All Forum Posts by: Kevin Sack

Welcome! The area is hot and deals are tough to come by. Wishing you best of luck

Hampton Roads is not the area for "Value Investing" as you describe it. There are so many people looking for good deals that you have to find something else to bring to the table. Might I recommend value add investing? There's 5-10 foreclosures a day that I get sent, many of which just need some TLC. If you can find something weathered and rehab it, you might be able to find your niche.

It's a fine balance. I had a 1/1 listed in Portsmouth for about a month at around 725 all tenant paid utilities. Couple qualified applicants but no one signed. Dropped the price to 695 and it was rented almost instantly. Without knowing the location and condition of your place, I can't help with a rent analysis but rentometer is a good starting point. I also pay a PM so they will always send back currently rents for my area when I'm considering a buying a new place.

Excellent return on your time and money. Keep that up and you have yourself a solid income!

You need to decide if you want to go the duplex route and rent the other side. Duplex route will give you some privacy and will about cover your PITI costs. If you go the single family route and rent rooms, you might be able to come out a little ahead depending on the size and location of the house. If it were me, I'd go the duplex route and move every year or two to continue to grow the portfolio. For the market itself, I personally think it is over-priced for the average buy and hold investor.

I love the power of multis! I've only been a distance investor and am investing in an areas I've only visited a few times. Biggest hurdle is building your team and getting to know the market. You already have a leg up by being a local investor before moving away. You should have no troubles continuing to invest in VA!

Spend some time searching the forums for Lubbock/Texas Tech and you'll see that the market is over-saturated at the moment. Between the school building more housing and investors seeing the opportunity, there's just too much supply right now.

I would caution you as pricing right now on almost everything on the MLS is overpriced and will struggle to cash flow unless you can find a killer deal or find alternative financing. I've been looking for my second MFH since I bought a triplex in February and have struggled to find anything with decent numbers.

@Ryan Smith you're exactly the kind of guy I am looking for. I am out of state looking to break into the BRRRR market in the area. PM me your info and we can link up off the forums.

If you are serious about investing out of state and in the Hampton Roads area, get @Patti Robertson on your team. She manages my property in the area and her team is crushing it!