All Forum Posts by: Jonathan Newsome

Is anyone currently experiencing posting issues in the BP marketplace? I keep uploading a photo of a property and when I click on the post in market place, I get a red banner up at the top saying I need to upload at least 1 photo. I don't think it's taking and storing uploads at this time. It could just be my system, so I thought I'd ask. I've already tried the normal exiting out of explorer and restart with no luck.

@Wayne Brooks Thank you much for the valuable info you were able to provide, I greatly appreciate it. To be quite honest, I wasn’t sure if anyone actually walked away with superb deals at these auctions (.30 - .40 on the dollar) near the city. It makes sense that being out in the country with less competition would be a possible way to purchase at a lower price. I’ll definitely take your advice of speaking with an attorney in the area familiar with these dealings.

I’m currently in a Tax Deed state (Virginia). I would like to soon attend these auctions to eventually purchase properties, once I have enough education on how exactly the process works.

With Tax Deed states such as Virginia, after winning a bid on a property and making payment for said property, is the transfer of that Deed ‘Free and Clear’ or does it come with a mortgage/balance. We’ll keep this simple and say that there are no other liens or encumbrances against the property, aside from the delinquency on taxes and mortgage balance.

Ex: property ‘A’ market value is $200k

Mortgage balance: $80k

Delinquent Tax balance: $5k

Investor wins auctioned property for $20k

Does the mortgage balance get wiped?

Is a quiet action title necessary?

Am I free to market and sell property after the title transfer?

This is from the Fairfax county website, “Please note, the Code of Virginia does not authorize the sale of tax lien certificates. Sales only occur at public auction, and the sale conveys title to the property itself.”

@Eddie Gonnella Thanks for reaching out! Wow 8 months of searching and no luck huh? I haven't searched as long, maybe about a good 3-4 months, but I haven't found any either. In your opinion, would it be too expensive to construct a duplex or triplex for cashflow purposes, say in the Glen Allen/Short Pump areas?

Just curious, is there such a thing as a duplex, triplex or 4-Plex in the Richmond area?? Trying to find a MFH that is not severely overpriced and/or in a "bad area", is for the most part non-existent. I'd like to house hack and I have a small family along for the ride, so safety is a concern. I would probably be using either NACA, VA, or FHA for this type of deal but FIRST I'd have to find one! Seems to me like if I want it and can't find it, I'd have to build it. What do y'all think? Also, I'd like it to be within a 10-15 mile radius of RVA (if possible), w-2 employer is centrally located...

Anyone at all...

Any feedback is appreciated!

Hi BP! I'm trying to figure out if anyone has any experience using NACA to build a MFH (duplex - 4-Plex) and if that would be a good way to get my foot in the door of house hacking?

I'm over in the RVA area and after much searching, I've found that there aren't many, if ANY at all 3 or 4-plex's in the north/northeast RVA areas. This is what got me interested in thinking about NACA.

My idea is this: since there are NO duplex, triplex, or 4-plex's around that part of VA, I'd like to build/construct a 3 or 4 Plex over in the Glen Allen, VA area if permissible. I would obviously occupy one of the units until I could refinance at a later time, possibly 1 to 2yrs down the road.

My question is, has anyone ever done this with NACA? Also, would this be a good way to house hack and would you consider it worth the process? I know it would be a bit expensive constructing/building from the ground up. According to the NACA website and information, MFH's are covered as well as new home construction. I appreciate any feedback I can get, thanks!

Also, if anyone reading this is connected with @TimTrumble could you please ‘@‘ him, I’d appreciate his input in this matter, thanks!

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@Lamar Robinson I’ve personally used it, I like the app very much. The information provided such as mailing address and contact info is not bad either. Most of the properties I’ve found, I was able to successfully reach the owner. There will be a few properties with no phone number, but a little DD will help ya out there. Also, the new gps tracking on the app is very useful.