All Forum Posts by: Charles Sistrunk
Charles Sistrunk has started 1 posts and replied 4 times.
Post: Finding Cash Flow in NOVA
- Real Estate Agent
- Woodbridge, VA
- Posts 4
- Votes 3
Have you considered looking in the Stafford / Fredericksburg area. I find that using the 1% rule, you will find better opportunities in those areas.
Post: Help.. Struggling to rent first investment property
- Real Estate Agent
- Woodbridge, VA
- Posts 4
- Votes 3
Originally posted by @Jay Hinrichs:
@Katherine T. very common issue I see with landlords especially new ones they don't realize how vacancy can affect the investment.. they try to rent for top dollar does not rent.
its better to drastically lower rent to get it full than to have 4 or 5 months of vacancy.. you just lost 5X 900 4500 dollars... if you would have started at 900 you might have rented it right away and be 4500 dollars to the good.
what we like to do is offer FREE First months rent... just get nice deposit and have rent come in 2nd months.. again ONE free month to not have a vacancy is 12/ 900 = 75 a month discount first year 75 X 12 = 900 compare that to the 4500 you have already lost and will never recapture...
you will learn these things over time its just costly.. to go through the learning curve.. also the risk of theft and vandalism is real.. when you have vacant units.
Great advice!!! I have my first rental and it's been vacant for two months now with no tenant. I was using the time of year as an excuse but after reading this, it's time to get serious and get a tenant.
Post: Capitol REIA will be meeting Jan 27th in Fairfax VA
- Real Estate Agent
- Woodbridge, VA
- Posts 4
- Votes 3
I'm interested. Thanks!!!!
Post: New Member (Investor/Agent) from Northern Virginia
- Real Estate Agent
- Woodbridge, VA
- Posts 4
- Votes 3
I am an investor/agent living in Northern Virginia and new to Bigger Pockets. With some spare time over the holidays I started seeking additional resources to help grow in 2016 which led me to here.
I have spent the last few years flipping houses (in Prince William County, Woodbridge area) but I'm starting to look more towards buy and hold. I acquired my first rental property about a month ago and how have it on the market to rent. Once I get it rented I will refi and start looking for another rental/flip opportunity.
I have worked with other investors and are always looking for other investors to partner with on cash deals.
For me real estate is my hobby and is something that I am extremely passionate about. I DREAM of the day when I can do it full-time so I can never have to work another day in my life. Unfortunately (or fortunately) a lot of the work can be done nights/weekends so quitting the day job is not necessary, at least for now.