All Forum Posts by: Kristina Inglis

@Manolo D.   Would you mind explaining the difference between treated vs abated?  I would just like to be somewhat educated on the matter before I talk with a contractor that I might hire.    Thanks for taking the time to respond.  I appreciate it! 

@Robert Car not sure.  I haven't visiting the property yet.  The listing includes a disclosure about the lead based paint.  Since this topic is very new to me, I thought I'd ask just to get a basic idea to understand what I may be up against.   What does encapsulated mean?   I guess my question is, would children be able to live in an place where lead based paint wasn't removed?   Many thanks for your input!

Hi, 

I'm looking into purchasing a 3 bedroom townhome in Alexandria VA (1,142 sqf living area) which has lead based paint. It was built in 1974. Can anyone offer an approximation for how much it would cost to remove the lead based paint?

Many thanks! 

Yes, they do have a written lease which terminates on 8/31/16.  The current owner has said that the tenant is open to staying.   I don't want to rely on that, however.  I'm really conflicted on which rent income number to use.  Rentometer says the average is $2,000 and from what I can see from looking at zillow and other current rental properties in the area  it can range from $1,500 through $2,200.  Am thinking $2,000 is a safe number.  Which, doesn't create a positive cash flow for me.  :(

Thanks Nicole.  Renter pays all utilities on top of the $3,000 per month.   I *think* the renter will stay but am uncertain for how long.  

Hello,  A friend of mine is selling his SF home in Owings Mills (4 bedrooms 3 baths) and I'm trying to determine an accurate amount of what I can expect for rental income.  I've checked rentometer.com, zillow.com etc but I'd also like to hear from real estate professionals that live in that area and who may also be more knowledgeable about current rent prices.   The current renter pays $3000 a month but it seems to me that she is paying on the high end and I am not sure it is realistic for me to think I could get that amount from the next renter?  Some details about the home:

I will be reaching out to a few real estate agents in the area but first I wanted to start here to see if anyone had any good information that would allow me to conclude on a reasonable monthly rental income amount for my analysis. 

Many Thanks!

Thank you, all, for your input/advice/tips and encouragement.  Really appreciate it!

Hi @Tanya S. - thanks so much, I'll get in touch with Upen.   I actually am looking to buy and hold (rent) but from what I can tell, the property will need a bit of rehab/updating before it can be rented out.  Maybe rehab is not the best term to use?  I am not looking to make huge updates, just enough to add a little value and make the property a desirable rental.  What do you do for your buy and holds?  

Many Thanks,

Kristina

Hi, 

I have been stalking a SFH that is 'coming soon' to market and so I called on it today. It looks like a great property to rehab and rent out. The home has not be kept up very well, the landscaping is all over grown and it is being sold as is. This is a great opportunity since it is located in an expensive market (Arlington VA) and it is hard to find low cost deals around here. This will be my first deal and I was very excited about it until the realtor told me that another investor had come out to look at the property today and is making an all cash offer on the home. How do I even compete with that? Or maybe that's just it, I don't? I cannot put down all cash (it would be mid $500k) so should I just forget about this deal and move on? Are there any other strategies or angles I could use / take that would allow me to have a fighting chance if I threw my hat in the ring?

Many thanks,

kristina 

Hi, 

I'm looking to possibly buy a SFH to rehab and rent out. This will be my first purchase from an investment perspective and I need to line up funding. The offering price of the home is mid $500K - is it true that I will likely NOT find funding for less than 75% loan to value? I only have approx $50 - $70k to put down. Can anyone suggest any other options that I might have other than finding an investor? Also, any recommendations for lenders in or around Arlington VA / Norther VA?

Many Thanks,

Kristina