All Forum Posts by: Kyle Forbes

Thanks so much for the market analysis guys!

Thanks so much for the input guys! I'm going to pay for the pro membership and post one of the deals I'm looking at where I think I can get 2% of my all in price in gross rent. When I post that deal I'd be very interested in both of your inputs. I'll keep in mind what you said about the multi families and the bad tenants, and if I do go that route I'll make sure I screen well, but what do you think about the multi families in park place that were built in the 20's that can be acquired for less than 30,000 or so per unit?

Hello everyone! I'm looking at trying to find a small multi family in the Norfolk, Virginia Beach, Chesapeake ( Hampton Roads ) etc. and I'm wondering what are some good areas to invest in as well as what are some areas to avoid investing in. In Norfolk around 35th and Llewellyn it is such a weird area. Some streets look nice, but maybe one street over it could maybe be a war zone. Is this a bad place to invest? Also in the Norfolk area I'm having trouble finding what the ARV for a small multi would be, which is making it difficult to try to analyze deals. I understand this is a broad question, but if it's at all possible to answer even if through an example, what does a fixed up multi successfully sell for?

Okay, thanks! I won't be able to make that one because I'm underway, but I'll check it out!

Can anyone recommend high quality accountants, real estate lawyers, contractors, and title companies in the Virginia Beach / Norfolk / Chesapeake area? Who do you use and why?

Yes, Thanks! 

So say I get a duplex for $60,000. I know I need to put $15,000 into it for repairs, but the ARV is $100,000.

3 questions:

Would I be able to get a loan from the bank for $75,000?

When I refinance after 6 months to pull my money out would I be able to switch to a conventional loan, whether or not I got one in the first place?

When I refinance would I get the full $100,000 back?

Thanks for replying to my post. I started reading it, but didn't realize that there was a video for it. Much appreciated!

How's it going @Tony Stephenson? I'm also stationed in Norfolk and am just starting out as a real estate investor. Let me know when you get your first deal!

Hello everyone! I'm a new REI-to be and just moved to Norfolk where I was assigned to the Dwight D. Eisenhower. I intend to overcome the obstacle of the busy Navy life and getting qualified on my ship. My goal is $30,000 profit my first year trading in the radius within 1.5-2 hours away from Norfolk!