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All Forum Posts by: Account Closed

Account Closed has started 8 posts and replied 30 times.

Post: Building My Network !!!!!! NORFOLK, VA

Account ClosedPosted
  • Posts 30
  • Votes 12

I am game. Lets rally the troops. I am formally promoting you to CEO of this local movement and look forward to the date and time I need to arrive. :-) 

Post: SFH CONVERTED TO DUPLEX !!!!

Account ClosedPosted
  • Posts 30
  • Votes 12

 Hello all,  there are alot of sfh that are converted to duplexes in my area. My question is if for some unforsaken reason albeit fire or natural disaster and the house is "DONE" would the rebuild be a new sfh that I would have to convert back ?   Zoning issues ????? 

Post: Building My Network !!!!!! NORFOLK, VA

Account ClosedPosted
  • Posts 30
  • Votes 12
Originally posted by @Rudeka J.:

Fred Watkins with William E Wood in Chesapeake. He's a realtor and investor and can refer contractors he's used

 Hi Rudeka,  Thanks for the info. Are you an investor as well in the Hampton Roads area ?

Post: WHAT SHOULD I DO ????

Account ClosedPosted
  • Posts 30
  • Votes 12

Thanks Brent.....

Post: WHAT SHOULD I DO ????

Account ClosedPosted
  • Posts 30
  • Votes 12

Hello Biggerpockets folks,

 I currently owner/occupy a condo which I purchased in 2007 at the peak...I am underwater and want to invest in RE. Should I rent it out and break even and purchase a sfh with fha and fix it up or stay and purchase a sfh and rent it ??????

Post: Brittany...the next investor from VA

Account ClosedPosted
  • Posts 30
  • Votes 12

Welcome from another Norfolk, Va newbie. hope to see you around "partner". I wish you the best and read, read, read and then.........Action !!!

Post: Building My Network !!!!!! NORFOLK, VA

Account ClosedPosted
  • Posts 30
  • Votes 12

By the way I have tried several times to fix my Picture to no avail. (Head remains chopped off)

Post: Building My Network !!!!!! NORFOLK, VA

Account ClosedPosted
  • Posts 30
  • Votes 12

Newbie ( my bad)

Post: Building My Network !!!!!! NORFOLK, VA

Account ClosedPosted
  • Posts 30
  • Votes 12

I am in search of a REI mentor, agent and contractors to talk shop and build a business relationship. Don't miss a great opp to develope a new relationship with a ready and willing newbiw !

Post: Too many rentals

Account ClosedPosted
  • Posts 30
  • Votes 12
Originally posted by @Tim Lindstrom:

@Account Closed I agree with @Jeremiah B..

You have to be careful when buying properties with the intent to rent them out.  If there are a lot of rentals in the area,  it most likely means that the rent to cost ratio is high (that's good), but like was stated;  if there are more rental than tenants, the market is too saturated, and rents will start naturally going down as landlords try to fill empty units.  Do the numbers still make sense if you had to charge 10 or 20% less for rent?  

One thing I have heard on some of the podcasts here on BP is if you make your rentals better than the competition, you have a better chance of keeping them filled.   So visit some of the units for rent.  See what they look like (can you make yours look better?), try to find out how long they have been vacant (can you afford to sit on an empty property that long?).  Make your decision from there.

 Thanks Tim....good advice