All Forum Posts by: Account Closed

@Dave Lloyd I would definitely be interested in knowing which services you've used with some success

@Cornelius Garland Which direct mail medium to you find works best with these older owners?  I've heard that postcards get very low response rates, but they're cheaper. 

Welcome to Bigger Pockets and to Richmond, VA! I'm also a new investor in Richmond looking to househack. Small MFR (Duplex, Triplex, Quadruplex) seem to be somewhat less abundant in this area than you might have hoped. That also makes them a bit more sought after than in other areas.

On the positive side: Richmond has a very diverse job market and is home to a growing millennial presence.  This could account for the large rate of renter-occupied households as opposed to owner-occupied. There are also a number of projects currently underway, and on the horizon, that could provide appreciation.  

On the negative: Cost to buy properties is slightly higher than the national average while cost to rent is lower. This could mean that a high cash on cash ROI will be a bit harder to attain, but definitely not impossible. Vacancy rates can be as high as 30% in some areas.

That's just some of what I've noticed anyway.  You'll want to make sure that your real estate agent is someone who works with investors.  Ideally, someone who has a portfolio of their own.  Most agents don't invest and don't understand investors.  They want to show you the cute little veranda, and you're more worried about the cute little cash flow. Dump 'em.  An agent who understands investors will usually realize that they're better off going after your needs than going after a larger commission since investors almost always mean repeat business if you treat them right.  But take my advice with a grain of salt; I've only been a Bigger Pockets member for a few weeks.  I read Rich Dad Poor Dad about a month ago.

Best of luck!

For those of us who work 70 hours a week at a full time job but still want to utilise driving for dollars, how would we go about finding someone to do some of the driving for us? In podcast 194, Justin Silverio mentions having someone else drive for him but I don't recall him mentioning where he found that person or how the agreement was arranged.  

Justin does go into detail in podcast 194 about how this strategy fits into his overall lead flow and why it's so effective. He goes on to explain why you may want to build a lead flow funnel even if you don't have the capacity to take on those deals yourself. Has anyone else used this method to generate leads? How well did it work? Where did you find someone willing to do your driving for dollars? 

@Deborah Pyburn  I like that one!  I'm adding that to my list.  Thanks for choosing this post for comment.  

@Chris Breezy You're certainly welcome to!  I hope they help.

Congrats @Levi T.!  If you're ever looking for a Newbie to do some legwork for you, I'm only about an hour and a half away.  Just throwing that out there. I'm eager to shed this newbie status!

Any time!

Hey BiggerPockets! Just wanted to share my daily/weekly goals and see what kinds of goals others set for themselves.  It might be beneficial to know how everyone stays motivated and on-track.  I'm still pretty new to this whole 'Pocket' thing, and often feel like I have a lot of catching up to do.  But I'm pretty determined to get there.

Current Daily Goals:

-Watch/listen to at least one BiggerPockets Podcast (I've been averaging 4 ...what?  They're addictive! And I drive a lot)

-Read 5 chapters of a Real Estate or Business book (Up next is Set For Life)

-Analyze at least one property, then figure out at what price point it makes sense (I don't yet know much about fancy creative financing, so I'm pretty limited there)

-300 pushups (Averaging one if you count pushing myself up out of bed in the morning)

-Annoy coworkers, bosses, and innocent passersby by telling them all about my real estate goals, then gauge interest

Weekly Goals:

-Drive for Dollars 3 days a week (Honestly, I'm doing this all the time anyway since much of my work requires driving all over the state)

-Attend any Meetups that aren't during work hours (So far, this has been zero.  I work a lot)

What goals do you like to set for yourself?  

@Brittany Sanchez, I'm still brand new to the whole thing myself. But I think you're mostly looking for properties that have lawns that haven't been mowed, overgrown bushes and trees, missing roof shingles, piles of newspapers on the porch, boarded up windows, broken or missing shutters and gutters, and For Sale By Owner signs since sometimes those won't be on the MLS. I also read that trash day is a great time to try this, because everyone else will have taken theirs to the curb. I hope this helps!

Interesting. I lived in Hopewell briefly. I don't think I lived in one of the better parts.  What areas of Hopewell would you suggest?