All Forum Posts by: Humphrey Piccus

Is Virginia friendly?

Is Virginia friendly to landlords??

This does help. Thank You Brandon. It helps me get my arms around the concept. Now that I understand the concept better, I can set targets for each part of the puzzle.This helps with putting together a plan. 

I always thought of appreciation as the increase in value that happens over time. I will consider the immediate gains coming from two other sources, one from making repairs and taking care of deferred maintenance. The other immediate gain will come from improvements, such as adding better landscaping or updating the kitchens. By separating out these items, I can more easily plan better and spot areas to add value. 

I think there's more than one way to skin a potato. My mind likes to see the pieces, but everybody's different.

Thanks Brandon

Ya, that's a good point. There are variables that you can't put into numbers. Some things are more subjective that indicate either hidden value or hidden problems. Its like a gut-feel or intuition. These signs indicate some deeper issue. I see your point. Thanks Carrie.

Yes, I agree with you, Donald. Your numbers make sense. For some reason, Brandon has a 10% appreciation in all his examples, even in the little 7-years-to-7-figure-wealth book, and this I do not get. My only guess is he might be lumping some numbers together?

In Brandon's recent webinar, "How To Make One Million Through Real Estate Investing", Brandon says to take the after repair value and subtract 20% for the price you pay. He says it's worth 150,000 and buy it for 120,000. He also says to expect 10% forced appreciation in the first year, resulting from your updates and repairs you do to the property. It seems he is doubling the appreciation from repairing it. If the after repair value is 150K, why would it go up another 15K in one year resulting from you repairing the property?

sounds to me like you are letting your personal opinions guide you, and that's unprofessional. For example, if your tenant sleeps until 10:30 and drinks beer that is none of your business. And its a poor reason for a business decision. What matters is the numbers: things like the rent being paid in full, cost of repairs, cost of upgrades, cash return on investment. As long as the tenant has steady work, pays the rent, and does not damage the place, then he's a good tenant. How late he sleeps is his business; you're not his mother. These are business decisions; treat them as such. Inspect the property, put together a cost estimate and valuation estimate, screen the tenants properly for credit and income, put together a well thought out lease, and evict them if the tenant violates it. If your profit is good and the rent is paid, everybody's happy.

maybe i was not clear what i'm looking to find out. what city has good growth for demand versus supply in multifamily? where can i make some money investing in multifamily - for long term investing? Is that clear? I want to make money, not pay too much, good ROI, value investing. I will need lots of renters and need few investors driving up property prices. What city has this?

Looking to get some multifamily. Many cities I've visited seem over-priced. Lots of investors from out of town and new-in-town have driven up the prices the few years. Do any of you investors see any cities that show potential? Any places that are undervalued? Do you have good reason to believe the city has a lot of upside potential? 

you say that you sent "them" the notice to terminate within 7 days. Who is "them"? Do you have documentation that notice was sent to the seller or simply to the agent? Who is them?