All Forum Posts by: Elizabeth Nourse

@Dan Hill

Didn't realize you had posted back to me after my intro- sorry about that! 
Yes. I'm an active member of Capital REI, which is a really great meet up that meets once a month in Fairfax City. It's run by a really good group of guys-@John Rubino, @Justin Pierce, and @Roger Lin. Very nice group that's not 100% sales focused like many of the other meetups. Hopefully you can attend an event and get value from it!  

We're hosting a Capital REI event at my office in early December if you are interested. We're speaking about how to close out a year and goals for next year- I'm hoping to have a CPA present on how we can do a good job "closing the books".

I'd be happy to talk to you and send an invite if you are interested.... Feel free to reach out.

Liz

@Michael Showalter

Sure- happy to help. If I had to pick between those two, I'd probably go with Ryan, but it's a close call.  They are all production builders and aren't going to be using fantastic materials. Things like screwing the plywood under the floor, versus just nailing is just one example.  The nicer builders will screw it, so it keeps the flooring more even and reduces squeaks. The production guys don't bother.  There are many things like that- too much to list, but if you want to get more details feel free to reach out (only if you don't have an agent already- I don't want to take someone else's client! :) ). 

The main thing is you want to make sure you understand the contract with the builder in a VERY high level of detail.  If you have an agent, get them to really read it and explain every bit of it to you (if they don't do builder business a lot, buy an hour from an attorney if you can. It's cheap compared to the investment).  There are things you can work into these deals which can protect you a bit more, but you have to ask and structure it right. Some builders will do more than others..... 

There are also proprietary data services which provide stats on individual builders and their projects. I have access to those and they help figure out the pace the project has been selling at and how much the builder might try to discount/ offer other things not mentioned by the sales rep.  The upgrades are generally quite marked up too. Try to find out which ones you can do cheaper yourself prior to making your selections to avoid paying 50% or event 100% more than you should! (I can help w/ this too if you want).  Try to get a sense for the other businesses they are selling you too- the financing is incentives but can be marked up.  It pays to be careful about mortgage/ title/ insurance services too if those are offered. :) 

Hope that helps you!!!

Welcome to Virginia- I'd recommend try to take advantage of local meet up groups, it's a great way for someone starting out to get their feet wet and network. And good luck!

Liz

@Benjamin Kwendi  

If you're interested, I might be able to help you- I'm a broker and I really enjoy working with investors across the region. Please check out my profile and let me know if you're interested in getting some help. And good luck on your journey!

Liz

@Upen Patel Thanks!

Yes, I have a number of agents that only work their own business. Not sure if I can cover Richmond, but feel free to message me and we can chat a bit about it and see what might make sense.  We're a 100% commission brokerage w/ no monthly fees. It works well for investors, we only charge a transaction fee for each deal. 

Hope that helps!!
Liz

@Karen Martin

Welcome to BP! I'm not sure what type of lender you might be needing, but there are lots of them on this site. I'd try posting the specifics of the deal in the lender section and see what happens. 

@Account Closed Greetings from the other side of Virginia. :) 

I'm a real estate broker in Virginia and DC.  

The easiest way to get your license classes done, online in VA is to take Moseley Real Estate classes. I recommend them for anyone that doesn't want to sit through the classroom hours. They are fairly comprehensive and you can purchase books as well, to help cover all the material. Once you have your license, you'll also have to take quite a few additional classes in your first year. These can also be done online through Moseley.
Hope that helps. 

@Monica Wright

Welcome to BP and good for you.  I wish more people thought more carefully about what they want in life and how best to get there. There isn't anything more important.  :) 

Let me know if there's anything I can ever do to help you.  I'm always happy to help people get started on their journey. 

Liz

@John O.

Welcome to BP.  Nice to have another person that's in the Johns Hopkins Master's business school!  I completed their real estate program in real estate a few years ago. Great people and great connections.  

@Devin Mann 

I'm sorry it's been hard for you. I'd go a different way than some of these recommendations...

I'd recommend seeking out the most  busy/ productive agents in your market. Offer to work for them. For very, very little.  Take their scraps. Like one of those little fish in the ocean that hang around sharks! 

Sooner or later one of two things will happen: 1. You will learn from the shark and be able to survive yourself. 2. You'll be happy being a little fish, feeding off of a productive shark.  

Honestly, the failure rate for new agents is VERY high. Your most probable chance of survival might just be reaching out and trying to add value to someone else that needs the help.  I'm a broker and I do this for some of my agents.