All Forum Posts by: Harshavardhan Challa

Hi, One of my townhome rental in Hampton, VA recently encountered a fire accident and unfortunately resulted in a total loss. The insurance adjusted (IA) mentioned, it will have to be re-constructed along with adjacent townhomes as well (total 2 rebuilds and 1 partial rebuild). Mine is in the center and cause of fire. Currently, IA is working towards the damage repair estimate.

1. Should I hire any Public adjuster on any legal help on my own to help me with insurance estimates and any potential liability issues ? 

2. 2 general contractors approached me for reconstruction. One of them already is committed to rebuild the two adjacent townhomes. What parameters I need to check before finalizing one. 

Any information in this regard will be highly appreciated. thank you. 

@Patrick Bavaro

Hi Patrick. Nice to know you are already working with them. I am also interested to work with them. I will look forward for your experience in the mew builds.

@AJ Singh that’s a good point

@Whitney Hutten Hi whitney, i was just following this thread. They are all great strategies to exit out. Can you share which turnkey you have worked with (i'd assume Out of state) ? When you planned getting a turnkey, did you also plan a potential exit strategy before going through the closing ? and if yes, how did it work out ? Thanks 

@Carlos Lizarraga Hello carlos, welcome to VA. I am also a newbie investor looking into norfolk and Hampton roads area. I have been following the forums to gather very valuable information. Right now I am travelling for work through the forums, I realized about a meet up Tidewater Real Estate Investment Group.. I was planning to attend it when I am back to Norfolk. I believe that gives new investors many connections and information for guidance. Also I had this link bookmarked since it has good info.

https://www.biggerpockets.com/forums/768/topics/802218-investing-in-norfolk-va-area

https://www.biggerpockets.com/forums/768/topics/273602-norfolk-a-good-place-for-investing 

@Aaron M. Good timing for this question (atleast in my case). I was looking at couple turnkey options for an out of state investment as well. This thread gave very valuable perspective to look at if turnkey is choosen as an investment. 

@Nicholas Sheridan 

It is always nice to see new success stories (for motivation to new investors like me) with the first venture completed in hand. Congratulations.