All Forum Posts by: Ethan Perry

Hi Aaron,

I'm in the same "searching for a great CPA" boat. I will keep you in mind if I make a connection locally, please do the same. 

If we can help in your rental search let us know! 

@Charan K. got it, thanks for the input. I'm starting to learn a little about Manassas, I'll look into it some more. All I know right now is to stay out of Georgetown N&S lol 

Thanks for the feedback guys. I understand that finding off market deals is a better way to ensure numbers are where you want them - same deal with rehabbing. I appreciate you sharing that you guys are really finding .6-.8% deals out there vs the 1. 

@Eddy Dumire I will do that 

@Charan K. is that mainly in Manassas? 

@Account Closed Assuming so, but that's why I'm here to ask. I want to buy deals for cash flow, appreciation being the icing on the cake. 

I have a question for all of the VA landlords out there...

To this point our primary focus has been on developing our rehabbing business and putting cash back into the company. As we work through a couple deals to round out the year we are starting to think about next year and what our goals will be. 

We would like to start building a single family rental portfolio. The loose strategy would be - every other flip or so we do, pick up a rental property, with a goal of acquiring 4 rentals in 2018. 

I have utilized the BP rental calculator to run numbers and have familiarized myself with the terminology but I'm curious to know what metrics make an acceptable rental for your business and why. 

To me, if I can finance a property with 10-20% down, cash flow a couple hundred bucks a month on a 20 yr note and get close to the 1% rule I think I'd be cool with that to start. I want to buy homes in B&C areas so I know I may get less cash flow but hopefully less headaches as well. For reference I'm in Central VA, in the Fredericksburg area.

I would like for some of you guys & gals that have way more experience than I to point out the flaws in my logic and hep me understand how you evaluate what numbers/metrics would make a good rental. 

Thanks in advance for the insight!! 

Keywords:

Virginia,DMV,Maryland,Washington DC, DC, NOVA, Woodbridge, Fredericksburg, Stafford, Spotsylvania,Richmond, Charlottesville, Norfolk, Virginia Beach

Welcome @Duy Mao! Baltimore is an area with a lot of growth opportunities. As with any developing areas just be sure to connect with someone who knows the turf as it changes block to block sometimes. Looks like you're on the right track with that already, just 2 cents. 

Best of luck to you, you're in the right place to get a lot of the info you need to make sound investing decisions moving forward. 

Welcome to BP! ;)

I didn't know that incentive existed @Jay Hinrichs , thanks for sharing. I just looked it up and read some about the Katrina program.

In the case something like this was enacted there, how are you going about making buying decisions in Houston? 

Are you familiar with the area or have a connection with MLS access? Also are you looking to buy lots and build yourself or is the main benefit when you fix existing damaged properties?

Welcome to BP @Marcus Mcvay!

Thank you all for the feedback. I should have been more clear, my goal is not to make money here, I was just giving an approximation of it's value. 

I would be happy to donate it to a charity or give it to someone who wanted it, I just didn't know if I was able to without titling it and such. 

This guy was waiting for us in the back yard of a rehab project we just bought. I have no experience buying and selling boats so I am looking for a little guidance.

From my research it looks as if I am supposed to reach out to the previous owner and give them a chance to claim the boat. We bought this house from an estate, the gentleman had no heirs to pass property to. So I'm assuming I am off the hook there. Also it looks like the titling process could take a while, maybe longer than I'll have the house. In this case I wonder if it would be worth it to try and sell it with a salvaged title.

Any advice helps, thanks.

For the record it looks to be a late 80's model Catalina 22 sail boat. Retail from $4-8k in good condition.