All Forum Posts by: Jonathan Jordan

Hello Ebony,

I would be interested in hearing more about the deals you have in Hampton Roads. My email is [email protected]

Sad I missed this when it was posted, but would also love to be added to the list. [email protected]

Thank you all for your replies!! Very helpful!!

Hello all,

The below questions come from a landlord friend of mine I help out on occasion:

Wondering if anyone out there requires paid (I use aparments.com) applications to be submitted before showings? With the plethora of pictures you are able to post online, virtual walkthroughs potentially available, etc, the idea hit me as a way to potentially eliminate people not showing up for scheduled showings. 

Speaking of applications, how much do you charge for an application fee? Of course using apartments.com it collects the $29.99 +tax directly from the applicant. Looking in my area it seems a lot of companies charge between $50-75 (the state has no cap on fees). I would like to be able to pay an assistant to call and check references, work history, etc. so have thought about potentially charging a second fee after they see the property which would go to the assistant to make calls. In my head this seems like it could logistically be problematic as they would be paying a fee with no new information as in theory all the information was submitted in the apartments.com application. So would be going to them and saying, "You have seen the property, I now need a second fee to finish checking your application if you are still interested"

Thank you all for your help!

Hello all,
Writing to get some bookkeeping advice. I am looking to move up from just excel spreadsheets and it appears that Quickbooks is the most liked option. Writing to see opinions/options on bookkeeping software and for those using Quickbooks the consensus between desktop and online (and then in online which tier seems best). I do BRRR and am getting into new construction so looking for a software that can show cashflow, can track projects and project budgets, as well as that can do entity reporting. Thanks for your help!!

Hello all,

I have purchased a few properties for investment, but am looking to finally have a primary residence. I have found a quadplex that I plan on house hacking and was originally going to get an FHA loan on the property as that is what I have always heard. In talking to a mortgage lender she was saying that with the insurance FHA charges, and the PMI, it may be better to get a conventional loan as the rates for FHA and conventional are very similar (4.375%, 4.5%). I do have 20% I could put down for the conventional, but wondering if it would be better to save some of that money to put into other deals/investments? In running the numbers through the BP calculators, the conventional gets me better cashflow, but the FHA has better Cash on Cash.

Thoughts?

We use Bill Cooper Jr of State Farm for insurance on our rentals. 

Hello all,

Writing to see if anyone has a suggestion for an awesome property manager who has taken care of your rental property in the Hampton Roads area? 

Thanks in advance! 

P.S. I tried to post this in the Virginia real estate forum, but it kept coming up with an error message (I am on an iPhone). @Account Closed

@Larry Wilson - Welcome to the area! My family and I are active investors in the Hampton Roads area and are always looking to make connections!

@Melanie McDaniel - I will have to do a better job of keeping an eye out for the monthly BP meet up! 

Hello @Anthony Riddick,

I am based in Virginia Beach and would be interesting in connecting.

Jon J.