All Forum Posts by: Stephen Glover

I hesitate to comment since I own a management company in Richmond (recommendations are always better coming from others), but would be glad to be a resource even if you don't go with our team.  Might be able to get you pointed in a good direction based on your situation.  Shoot me a message if you're interested in hopping on a call.  Otherwise, best of luck on your search!

@Russell Brazil  I'm decently connected in Richmond to some awesome agents, flippers, landlords, lenders, etc etc. and own a management company that is hyper focused on this market, community oriented, relationship based, etc.  I'm always connecting and investing time to help others when possible... blessed to be in this position.  BTW, I noticed you tagged @Taylor L. and he's a great resource too.

@Brandon Becsi I understand.  I believe most deals are found through having the right relationships, unless you're pouring an enormous amount of money into marketing.  Most of the bigger investors I know rely on their relationships to find the actual deals on a daily basis.  

@Brian Pulaski is spot on.  People who go on market want top dollar, and houses are selling in any condition within hours at top dollar in Richmond.  I'd think #1 may work 1/300 times, is less work, and less return.  #2 is the "right" way to turn flipping into a business, and yes, it takes a lot more time and effort. 

One important method of getting leads, relatively in-expensive and arguably the most important, is not listed on your second option. "Developing relationships."

Tough climate for flippers right now, but I know many that are crushing it in Richmond as we speak.

@Andris Linauts I'm finding 1% or better, off-market BRRRR deals (I don't bother with MLS- if it's public info I'm generally not interested). My latest BRRRR was $130K invested, renting for $1585/month, ARV $195K. Hard to find, but it's possible.

@Matthew Jones is your contractors initials “C.F.”because mine just gave me the same speech on my 3 delayed rehabs.

I went with another GC who is knocking it out the park on my newer projects.

@Taylor L. until 4 weeks ago when we had our first kid.  I haven't bought a house since then and I don't know what to do!!!!  :)

@Justin Shabanian I live in Richmond, and it's a great market, but admittedly I don't have any experience in long-distance BRRRRing which I assume would be a whole different animal.  Ultimately I would guess you need to build a rock solid team first and foremost, the same necessity that I needed to do locally.  It's almost cheating when it's local because I have a great network here.  Lots of opportunity out there, build the right team wherever you decide to go and you'll be much better for it.

@Matthew Maggy we have gotten writs for holdover.  Waiting on an eviction date now.  Also, you can evict for non-payment, but it's difficult to do.  The moratorium doesn't fully prevent that.  Unfortunately, the city is using every excuse they can to continue cases longer and longer so that they don't evict people as much as possible.

@Margo Fairchild.  MARGO!  Welcome!  We met a while back, and have run into each other a couple of times.  I'm in RE and have done a fair amount of investing.  Let's get up for some coffee (or a beer) sometime!  Happy to make some connections for you.  DM me if you're interested and we can set something up.

@Charles M.. You mention off-market.  Did a realtor bring it to you off market, friend of a friend, do you send mailers, etc?  I'm always curious to know how deals come to fruition.  I'm personally seeing a ton of opportunity, while many others will say there is none.  I like hearing how other people make it happen.  Thanks.