All Forum Posts by: Tracy Mason

HI @Dawn Johnson welcome to the family. I would suggest attending your local REIA meetings. I found those to be extremely helpful when looking for partners, mentors and general information about your market.

You can also connect with real estate professionals in your area by clicking the "Network" tab and inserting your zip code. BP will do a search and give you other locals in your market. There are a lot of great professionals in Virginia. Hope to see you around!

I hope this helps!

Hi @Brandy Burhns welcome to the family. I think getting your license is great. I would also suggest attending your local REIA meetings. I found those to be extremely helpful when looking for partners, mentors and general information about your market.

You can also connect with real estate professionals in your area by clicking the "Network" tab and inserting your zip code. BP will do a search and give you other locals in your market.

I hope this helps!

Hi Guyoz, the Richmond VA market is doing pretty well. It is listed as one of the top 10 cities to relocate to. It also is becoming a melting pot for young professionals.

Check this out Top 10

Our market is starting to rebound, so property appreciation is slowly on the rise. New employers are finding their way here as well. We're about 1 1/2 from DC and 2 hours from Maryland. If you're looking to buy and hold make sure you invest closer to where the new jobs will pop up.

I hope this peaked your interest. Good luck brother!

Anyone have good advice on screening investment partners? I don't necessarily need a partner from heaven but I certainly don't want one from hell.

I'm currently experiencing a situation in where I've paid to setup an LLC, generated a business plan and even took days off work to make sure this joint venture is setup correctly.

The issue is my prospective partner has had bad partnerships in the past and now his mother in law, who is a retired mortgage loan officer, has a heavy influence on his decision making which impedes our progress. I don't really know them and they don't know me but the great thing about this business is networking and venture projects. I personally feel that I've invested too much time already and think he should probably straighten out his personal life before investing. A partnership is like a marriage. Must I be tied to his entire family.....?

My business partner and I recently made an offer on a REO. Great opportunity to cash flow, 10% COC return and forced appreciation due to bank renovations.

Why did I say no?.... Well after two days of intense negotiations the bank stood firm on a purchase price that would have caused me to sacrifice my numbers and desired return and I SAID NO.

I tapped out because I followed the advice of BP by having investment criteria. I didn't become emotionally attached to the deal and when I noticed it wasn't going in the right direction I back off the offer.

As a new investor I'm glad I had this experience and even more excited I said NO.

Has anyone else walked away from a deal that looked great in the beginning but took a turn the other way?

Hello everyone. I'm very excited to join the BP family. Currently in Richmond VA, I'm a young, abicious, eager to learn investor who is currently waiting on the bank to accept my offer on my first rental property. I look forward to new networking oppurtnuties. I've been to 1 RIEA meeting in Richmond VA and it totally rocked my world. After that meeting I knew real estate investing was made for me! Cant wait to connect with other like minded folks!

Hello everyone. I'm very excited to join the BP family. Currently in Richmond VA, I'm a young, abicious, eager to learn investor who is currently waiting on the bank to accept my offer on my first rental property. I look forward to new networking oppurtnuties. I've been to 1 RIEA meeting in Richmond VA and it totally rocked my world. After that meeting I knew real estate investing was made for me! Cant wait to connect with other like minded folks!

This information is good to know. Also makes a lot of sense.