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All Forum Posts by: Sean Sullivan

Sean Sullivan has started 32 posts and replied 72 times.

Post: The Best Way to Do an ARV Estimate in Reality?

Sean SullivanPosted
  • Rental Property Investor
  • Woodbridge, VA
  • Posts 75
  • Votes 68
Hi Everyone! Just getting into the property space and continuing to do my homework as I wait out this period and prepare to jump into my first property using the BRRR method. I’m excited to get started and as I continue I will work to keep everyone posted on my progress so we can all collectively learn from my journey! I did have a few questions as it relates to determining ARV that I was hoping some of the established investors here could clear up fairly easily, any help would be greatly appreciated: -When it comes to determining ARV, how and when during the buying process do you specifically do that? To clarify, if you are looking at a property it is not like you can bring a ton of contractors through the property to do estimates before you put an offer in on it. Does that mean you just do your best at an ARV estimate using comps and get as close to you can to the “right” answer? -Does anyone have any good best practices when doing this?

Post: Taking the plunge: Newbie - Woodbridge, Virginia near Quantico

Sean SullivanPosted
  • Rental Property Investor
  • Woodbridge, VA
  • Posts 75
  • Votes 68

@Account Closed

Thanks Umar! I'm hoping it is a big step in the right direction, maybe we will cross paths at some point!

Post: Taking the plunge: Newbie - Woodbridge, Virginia near Quantico

Sean SullivanPosted
  • Rental Property Investor
  • Woodbridge, VA
  • Posts 75
  • Votes 68

@Jay Helms

Great advice and resources thank you! I will definitely look into it

Post: Taking the plunge: Newbie - Woodbridge, Virginia near Quantico

Sean SullivanPosted
  • Rental Property Investor
  • Woodbridge, VA
  • Posts 75
  • Votes 68

@Ika Sargeant

Thank you and I appreciate the recommendations on both! I definitely will look to minimize my risk on the first and try to use it as a worthwhile learning experience!

I think I have really done as much research as I can without drifting into the “Analysis Paralysis” phase.

Post: Taking the plunge: Newbie - Woodbridge, Virginia near Quantico

Sean SullivanPosted
  • Rental Property Investor
  • Woodbridge, VA
  • Posts 75
  • Votes 68

@Anthoney Hanks

Thanks, I hope we cross paths along the way! Are you located in the area?

Post: Taking the plunge: Newbie - Woodbridge, Virginia near Quantico

Sean SullivanPosted
  • Rental Property Investor
  • Woodbridge, VA
  • Posts 75
  • Votes 68

Hi everyone on here! Here goes nothing…

Quick but relevant info:

-Military so I move around every three years.

-Looking to start building a network in the area (and just in general), bounce ideas off others, and just talk property.

Where I am on my investment journey:

-Bought, lived in, renovated, and sold a 1 bedroom, 1 bath condo in San Diego and came out of that deal with enough to “trade up” and procure my first apartment home here with the intent to “house hack” and start with a roommate. Looking to renovate the basement to add additional revenue after that is complete. While I am working on that internal project I am building up the resources to get my first “investment pure” rental by the end of the year.

-Over the last year I have intensified my studying and reading in an attempt to flush out my initial strategy more fully with the plan to take the first actionable steps towards this upon getting out here. Well that time is upon me… About half-way through all the BP Podcasts, and have been reading every blog post and book I can get my hands on!

-Currently in the process of researching surrounding markets and identifying the best choices (inputs encouraged!)

Future Strategy:

-Looking to invest outside the local area where the price points are lower and more "entry-level". Interested in both Single Family and Multifamily Homes (1-4 units) to start out with a BRRR concept in mind.

You could read the material for the rest of your life and never know everything there is to know, however the concepts have started coming together for me now and I am feeling a little more confident about taking that first real step! Looking forward to meeting everyone around here (social distancing in mind of course)!

Post: [Calc Review] Help me analyze this deal

Sean SullivanPosted
  • Rental Property Investor
  • Woodbridge, VA
  • Posts 75
  • Votes 68

@Brian Beck Thank you for the two cents, that’s exactly the type of feedback I was looking for! I really appreciate the help!

Post: [Calc Review] Help me analyze this deal

Sean SullivanPosted
  • Rental Property Investor
  • Woodbridge, VA
  • Posts 75
  • Votes 68

@Anthony Dooley thank you for the feedback! Could you elaborate on what you mean by a tertiary market? Again just getting started over here so I appreciate your time and you slowing it down for me.

Post: [Calc Review] Help me analyze this deal

Sean SullivanPosted
  • Rental Property Investor
  • Woodbridge, VA
  • Posts 75
  • Votes 68

@Bryan Noth you're absolutely right thank you for the response! This calculation is one of a number I have run in the area up to this point and they have all been surprisingly low. I'm wondering if the Stafford to Woodbridge area is so over picked that there are not many deals to be found. I have yet to find any multifamily units in that area although that is my ideal strategy if I can find them. Currently I'm running numbers for forced appreciation properties in the area which may lead me to seek some more feedback along the way, again thanks for the input!

Post: [Calc Review] Help me analyze this deal

Sean SullivanPosted
  • Rental Property Investor
  • Woodbridge, VA
  • Posts 75
  • Votes 68

I am a new investor, looking at properties in the Quantico, Virginia area and requesting feedback. All the deals have come back as bad deals so far, am I operating off bad assumptions/what am I doing wrong? Any feedback you may be able to provide is greatly appreciated, and thank you.

View report

*This link comes directly from our calculators, based on information input by the member who posted.