All Forum Posts by: Erica Osborn

Investment Info:

Single-family residence fix & flip investment in Hampton.

Contributors:
Jonathan New

I was the selling agent when my badass flipper client purchased it, and I was the listing agent on the back end! Some good negotiation tactics on the front end and some grace on the backend made this another successful project for my client. Successful all-around!

What made you interested in investing in this type of deal?

I love working with investor clients, as an investor myself, we have then same train of thought! Jonathan is a no-brainer client, someone who I can have honest convo with about deals and intelligent back and forth to make sure the deal gets done.

How did you find this deal and how did you negotiate it?

We found this deal on the MLS, it had been on there for a while. We planted a seed with the listing agent (since the property had been on the market a while), I came back around and watered that seed and BOOM that flower came up through the dirt and we plucked it! My client knew the number he needed to get it for, we put that out there to the listing agent in the form of a verbal offer and when it came time the seller needed to sell, my client was there to buy.

How did you add value to the deal?

I was the agent on this deal, both sides. I helped run numbers & comps on the front end, negotiated the deal and manuvered discussions with the listing agent, keeping lines of communication open. I try to handle everything once the work is done, to get the deal sold and have happy buyer on the other side who will sing my client's praises.

What was the outcome?

SOLD! Even with the holiday schedule working against us, and we were dealing with a picky 1st time home buyer on the other end!!

Lessons learned? Challenges?

Persistence and follow-up are key in investing and working as an investor agent.

Finally "hopping" to the peninsula!!! @Shawn Bowen :)

It's me!!!! I am so blessed that Taylor has invited me to speak :)

I am a big fan of using RE attorneys for my closings. Shaheen Law Firm is great and is very investor friendly. Best of luck!

Are you talking about Portsmouth, VA? I am a landlord in Portsmouth and I am in the midst of a super deep value add rehab in Olde Towne. The city can be difficult to deal with at times, but patience and persistence pays off there. Also, when someone tells you something note the exact words they said, the date, and time. Things change around there, people change, and it seems everyone has their own rules and regulations. Protect yourself and always cover your ***!!! Good luck!

@Claudio Valdivia

@Taylor Hudgins

We will be missing our pals @Anthony Pinto and @Melanie McDaniel!

It's December, we are all distracted by the holidays, but as real estate investors we know there are deals to get done and deals for next year to start setting up. Come and network with local folks interested and active in all stages of apartment investing. We also want your input, we will be picking your brains for the apartment investing educational topics that you want to see presented in 2020!

Who: Anyone in the Hampton Roads area excited about expanding their mind about personal finances and wealth generation! I have 4 boards, so I can fit 24 people!

What: If you don't know what CASHFLOW is, it's the Rich Dad Poor Dad* board game to help you change your mindset about money and getting out of the rat race by compiling passive income generating assets and generating true wealth. All of this in a board game!!!!! *I am not affiliated with Rich Dad Poor Dad, just a fan of the game.

When: Tuesday, January 14, 2020; 6:00-9:00

Where: 1st Class Resource Center, 831 Seahawk Circle, VA Beach

@Claudio Valdivia

@Taylor Hudgins

@Melanie McDaniel

@Anthony Pinto

@Matt Faircloth

Hey apartment investors come join us this month for our meetup. We have Biggerpockets.com regular and raising private capital expert Matt Faircloth joining us (via video conference) to chat about just that, raising private capital for your apartment investing deals. We also have apartment investor and deal structuring wizard Phil Capron to talk about different ways to structure apartment investments and how to locate deals in your target markets. Both of these guys invest here locally and both are packed with knowledge, bring your questions, there will be plenty of time for Q&A!!! See you there.