All Forum Posts by: Tom Hacku

@Nicholas Buehren come to Richmond RING on Wednesday (it’s on Meetup). Maybe 100 people or so attend, great group

@Mason Osborne definitely verify rents and property management costs but if you’re positive cashflow then I’d say go for it, especially if it’s in Glen Allen where you have a great opportunity for appreciation. Look into Peak Property Management, owner is a great person, local, and very active in the investing community here.

@Kristian Gonzalez Hey, networking is a huge part of it. Attend meetups, welcome to search through a bunch of my previous posts regarding which ones. Go to those every month. Ask as many questions as you can, talk to as many people as you can, start practicing running numbers (ARV, estimating rehab, max allowable offer). Also, take the initiative to reach out to people, rather than waiting on people to reach out to you. There's a lot of people that say they want to get started then sort of fizzle out so if you can stick with it, it will be the one of the best decisions you've ever made

@Grant Huckestein I’ve posted about meetups a few times here, definitely recommend attending. They should be starting back up next week and there’s an awesome network of people here. Pour into networking. Join the local FB groups

@Banei Fields look into Richmond RING, Chesterfield REIA, Todd Miller's Wholesaling Meetup (meetup.com). I think next one is in January for each of them

@Kennith Brandon post it in the facebook groups local to Richmond ie RVA Off-Market Real Estate. Ton of buyers there

@Mike Rice Call up Bill Pilc CPA with Pilc & Moseley. That's who I use in the area and he's helped me a bunch with tax questions, even before I did my first deal. I know a few other investors use him as well.

@Mike Rice Definitely attend meetups in the area, there's some great ones (RING, CREIA, etc - meetup.com). If only looking at MLS deals, seller financing might be something you want to look for there. Try to work on finding off market stuff which there's a ton of info out there on how to do so. If you have the property under an LLC you can still get financing if it's a good deal and meets the lending requirement (DSCR). Can try hard/private money for fix and flips if it's a good deal but the ARV is a little too high for a buy and hold (or message me if you find one!). Just keep up with the "how can I" mindset rather than the "I can't" mindset because there's great people in the area that can help you be successful

@Raven Wilkes Hey, Richmond is a great place to invest. Definitely recommend continuing to network as much as you can with people in the area. The big thing is getting your team together and getting everything set up so that when you find a deal, you can jump on it fast. Lawyer, CPA, local realtor, contractor, lender are all people you need to have together. If you search the BP forums you can find a bunch of those recommended. Attending meetups or having a rock star on your team can help with the search. If buying in an LLC (lawyer can help you form), you can definitely get an asset backed loan but it will probably have to meet certain DSCR criteria (look it up if not familiar). Or get a great deal off market where you can be all in 75-80% of ARV and refinance out. Happy to answer any questions going forward

I second Bill Pilc, this is who we use. For an attorney look into Curtis Gordon with Dankos & Gordon, I know a bunch of people use him and I’ve heard good things. I use Sean Tluchak as a registered agent, him and Katie (Taylor) are great. There’s a few different options as well that people have mentioned in the forums, search “attorney in Richmond” in the search bar. Having a few good names is always a good idea, especially if you need to do double closings with wholesaling