All Forum Posts by: Jordan Perryman

@Jake Guhy looks nice. You're right, manchester is really growing, as is a lot of the greater Richmond area. I'm on my second house hack. Did one in Fredericksburg, and now I'm doing one in the west end of Richmond. I'm several months from getting ready to rent this one out. Rents have really gone up in the area since I moved here a few years ago. I rented before buying and paid about $1/sqft in the west end. I am now getting over $1/sqft in each of my Hopewell rentals. Keep up the good work.

@Dustin Smith I am holding onto my Hopewell rentals, but my tenants have been good so far. Your cashflow would be really nice if you fixed it and rented it out again. I'm not telling you what to do, but don't let one tenant during a pandemic discourage you. Make sure you sell for the right reasons.

Im having a hard time finding cashflowing houses in this market, so if cashflow is what you are looking for, I'd try to find a new cashflowing property before quickly unloading this one. I've cash-out refinanced one of my rentals, and I am just holding cash trying to find a house that meets my criteria. Let me know if you decide to sell it, I may have interest. Also, if you just want to talk about anything (landlording and tenant screening, etc), just reach out.

@Jim K. Put a wirenut on the red wire at both ends, and you should also install a green ground screw in the receptacle box and wrap that ground wire around it, then install the end of that ground onto the receptacle. Let me know if you have any questions.

Juwan, I live in Richmond too. I am a rental property investor. Do you have the deal under contract, or is that where you need help? I'll help the best I can. 

@Brian Kantor did you have any luck getting financing? I'll be attempting to do the same here in VA in a month or so. I've got a local credit union that I'm hoping pulls through for me.

Hello everyone,

I am searching for reliable contractors in the Richmond and Tri-cities areas. I have a house run Hopewell that I am renovating to rent out and another in the same area that will be coming up shortly. I have plumbing and electrical covered, but would love to find a GC or flooring/drywall/insulation contractors. Please let me know if you have any recommendations. Thanks so much.

Hello everyone, I purchased a home in the southside of Richmond, VA, which is a blue-collar area with cheap houses and decent rents. While I was renovating, the lady that owns the neighboring house approached me and said she was looking to sell. I don't have the 20% down currently, and when discussing sub2 she seemed uneasy, so we are trying to put an agreement in place that will allow me to purchase the house within a 1 year time frame for a set purchase price of $45k. I will pay her a deposit of $3000 (leaving $42k once we go to purchase), half of which will be refundable any time in that year if we decide to back out or can't get financing. In the mean time I will manage the property for her and we will split profits above the PITI until we purchase. She will be responsible for repair costs. What type of written document should we put together? What issues do you see with this type of transaction? I really appreciate any feedback you can give.

Hey guys, 

A co-worker (from Chester) and I are teaming up to start real estate investing in the Richmond area as well. I just moved to Henrico county from Fredericksburg, where I just sold my live-in-flip. I have 12 years of plumbing/electrical experience, and I know many facets of residential remodeling. I am now an accountant for a state agency, and I am just tired of working for others and having nothing to show for it. We went to our local REIA meeting last week and met some good contacts pretty quickly. We are likely going to fix and flip a couple SFH's to start, and then buy and hold moving forward (all depends on the deal and location of homes though). Let me know what you guys are doing, and maybe we can collaborate or share deals if they aren't the right fit for our personal needs/wants. Have a good day.