All Forum Posts by: Shannon Erickson

Hello! I wanted to connect with any folks with connections in the Prescott area! I was born and raised in Prescott Valley, which is where my parents still live. I own properties in DC (where I live) and I used to own in Flagstaff. As my parents age, I am assisting in their property management of their primary residence and would love to connect with other real estate investors in the area. For the immediate time, I'd love any contractors and handymen suggestions, but eventually, to work with agents to buy and sell in the area. 

Please reach out here and/or a DM! I'm visiting for the holidays so would love to do a coffee chat if anyone is up for it! 

Hey everyone! 

Hoping to snag a roommate last minute! 

My name is Shannon, I'm a female, hoping for female roommates! I can be flexible with room and beds. :) 
About Me: I'm a househacker in the DC area- on my third househack at the moment. Most of my househacks have been MTRs or STRs as my roommates. My newest househack is a multifamily with MTRs and STRs. I'm likely going to be out of the hotel room all day and just come in to sleep, shower, get ready for the next day! 
Contact Preference: DM here or insta @shannon_erickson_

 Hi Jacqueline! The next one will be on Nov 8th! https://www.biggerpockets.com/forums/521/topics/1149647-mont...

Hi BP community! If you're in Northern Virginia, DC, or Maryland, we invite you to our monthly Real Estate Investor's meet-up!

While we used to meet in the Tyson’s Mall Food Court, one of our attendees kindly invited us to meet nearby at their restaurant, The Union.

This location is:

The Union

1379 Beverly Rd, McLean, VA 22101

The date and time is:

6:30pm on Wednesday, November 8th.

Grab some food/drinks and network with other local investors. This is a great opportunity for new as well as seasoned investors from the DMV to build lasting relationships. People from all areas of real estate are encouraged to come regardless of experience level.

While we often see house hackers many of our attendees are also in one or more of the following: commercial, out of state, wholesaling, contracting, flipping, agents/brokers, property managing, lending, and doing BRRRRs.

Here is the link to the Facebook group which will also have all this info: https://www.facebook.com/groups/novarei

There will be no product pitching (we are not here to sell you anything) at this meetup (but you are encouraged to bring deals and services your business can provide), it is simply an opportunity to provide value to investors and professionals looking to network.

Keywords: Fairfax County, Prince William County, Alexandria County, Arlington County, Prince George county, Montgomery County, Loudoun county, Washington DC, Springfield, Alexandria, Fredericksburg, Quantico, Dumfries, Dale City, Manassas, Stafford, Lake Ridge, Fairfax, falls church, Centreville, Oxon hill, Maryland, Fort Washington, Hyattsville, Silver springs, Bethesda, Anacostia.

Looking forward to seeing you there!

One of our earlier meetups:

@Fabian Friedrich 

@Daniel Amsalem  

@Peter Siler

@Alex Petsopoulos

Hi BP community! If you're in Northern Virginia, DC, or Maryland, we invite you to our monthly Real Estate Investor's meet-up!

While we typically meet at the Tyson’s Mall Food Court, one of our attendees kindly invited us to meet nearby at their restaurant, The Union.

This location is:

The Union

1379 Beverly Rd, McLean, VA 22101

The date and time is:

6:30pm on Wednesday, October 11th

Grab some food/drinks and network with other local investors. This is a great opportunity for new as well as seasoned investors from the DMV to build lasting relationships. People from all areas of real estate are encouraged to come regardless of experience level.

While we often see house hackers many of our attendees are also in one or more of the following: commercial, out of state, wholesaling, contracting, flipping, agents/brokers, property managing, lending, and doing BRRRRs.

Here is the link to the Facebook group which will also have all this info: https://www.facebook.com/groups/novarei

There will be no product pitching (we are not here to sell you anything) at this meetup (but you are encouraged to bring deals and services your business can provide), it is simply an opportunity to provide value to investors and professionals looking to network.

Keywords: Fairfax County, Prince William County, Alexandria County, Arlington County,  Prince George county, Montgomery County, Loudoun county, Washington DC, Springfield, Alexandria, Fredericksburg, Quantico, Dumfries, Dale City, Manassas, Stafford, Lake Ridge, Fairfax, falls church, Centreville, Oxon hill, Maryland, Fort Washington, Hyattsville, Silver springs, Bethesda, Anacostia.

