General Contractor Recommendations in the Pensacola, Florida area

Erica OsbornPosted
  • Investor
  • Tucson, AZ
  • Posts 103
  • Votes 97

@Jule Serio

Great suggestions by Mike. I would also add, GCs are busy. Don't waste a GCs time, if you get one to meet you, make sure you've done your homework, walk the property beforehand, have an inspection done, know what you want done and have your scope work together, keep the walkthrough short and focused. Offer to pay them for their time and expertise (to get them to show up), maybe bring them a coffee! It's all about building the relationship.

Post: Does this make sense?

Erica OsbornPosted
  • Investor
  • Tucson, AZ
  • Posts 103
  • Votes 97

@Jacob Laginess

Hey Jacob! I'm a Pensacola property owner too. I'm long distance and a military family! I have a great PM recommendation that has been awesome for me and my properties. Realty Masters, my personal PM is Lauren Claudio and I would highly recommend them!

Post: Hampton Roads Management Company Search

Erica OsbornPosted
  • Investor
  • Tucson, AZ
  • Posts 103
  • Votes 97

There are plenty, but my clients have really loved:

Petra Zayakosky, Broker, EZ-Vest Realty Inc., Office (757) 833-8551, Direct (757) 717-4472

Post: Investor friendly title company

Erica OsbornPosted
  • Investor
  • Tucson, AZ
  • Posts 103
  • Votes 97

I know these guys aren't technically in Norfolk, but Shaheen Law Firm, PC in VA Beach, off Witchduck, is the best! Their team is super investor friendly and kicks butt!

To Erick's point above! Many agents don't know, or want to know, about running numbers on investments properties. However, there are many that do know! If I was a new investor getting ready to make that big of a purchase I would be doing exactly what you are doing by educating myself, digging on BP and asking for guidance and I would also seek out an investor friendly agent in the area you are looking to invest in. You can go to/or video attend some area meetups and network to find an agent that fits with your personality and has the experience and know-how that you are looking for. An agent who knows how to run numbers and you can bounce your ideas off of, will be an amazing resource! Using a Buyer's agent (to represent yourself) in a transaction like that could be very important for you and in case you have not bought real estate before, the Seller pays for the Buyer's agent fee. Meaning it's of no financial strain on you to have that guidance and representation in the transaction and help you make that big purchase, rather than feeling like you are poking around in the dark. Good luck, it's like the wild west in small multifamily right now in our market. Go get 'em!

Post: New to Investing (Hampton Roads, VA)

Erica OsbornPosted
  • Investor
  • Tucson, AZ
  • Posts 103
  • Votes 97

Hey Christian!! The US will be happy to have you back in a month or so, and I am sure you are looking forward to being home. Taylor is right, you want to tailor your investing strategy so that when the military sends you away you aren't really thinking about your property you had to leave behind. Solid rentals and good property managers who have maintenance and leasing all taken care of! I am a military spouse and knowing that every few years we move or so has had a great impact on how I invest in an area. I am very active in the area that I am in, but before I leave each place, I like to make sure that my properties are stabilized and running on their own and will not take a lot of attention from myself, so I can focus on investing in my new area. When I was starting I went after small simple single family homes, with original footprints (no additions), 3 bed, 1.5+ bath, under 1,400 square feet w/ dishwashers (or you could put a dishwasher in), off street parking and some sort of storage. I have moved on to multifamily and investing with partners, which is also a smart thing to do when duty could call and pull you away from an area in a moments notice! Make those local connections!!!! :) Travel safe and thank you for your service!

Post: Flood insurance Hampton Roads Virginia

Erica OsbornPosted
  • Investor
  • Tucson, AZ
  • Posts 103
  • Votes 97

Mike! I just did a video with Janet McCaskey of McCaskey & Associates insurance talking all about Hampton Roads flood insurance! I'll send you the link in the messages!

I can send you all the groups I find helpful on Facebook and Meetup.com, just send me a message. I keep a running list! 😁 

Post: Investing in Norfolk, VA area

Erica OsbornPosted
  • Investor
  • Tucson, AZ
  • Posts 103
  • Votes 97

@Kristopher Kyzar Thank you for the mention! @Katherine Sherrit coming from MI? I'm from MI :) Born and raised, I went to Grand Valley State, but couldn't wait to get away from those winters after college :). I like to visit them when I go home to see my family though. I am a military spouse as well!! There are tons of meetups in the area and probably come July, you'll see people grouping back up and getting out there and networking again! It's a great investing environment here, lots of activity and like all the others said the strong military presence keeps a healthy flow of buyers, sellers, and renters! Get in touch when you start to head down it would be great to have a coffee and chat investing :)!!!!!!