All Forum Posts by: Jon Deavers

Hey Trae, Welcome to the site and to the River City (belated). Lots to love about BP so dive right in. I especially recommend the podcasts. Speaking of REIA meetings, there is one in town this Thursday. You can find details by searching Richmond REIA on meetup.com. It will be the first one for me too and I'm looking forward to it. Hope to see you around town!

Hey Jason! Welcome to the site. There's a world of knowledge and a ton of great people around here. Richmond's a great market for investing. I'd be glad to meet up and talk sometime. I'd like to discuss your HVAC background. I get requests on a regular basis looking for referrals for work. I'll send you a colleague request with my cell # so we can catch up and schedule a time to chat.

I'm with you @Scott Gombar 

It seems, especially in the RE sales space, that the industry is almost ignoring the way that most consumers go to market today. It may be that Trulia, Zillow, Realtor.com are very well designed aggregate sites and agents just don't feel the need to localize it, but it's pretty shocking how little faith is placed in developing a branded web presence. Plus, it's just plain unprofessional to shortcut grammar and punctuation in any medium and the free email domain names are a major red flag too. You'd be surprised how many properties are listed in the MLS with an @gmail @ yahoo etc. domain address.

Do you know if you can add words in with a negative modifier to exclude certain posts?

Example: if I want to see news about Richmond Virginia I could add a negative modifier to exclude Texas (i.e. -TX) and it filters out Texas posts?

Either way, great addition guys! Thanks for all you do.

BTW, zeeloporp sounds very Douglas Adams. So long and thanks for all the fish!

@Russell Ponce I think what Tyrus is saying, is that you must disclose to the seller that you are an agent as you write the contract since you are essentially the person buying their home from them. If you use the MLS (at least in VA) to list that property afterwards, you could be perceived to be circumventing the system to secure a net listing, which is illegal (again, at least here in VA). Agent compensation can be a percentage of sale price or a flat fee, but you cannot take a net listing where you guarantee the seller X number of dollars and then keep anything the property sells for above that.

IMO, I would either plan to wholesale or be a licensed agent but not both. Definitely creates some muddy waters that outweigh the benefits of MLS access.

Hey Chris,

I'm not familiar with the Roanoke market but if you're up in Richmond some time, give me a shout. There are lots of opportunities here and I'd be happy to show you around town and give you some background on the different neighborhoods.

Until then, best of luck and have a happy summer!

I agree with Robert. You should list the properties the way they are actually configured and may want to run your listing strategy by your attorney to make sure you are complying with all local regulations especially fair housing laws.

BTW, that $100 per door number was just a rough estimate  using basic 15% down conventional investment mortgage , taxes, insurance, and assumes full list pricing. 

It's really a mixed bag in most neighborhoods in the city limits. There are not many I would say to absolutely stay away from. A lot of the historic neighborhoods have great blocks right next to not so great blocks, so you really need to see it first hand before buying something. That said, I've seen a decent amount of 2-4 plexes on the mls that would cash flow at 100$ per door with minimal repair (many units currently rented). A piece of advice on any area in the city limits is to check with your accountant and the city planning office because there are quite a few properties that can qualify for historic building credits under certain circumstances.  Give me a call sometime and I can go into some more specific detail on the city and set up some search criteria for you so I can keep you posted on properties as they come on the market or into the office pre-listing.

Hello BP!

I'm an investor-focused Realtor in Richmond, VA and I'm available to help you achieve your investment goals. Whether you're searching for your first property or you are an experienced deal-hunter wanting to scale your business and have someone bring the deals to you, I can merge my knowledge of the metro area and access to the market with your investment criteria to consistently deliver profitable deals anywhere in Central Virginia.

My goal is to build lasting professional relationships with investors and provide value to grow both your business and mine. So whether you are local to Virginia or looking to expand your business to a new market, call or email me today to schedule a consultation or showing.