Looking forward to seeing you there! 

One of our earlier meetups: 

@Fabian Friedrich @Daniel Amsalem @Alex Petsopoulos @Peter Siler

Hello all!

My condo building HOA has a rule about 51% of the building needing to be owner occupied, leaving only 49% to be renter occupied. This is managed by the Board of Directors with the HOA- other homeowners within the building. I know that they implemented this rule out of fear that potential future buyers wouldn't be able to buy with an FHA loan.

In my building, the same people that have been renting their units out since the condo building existed, are obviously still the same ones renting out today. Any new folks are put on a "list" that when/if there is a unit available to rent (more owners than renters), the first person from the list is eligible to start renting their unit out.

Questions I have for all of you lovely smart REI folks:

1. Is the FHA rule a hard and fast rule? Do people TRULY not qualify, or is that up for interpretation, based on lender, if Fannie Mae needs to see proof, etc?

2. Is there a way to pull the data about how many people use FHA loans vs conventional (or any other?) for condos? Particularly for DC?

3. Wouldn't you all argue that enforcing a rule like this is actually preventing MORE buyers since investors are ineligible from buying in the building, as well as primary residence folks that eventually have the goal to rent out (my scenario, obviously). 

4. Is there a way to pull the data to see how many buildings have this rule, vs how many are open season for renters vs owners? (commentary here is that all the people I know that own condos in DC do NOT have this rule).

5. I assume this is a nationwide thing- how many other areas feel this struggle?

6. Does anyone know what the "or what" scenario is for an owner that rents out their unit that makes the tipping point for the building to cross the 51/49? (this will not be me, but I'm afraid it will be another friend in the building and I'm trying to help both of us out at the same time).

This is a slight stretch and just commentary, but a primary residence owner needing to sell their house in a pinch due to this rule, rather than renting it out, actually has the potential to drive the value of the other condos down. As well as the fact that if investors can't buy in your building, I could also argue that pulls property values down as you're only able to sell to primary residence owners. I am aware that some people have the attitude that renters don't take care of properties as well as homeowners, therefore that could pull property values down. All of these are statements, not questions haha 

Additional hot take is that the people managing this process are just other homeowners that I kind of just want to drive home the idea of "do you really want to spend your time enforcing these types of things, rather than just letting go of this rule and worrying about other more important things?"

Hey Cassidy! I forgot if you sometimes have a virtual session for these that people can tune in to? I'm going to be out of town but still would love to listen in if you do that! 

Hey Robert! Do you imagine opening up spots from the waitlist? I'm hoping I can come to the event and just joined the waitlist on Meetup.

Hey Russell! I saw this event says free, but the link it takes you is a $10 ticket. What does the ticket cost go towards?

Hi all! I own a condo in NW Washington, DC that has been my primary residence and I will start renting it out soon. I feel as though I might be a bit too much of a newbie to successfully be a landlord for the first time (have only been a landlord to roommates doing a house hack method- never on a property that I have not lived in myself) so I was considering hiring a property manager. In DC, the price point makes me choke up a bit, mostly because most of the services they provide are things that my HOA already does. I pay a hefty HOA price but they are very attentive and provide a lot as we have a HOA board (people that live in the building) as well as the fact that they hired a separate property management company. This separate property management company provides at least- HVAC inspections, extermination, (both of those help since the condo will be entered at least once every other month), emergency lock out help, on call support for situations like frozen pipes, security concerns, building wide relevant alerting system, etc. The "only" thing I really need help with is getting a tenant in originally- building a lease, photos of unit, application, tenant screening, rent collection, etc. I know a lot of this can be provided through things like Zillow rentals, Rent Redi, etc. but it sounds a little overwhelming to start when I'm new to being a landlord so I was thinking to just use a property manager for the first year and then maybe see if I can inherit the lease they made, etc. and try my hand at being the property manager of the property moving forward. Is there a such thing as a property manager that would give a discount considering our building property manager already provides a lot of services? Any other thoughts and input would be appreciated! Thanks for reading all these details :)