All Forum Posts by: Lou LaMedica

Hi @Bill Kenny - thanks for connecting! I am really impressed by the meetup group that you have put together. Congratulations on building a business and a generous community. I have it on my calendar to be there on the 24th. I look forward to meeting yourself and Mike and the group that you have there. 

@Brandon L. That's a great idea! Anyone want to grab some coffee on Sunday? I live in Sterling but am open to any other locations. Would love to learn more about your story and how you are investing in this expensive area. 

@Brandon L. That's wonderful! I would be interested to hear about what kind of investments you have had that have positive cash flow out there - are you finding multi-families? Are you able to find properties that are not too old that require a lot of maintenance? 

Great post @Daniel Krantz - congratulations!! A lot of hard work went into that deal and now you have a great playbook going forward. 

I am looking to invest outside of my area and was looking to put a team in place. Who was the first person you found on your team and how did you find them? I would really like to learn more about that process. It seems to me that if you can build a great team from afar, then you have a scalable model to grow your real estate portfolio. 

Just finished the inspirational podcast 301 about out-of-state investing. What @Alexander Felice said about having an unlimited opportunity to find the right market really hit home.

While initially, this strategy seemed so risky because of the distance and not being able to check in on our investments, I believe that with a few deals behind me, I can leverage the skills I have built building my catering business into building a great support team. I reside in a very expensive market as well.

My question to you is if could start your real estate journey again in any area, where would you be focusing and why?

@Daniel P. Great, I will add you and then next time I am heading out that way we can meet up. What kind of properties do you have in Winchester and Inwood, WV? Any preference for either of those locations?

@Nik Moushon Wow -really informative post! That is a great point about the train to DC in Martinsburg. I've been to the VA Hospital out there and liked the area. I've found a few multifamily in the 100-110k range that seemed to be priced reasonably on MLS. My next step is to find out about vacancy rates and crime out there - I don't really have a feel for that market yet.

Sorry to hear about the loss when you left Winchester. From what I have heard, the development out there has slowed down again recently. We live in Loudoun and there are townhomes going up everywhere but they are all priced at top dollar. 

When you say market types and market areas are you referring to secondary and tertiary markets? Due to inexperience with real estate, we are looking for a market that we can drive to within an hour of our house. I like the economies of scale inherent in multi-family so that is why we are looking at that. I do not think we would be able to purchase a sfr along 66 with acreage - they are going for at least 350-400 which makes a down payment a little beyond what we can do to accomplish our 2019 goal of getting our first deal in the books. 

Hi @Heather Skowronsky Thanks for being first! Do you have a cutoff year at which you tend to shy away from projects? We are looking at multi-families in Martinsburg, WV which seem to be priced reasonably, but they have certainly got some age to them.  

@TJ Park I am a rookie, but from what I've read, you want to price PM fees into your calculations when determining your ROI. That way, you have built in an exit strategy. Also, if you are working those types of hours, I would think the only way to make it work for you, would be to have a PM, to keep your sanity.

@Ibn Abney Thanks for sharing! I will keep this list in mind.