All Forum Posts by: Nikki Grizzle

Hey David, 

My husband and I go to the New Bern area alot and have finally decided to start investing there. I have some family and friends there but looking to meet new people in that area. I am familiar with the area to an extent and would love to talk more about the market in the different neighborhoods. We would love to get something in the downtown area but open to other neighborhoods. We are highly interested in the river bend area as well. Would love to connect with you sometime as we are looking to get something within the next 3 months.

My husband is the sit back and let the woman handle it type of guy. When it comes to researching, meeting with people, crunching numbers, etc. that is all me. When it comes to supplying the funds or finding funds, its all him. We are like that in our every day life. He has never met with anyone whether it be the cable guy, floor installation people or even the plumber. I always get a weird look when they see my husband emerge from his office say hello and leave. Sometimes they ignore me and talk to him and he just smiles, shrugs and looks at me.

I have met with a few people who are experienced and have been in the business for decades over coffee and lunch within the past two weeks and everyones story was different. I am a newbie and I had the same questions you had. I did not know where to start. Some told me to dive right in and others told me I needed to take a specific path meaning I had to take certain steps to get to the top. In the end I realized everyone is different so it is difficult to follow the same path as another. One may have more money to invest, another may have debt they need to pay. Someone may already have a group of people who are already investing they can learn from on a daily basis and another can have no one but the people they meet at networking groups. An older man told me to just do it which reminded me of a book I am reading that says the same thing. That is what my husband and I are doing right now. We saw 3 properties we loved. 1 for rehab and 2 for rentals. The rentals are going to be a breeze as we already are approved for a personal loan which we will use to buy the 2. The rehab we are still working on as one guy tried to screw us over point blank and it was obvious. But it was a learning experience. 

If you go on trulia put in the city and choose rent instead of buy. zoom in on the map and you should see other homes that are rentals in the area. Then compare the sq ft, number of bedroom and bathrooms as well as the condition of the place if there are pictures. Another option is to physically see other places for rent in the same area. This will give you an idea of what your rent should be. Also, if there is an HOA, find out if others are including that in the rent or separate.

Yes. I love that area. This is one of the reasons why we are actively looking for a condo in the area. The issue is that we only have weekends to go there which leaves us not being able to handle business during the weekdays. I also like the nice brick condos around Old Town or close. We are trying to stay away from the high rise condos unless we are using them for investment purposes. We also love Potomac Yard even though they are more townhomes than condos. We are keeping a close eye on a foreclosure there. It is bound to happen. 

Russell I love condos as well, especially in areas such as Alexandria. . Also, the condo we saw was actually a newer condo built above the Whole Foods. We were prepared to pay cash but of course someone gave an offer the day before we were going to drive there. The owner needed an out asap and was willing to take that loss. 

Marie  I actually know the exact building you are talking about. As far as living in Alexandria, we are not hung up on price so long as it is in a location that we both love since we plan on keeping it for ourselves. We travel to Alexandria on a regular basis to the point some store owners and employees already know us. Might as well make it a second home. When it comes to investing in Alexandria, it is definitely on the top of our list only because it is a hot spot for contractors. My husband worked as a govt contractor and a few people he knew cycled through that area while on a year or 2 year contract. Most of them worked in Tysons or Herndon. So we only plan on renting to govt contract workers/DOD workers. 

Thanks. We are more looking for a condo as opposed to a home around the Old Town area. It is just my husband and I so we do not need all the space. I havent seen any foreclosures for the homes but I have seen a decent amount of foreclosures with condos in the area. We saw one we wanted that was snatched up for around 50 grand near that shopping center and movie theatre within 2 hours. I was also thinking, for DC, airbnb might be more beneficial than renting. I hear its more lucrative so long as you are in a high traffic area, especially within walking distance to many sites and shops. 

Okay so I am having a difficult time wrapping my head around the endless amount of foreclosures I am seeing in the DC area. First off I am located in North Carolina however, my husband and I go to Alexandria, VA on a regular basis and plan on buying a second home there within the next 2 years. For those who know the area, know you can get to DC in about 5-7 minutes from Old Town. What is going on in that area? I want to jump on all those public foreclosures but am wondering if it is even worth it. These homes are around all the good stuff too like museums, downtown area, the White House. Are investors crawling all over these foreclosures or is that area just a lost cause? In my eyes the place looks like a great area to invest but then again I dont know the market that well. I would be looking to use these as rentals as opposed to flips.

This has happened to a friend of mine. Her and her husband had the same response from many sales offices. So the next time she went in she told them that they were buying the home for her mother in law as a surprise since she is getting older. She wanted to be close by but not living with them. They have been using it since.