All Forum Posts by: Sean Ploskina

Section 8 is a voluntary program with very specific requirements for both the landlord and tenant.  You are not required to accept section 8 tenants.  Section 8 can be a great program for landlords if you get the right person.  I have heard horror stories but I have had a great experience.  

Just went to my first meeting at TRIG. It worked out that it was a panel discussion on rentals and SMEs for different areas.  So from that perspective it was worth it for the lease ideas alone.  The one time fee sucks but the yearly isn't bad if you plan on going regularly.  

Maryland is the closest state with tax liens.

They take care of as much as you want.  They find, manage, do the repairs or contract them out if it is over their head.  I have also had them do a repair project on a property I acquired. Carpeting, repaired a hole in the floor, cleaning etc.  They have a contracting license so its all legit.  

They charge me 8% fee plus repair costs.  There is no charge for getting the tenant in.  

I use Property services of Ocean View.  They manage all over Hampton Roads.  They have done a great job keeping my properties rented and informed of problems.  

Can the BP nation recommend a tax professional here in Hampton Roads, Virginia?  I am trying to find one who knows and invests in real estate

Thanks !!

Unless you put some serious cash down I have a feeling you will have negative cash flow. I have a similar cost property 335k purchase 30yr and rate of 6%. My payment is 1800/month PITI. That is 21600/yr. Also that is with 25% down.

Short answer if those numbers are correct it isn't a good deal

I have several SFH in the Hampton Roads area and with the upswing in the market I am looking to seek them and move up to multi unit. They are all currently rented with good paying tenants in place. I have sold a personal home before but never one with tenants. Are there are pitfalls or issues I should know about before I put them on the market?

Thanks in advance BP nation!

I am looking for wholesalers who operate in Hampton Roads. Specifically in norfolk and portsmouth. I am a buy and hold investor looking for 3/1, 3/2 or small multi unit. PM me if you would like to work together. Thanks!

The market is on an upswing so you will be digging for multi-family that cash flow well. I would buy on the side of the water you plan on living. The tunnel fees are not that high yet but it can be a hassle you may want to avoid. Unfortunately Norfolk is a city who's neighborhoods change very quickly. Two blocks can make the difference between shooting galleries and wine bars. You will need to drive the area or contact me with specific areas and I can try and help.