All Forum Posts by: Richard Crosby

Hello,

My name is Richard Crosby from Morgantown, WV home of the West Virginia University Mountaineers. I own Wildwood Property Management and have been a General Contractor for almost a decade at the age of 31.  My experience before I became a contractor was based in the D.C. / Frederick, MD area as a Historical Preservation Training Officer for The National Park Service.  While with NPS I worked on The White House doing stone repair and painting, Congressional Cemetery exhuming General Alexander Macomb (who became Commanding General of the US Army during the War of 1812) due to collapse of his tomb which we later rebuilt, and pretty much any battlefield in the area during my Summer internships.  

My longtime girlfriend and I are looking to move to the area for an unknown amount of time but at minimum one year.  Her family lives in the Auburn, Ca area and with aging loved ones we feel that it is important to spend some significant time with them.  I will continue to run my business from afar with my business partner running day to day activity.  My hopes are to meet with people from the area who are interested in restoration of properties.  I guess I forgot to mention that I was also the Project Manager for the East Coasts second largest insurance cleaning and restoration company (Panhandle Cleaning & Restoration) and my company specializes in commercial and residential restoration specifically.  My intentions are to search out distressed properties with either significant repairs that could show large returns or quick update for a fast return. 

Honestly, I have no idea of the areas or the comps, the additional code restrictions, or which subcontractors to use or which type of project.  Things that I am confident about is my ability to problem solve to resolve any issue that may arise during restoration and my willingness to commit to a project.  West Virginia may be the second poorest state in America but I used that as an opportunity to become resourceful and competitive by following a philosophy of "Doing it right, costs less than doing it over".

I am a residential and commercial general contractor that specializes in restoration but also have experiencein insurancerestoration. I have decided that it is time to expand my business to more profitable areas. I was very impressed with the Mount Pleasant area. I am interested in working with another like minded group or person to help navigate the area as I can tell that some neighborhoods are developing faster than others. I will be bringing my crew down until I am able to build a crew of individuals down there. I firmly believe in working with others to accomplish great things and I feel that those in the Biggerpockets community have the same mindset.

Investment Info:

Single-family residence buy & hold investment in Fairmont.

Purchase price: $85,000

My first home is a 1912 Sears Catalog home that I purchased through an owner finance of $500/month for the life of the loan with ZERO INTEREST! Restoration is a passion which is why I was attracted to this home in the first place. I have been living in the home since it was purchased but now i have my crew in there remodeling it so that we can refinance and keep as a rental.

What made you interested in investing in this type of deal?

The house had been sitting empty and was starting to deteriorate and I couldn't stand to watch it fall apart.

How did you find this deal and how did you negotiate it?

The house is next door to where I grew up.

How did you finance this deal?

Owner financing with zero interest for the life of the loan.

How did you add value to the deal?

Remodeling from foundation to roof.

Hello,

I apologize about the lack of response, my company has won multiple contracts fro remodeling Subway store locations throughout the great state of West Virginia.  I am going to make a point to be more active in the bigger pockets community so that we can build each other up by answering questions or actually asking questions as well!  I hope everyone is looking forward to bringing in 2020.

Hello,

I am a General Contractor and Property Manager from Fairmont, WV. Meeting people that are like minded in terms of real estate investing is one of my favorite things to do. Would anyone be interested in meeting up to discuss where they are or hope to be in the near future? I manage the property of a local coffee shop that would be a great meeting place if interest is there.