All Forum Posts by: Nick Ye

@Samire Radman The meet up is on first Thursday of each month. Look up Rappahannock REIA on meetup.com

Best luck with your real estate journey. 

@Levi T. Those are great numbers. It is a little bit different than how we would normally proceed with this type of property but I'm sure it would work out just fine. At the end of the day, it is a number game.

You mentioned that you needed $15k in cash to close this deal. Does it mean that you have to finance through a bank or other resources for the balance of required funding? If so, do you mind sharing some details on that?

Welcome to BP family. 

Hi Levi, congrads on the new deals. I as well had looked at and made offer on the S. Stafford townhouse. I think your 8k repair cost maybe a bit low. I remember it needs new roof, new hvac system or some other big ticket items. Anyway, buying new properties is always good thing as price in Stafford and Fredericksburg is raising quickly. 

First of all, Welcome! I have been investing in Fredericksburg for a couple years. One thing I know about this area is that there are not that many small multi in this area. You can occasionally find duplex but not much tri or quad. With that said, it doesn't mean that you can't house hack. I would recommend you start with a reasonable TH or SFR and try rent out a room or two. The rent you collect from the rooms should most likely cover your mortgage. It doesn't take a multi to house hack. Best luck.

I'm not a general contractor but we are specialized in natural stone and Quartz countertop. I will be more than happy to help if you need countertop products for your future projects. Good luck with GC search.

Rental market in Fredericksburg is still going strong. $800-$900 is at the low end of rental rate in Fredericksburg market. You will be facing challenging tenants. There will always be people looking to rent the problem is placing the right one in your property. Sometimes you would be better off having a vacant property than a bad tenant. Good luck with your new investment.

Hi Alexis, welcome to BP. I'm a cash investor focusing at Stafford and Fredericksburg area. I'd like to see if there is any way to work together on future deals. 

Great advices from other posts. I have never been in this situation but would most definitely do as suggested by others. Just say No!

No more easy money easy deal. Stick with fundamental. Let the power of compound rate of return do its work. Hold for long till the next bubble and bust.