All Forum Posts by: Jacob Sloop

Just sent you a message !

I’m an investor / agent in the Virginia Beach market

Sent you a message !

I’m the Norfolk market as well

Welcome Zachary !

I just messaged you !  I’m an investor and agent in the area that would loves helping people get started 

What’s up Joey !

I’ll keep my ear to the ground if anything in this space pops up,  I just heard about this on a BP podcast

What part of Virginia?

I have a guy I can recommend, I’m in Virginia Beach / Hampton Roads market 

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $365,000

Contributors:
Frank A Castro

Helped client do Live in flip/ BRRRR deal in Virginia beach while renting out their current house using a VA loan with little cash out of pocket!

100k in equity after rehab and cash flowing rental once they move onto next deal

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

Helping client fulfil their investment journey

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

MLS

How did you finance this deal?

VA loan

How did you add value to the deal?

Buyer got closing assistance and will rehab property

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Me

So you are moving to one of these markets?

You will be required to live in the property for FHA is why I'm verifying ..

I think the First step is reach out to a lender when you decide and get pre approved . Find a good mortgage broker, You need to know your budget and get an idea of monthly payments

First off congrats on making a purchase!!

There is a mid term rental group local run by @Mel Volland that would be a great source of info


For a residential loan they are going to use the sales comparison approach for value most likely so income is not a factor..     I have gotten a commercial loan product for a duplex that used income for the appraisal and it was very favorable outcome

I’m in Virginia Beach/Hampton Roads market.  If anything pops up I will let you know !

Absolutely but that is something you have to figure out for you situation.


Contact a lender / mortgage broker preferably 

They will get you an idea of what you can afford and what payments will be

Then find a local agent to guide you with that info