All Forum Posts by: Nicole Graves

@James Maness 

Suggestion from @Ayodeji Kuponiyi  of refinancing may be something to consider. Along with that, @Brandon Turner 's BRRRR strategy may be of interest to you. Here's a link of a video that covers it here on BP.  Hope everything works out.

@Ernest Quallis Congrats on your deals. I'm not a lawyer and am not giving legal advice. In setting up your LLC, however you do it, whether directly through the state or a place like Legal Zoom (which I've heard great things about), I would suggest having an experienced and trusted real estate attorney look over it to ensure that it is structured properly to protect you. You will most likely pay the same amount to have the attorney set it up as you would one of the other methods. In my experience it runs around $300-$400 in VA.

@Molly B. Welcome to BP!  I'm new to investing as well and have been trying to learn as much as I can here on BP. The community of investors have been very generous with their knowledge and sharing experiences.  When you start looking to buy, feel free to message me as I'm looking to wholesale deals that I end up not keeping for rentals or flips. Wishing you well in your investing. 

@Kevin Mcnair I am in the process of trying to find a portfolio lender as well.  @Brandon Turner discussed this type of lender yesterday on the BP webinar and I decided to try and find one in RVA that I may be able to work with on future buy and holds. Here are some prospects that I am thinking of giving a call this week to check out.  Again, I haven't used any of these and am in the same position of trying to find one.  I also may reach out to a local broker to see what recommendations they may have.  Wishing you well.

*MVB Mortgage

*George Mason Mortgage

*First Heritage Mortgage

@Kyandrea Fowlkes Congrats on getting started and receiving feedback from your letters! First, I will say that I am no lawyer and this is not legal advice, just my opinion. Have you started an LLC or are you looking into one? You may consider one as you start business to make sure that you are protected. However you decide to create your LLC (through a lawyer, Legal Zoom or directly through the state) you may consider having an experienced real estate attorney review to make sure that it is structured properly. Your real estate attorney should be able to draft you a contract that includes what you need to make a sale and make sure that wording abides by the state laws/mandates. BP also has a page under the Tools link, where BP members have shared contracts. You may have your lawyer review one of these if you choose that instead.

Lastly, comps can be found a number of ways. If you are working with a realtor who is investor friendly you could ask them for comps for the area that you are purchasing in as this should provide comps straight from the MLS giving you data on recent sales. Some people say that Zillow works well in their area or Redfin. Another site that claims to provide past sales prices as well as an 'average' comp for a property is FindCompsNow.com. Again, the most reliable way to find comps is probaby with the realtor but the other sources may work okay depending on your area.

Wishing you well in your investing!

@Jon Deavers Thanks for the feedback.

@Michael Costanzo Welcome to BP! I'm a new investor as well, and the BP community has been very helpful as @Danielle Jones mentioned.  Everyone is always willing to share experiences and ideas.  One way other than the forums that I enjoy learning on BP are the podcasts.  Not sure if that's of interest to you or not, but if so here's the link to some of BP members' favorite BP podcast episodes. Wish you well in your investing.

@Brandon Hall Congrats!  I appreciate you sharing your experience and growth process as an investor. It is very encouraging and challenging, as I am starting out in real estate investing. Great 'takeaways' listed above- all very true.  I'm amazed at how helpful the BP community is, and also how this site allows me to also share ideas with others, even as a newbie.  I'm looking forward to continuing to network, grow as an investor, and give back as I learn more.

@Paulo Trindade Welcome to BP! I am also starting out in real estate investing and have found BP to be a great community to learn from the experienced investors and also network and share ideas. If you're ever looking to do a deal in central VA please don't hesitate to message. Wishing you well in your investing.

PS* I saw you mentioned you listen to the podcasts .  Here's a link to a few favorite BP podcast episodes of BP members. Thought this may be of interest!

@Brett Snodgrass Thanks, Brett for the feedback. Very helpful!