All Forum Posts by: Rhett Z Begley

@Jonathan New hit the nail on the head in every aspect of his response! I second everything he said.

@Janiel Vanderhorst

It took about thirty days, the process and paperwork is very similar to the mortgage process. I'm actually in the middle of getting another, larger HELOC on that same property to tap into more equity, should be about double what I currently have. As for the purpose, I told them that I want to use it for home improvement, and I legitimately purchased new paint and carpet for my house with the HELOC, but if I want to use it for something else in the future there isn't a requirement (I asked) to inform them that I'd be using it for something different from my original intentions when I applied.

Good luck!

Andy,

I’ve been investing in the area and have been using Christian Phillips and his team the entire time. I’ve lived here in Virginia Beach, DC, Hawaii, and California and he’s been the reason I’m comfortable continuing to invest from anywhere. Please send me a message for more information. 

Best,

Rhett 

Good afternoon Fayetteville! (And those investing there!) I’ll be moving to the area (from Virginia Beach) next spring and I’m looking to move into a 4 to 10 unit when I first move down there (I’ll be geo-batching for at least three months) so I’m looking for recommendations on property managers and perhaps brokers who are familiar with the multi-family market down there. I’d really like to get a general feel for Fayetteville as a rental market as a whole since most of my units are in the Norfolk/Virginia Beach area. Also happy to discuss partnering on something. I’ve got a decent lead time and I’m trying to decide whether or not to hold tight and prepare for a NC purchase or just find something else up here and bypass Fayetteville all together. Thanks in advance for any advice and I’ll be happy to take someone out for lunch/dinner/coffee next time I come down for a visit. Best, Rhett

David,

Welcome to BP! This was my first duty station ten years ago and I just moved back to the area last summer. I’ve got a pretty good team at this point. For CPA, I use Paul Allen at PIM tax, great guy, familiar with military and real estate taxes and is an investor himself, really smart guy. We’ve got a few attorneys, depends on what you’re looking for but our go-to is John Napier at Hangar Law, we’ve done closings, LLCs and some other stuff with him. He’s also an investor so he gets it. We have a great property manager as well if your interested, been working with him for ten years. Please reach out with any questions!

Taylor,

Welcome to BP! We’re doing something similar. We’ve got one flip in progress that we funded with some of our own money and the rest from private capital. We’re also working on a few 1031’s into multi-family properties so if you’d like to talk about those please let me know! I’d also recommend checking out the next BP meetup held by @Melanie McDaniel on November 12th. The guest speaker will be Christian Phillips, a great property manager that we’ve been working with for the past ten years. Good luck on your real estate journey and let me know if I can help!

Best,

Rhett

Joel/Beth,

Check out @Melanie McDaniel’s next meetup on November 12th, the guest speaker will be Christian Phillips who is a great property manager my wife and I have worked with for our rental properties here for the last ten years. And welcome to BP! Another group that may be of interest is the relatively new to this area Professional Investors Guild. 

Good luck and hope to see you there!

Best,

Rhett

Beau,

I’ll second Josh’s comment, @Melanie McDaniel hosts an awesome meetup every month, I’ve been to a few already and worked with her in other capacities. Her next one is on November 12th and the guest will be Christian Phillips, an awesome property manager in the area I’ve been working with for over ten years now. 

Best,

Rhett

Matt,

If you’re looking for good schools with low crime you’ll probably want to check out Virginia Beach. We were stationed in Hawaii, now Norfolk, and we’ve got two little kids also. In general, the VB schools are much better than the Norfolk schools so for that reason, and many others, we settled on a house in Virginia Beach. We also have a few rental properties in VB so happy to answer any questions or recommend a solid realtor or property manager. 

Best,

Rhett

Matt, try Navy Federal. I have a HELOC on one of my rental properties through them.