All Forum Posts by: Justin Dyer

I'm with @Michael Radney on using Avail. I'm currently self-managing one property, in talks for a second, and will use Avail for that one as well. I pay the "premium" of $5/mo. which gives fee-free ACH payments for my tenants. One of the biggest pros is that they provide simple leases. They are digitally signed so it helps keep your records. Listing also surprised me. It is free across about six sites so you create it on Avail and it posts to all of their affiliates. There is a $60(?) application fee that will do a credit, criminal, and eviction report, which is great as well. You choose who pays that fee. Since starting the first year's lease, my tenants chose to pay via Zelle instead, at their request. I manually enter in the payment through the Avail website. It sends tenants and owners emails when the payment is almost due (2 days or so), due today, and past due without me having to do it. They have an online trouble ticketing system for when something goes wrong so you can have issues documented to protect both parties. I have a pretty good relationship with my tenant so when something happens, they can schedule someone to fix a clog or whatever, and I have the repair person send me a bill. I have people for certain things such as HVAC and serious plumbing issues, but they have found a great handyman that I would definitely use again. I don't bother documenting these events through the app, but if I had a problem tenant, I definitely would. 

Had a blast @Jin Lim; thanks for hosting. Met some awesome people last night.

I will swing by and talk REI! I also attend the Tyson's-based meetups.

I am interested in this one as well!

Although I am just researching multifamily for the near future, I will give you my thoughts. Better than nothing I hope. I currently self manage my first house out as my only rental. Moved into a new one a few months ago.

Regarding the state of the properties, there is potential to force value into the non-rehabbed units and raise the rent accordingly. Would get an inspection so you can find the true state of the property and make sure if there are any hidden capex hits, they are accounted for. It looks like it will cashflow, which is always good.

I would also consider rising inflation. Inflation destroys debt as Jason Hartman says. It also raises rents.

I hope more seasoned REI respond. Good luck, Cory!

My wife and I will be there again. Had a great time last month. 

My wife and I just started our journey. Moved out of our first home and just got the lease signed on it yesterday. I will try to make it on Tuesday. Will set a reminder now.

@Christopher Miller I live in Chantilly, East Gate/South Riding area. Bought a new TH the last few days of 2011 for $400K on a 4% 0 down VA Loan. I refinanced into a conventional this past October, 2.75%. With the amount I've paid down, my mortgage payment is $2K/mo and there is an $86/mo HOA. Rentals on my street are getting snatched up quickly for $3000-3100/mo. This TH should cashflow $900/mo less expenses/vacancy. Self-managing and using this experience to see if property management will be something I despise or like. We are buying a new TH in Prosperity Plains (Braddock & Gum Springs Rd). That TH went up $60K while it was still mud with a layer of gravel. We plan on renting this one out when we hit 20% equity as well.

The Plan: If we can get a mostly self-sufficient tenant, we will pull out some equity to use to fund the next property, which will NOT be in NOVA. While I love my current and future THs, and they are fairly safe in the Federal Govt. bubble of our area, it is not the best market for my wife and I. We are looking at TX, TN, and coastal areas in states south of VA.

Hi Raquel,

I am also a veteran. I bought my first house, a townhouse in Northern Virginia, back in 2011 with a $0/down VA Loan. I just refinanced out of it in October into a conventional loan. We signed papers on a new townhouse, basically the same as our current one, and it will be ready to move into late July. We have started getting this one ready for renting out (packing, painting, getting rid of things, FB marketplace, etc.). Next step is making sure my LLC is where it needs to be, setting up a small business checking account, Wells Fargo has been my go to for their low requirements and fees at startup. Then, I will subscribe to Quickbooks and create an account on Avail.co to list/rent this house. QB is mentioned so many times here, I feel like it is the best accounting app/software to start with. Been checking out various apps for the listing, management, leasing, and rent collection and I am being pulled towards Avail. I was going to go Cozy, also from reading so much about it on these forums, but they partnered with aparments.com and *most people seem to dislike that. I will replace my hot water heater as well before I start the rental process so I don't have to worry about it for the next decade.

This is what I am doing to start my journey. I hope it helps to see where someone is just a little bit further out than you. To me, it seems more realistic than hearing about 100+ doors. One thing is for sure, you have to have at least one to start! =D

We were working with a realtor to find our next home. She said people here are putting in offers +40K over asking with no contingencies. Crazy. We wound up signing a contract for a new construction TH 3 miles away from our current TH. We refi'd out of my VA loan in October and are moving to the new place around July. This one will be converted into our first rental. It will cashflow somewhere around 400/mo if I self manage. We have lived here 10 years and it appreciated about 150K. It may not be glorious when it comes to returns, but the neighborhood and location are fantastic.

I don't see D4D working here in the South Riding area, but there are older neighborhoods nestled nearby if you know where to look. Just a couple miles east, you can find an older neighborhood that is still priced in an affordable (for this area) range. Check out the neighborhood where Cub Run Road is. We were checking out a house there before we went with our new/future TH in the Prosperity Plains development.

Centerville and Sterling also have pretty solid value and haven't blown up as fast as surrounding areas. A lot more older construction there. Woodbridge, more specifically, the Lakeridge area are a lot more affordable and have some great neighborhoods.

I am just a regular dude, not a real estate professional, but I have been looking to find investments for years. Finally going to start this summer. I know it is not stellar returns, but this is just how I am going to begin. Good luck on your journey!