All Forum Posts by: Sophia Remley

Investment Info:

Single-family residence fix & flip investment in Front Royal.

Purchase price: $60,000
Cash invested: $31,500
Sale price: $230,000

We sourced this property from a seller who had been through the wringer while owning it. We were happy to let her walk away and start fresh. It was a beat up 2 bed, 1 bath on the mountain overlooking the Shenandoah river. The homes kitchen, bath, flooring, roof and entire exterior were remodeled while staying cost conscious. The small footprint and quick projects were great to start off our fix & flip journey.

Everyone looking for a meetup close to Winchester, Martinsburg, Hagerstown - there's a great one in Martinsburg,WV!

It's ran by 2 investors - one is a local real estate agent and one is a firefighter. The firefighter was actually on the BP podcast not too long ago episode 482!

If your interested join the facebook group I81 Real Estate Investors and take a look at the meetup schedule https://www.mdwvhomebuyer.com/... 

In 2021 I went from house hacking my first duplex to getting it fully rented (what a process)! But most importantly I started putting more effort into networking in my market which go me 2 flips under contract! Hoping to be listing them in the next few weeks and reinvesting the profit into a another multifamily!

Rents in my area are inflated just like housing prices. I like to price my units just below market so that the tenant stays longer. These prices are not going to last. As soon as the eviction moratorium is lifted and the banks can start foreclosing again prices/rents are going to stop increasing and level off. 

Amanda, I had the same situation when I bought my first duplex in December. There are no restrictions on non-renewals. The day after closing I went to the tenant and notified them that I was not renewing their lease and had them sign a copy of their 30-day notice. In a perfect world the tenant will move out on time and not give you any trouble but sometimes that doesn't happen. 

In my situation the tenant did not leave... I personally didn't want to go through the eviction process and hold up my renovation so I ended up offering them cash for keys. 

If you plan to do any updates to the property you could have that conversation with them, let them know that the rent will be going up because of that and they may self terminate.

Thank you everyone, you've given me a lot of good advice! Hopefully it goes well. 

Hello all! I am a newbie out of Winchester, VA and am closing on my first property in WV in 2 weeks. It is a Duplex and both sides are currently rented month to month with 30 day notice. I am buying this as a primary residence so the plan is to give notice to the tenant on the side that needs the most work. My original closing date was today and I had planned on giving written notice to the tenant immediately and they would have to move out by 12/31

My closing date was pushed back to 12/3/2020 because I couldn't get an appraisal scheduled because of all the refinances. My question is, if I give written notice to the tenant on 12/3 does that mean that the tenant has until 1/2/2020, 30 days later to move out? Or will they have until the end of the month? 

I'm probably overthinking this but I want to get it right the first time!