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All Forum Posts by: Patti Robertson

Patti Robertson has started 59 posts and replied 2591 times.

Post: Looking to Connect with Other Agents/Investors in Norfolk

Patti Robertson
Posted
  • Property Manager
  • Virginia Beach, VA
  • Posts 2,712
  • Votes 2,244

That would be me! I own many rentals in Norfolk and manage many more. One suggestion I give new investors is don't be adverse to just buying a rent ready property, financing it and then renting it. Everyone gets their mind set on BRRRR and doesn't even consider the small homes and townhomes that may already be rent ready. Keep your options open, especially in this challenging market!

Post: What type of lease do I need for Virginia beach, VA?

Patti Robertson
Posted
  • Property Manager
  • Virginia Beach, VA
  • Posts 2,712
  • Votes 2,244

BP has state specific leases if you pay for an upgraded membership. The one thing you want to be sure to include is the Virginia Statement of Tenant's Rights & Responsibilities. I'll post a link below to a page on the VA Dept of Housing & Community Development Website. They have lots of good resources there.

Also, be sure in your address format you # the rooms, and then label the doors to match your room #.    This will be critical in the event you ever need to evict a tenant. The Sheriff removed every living being (humans and animals) from the premises at the address.  If the address doesn't include a room #, they will evict the entire household.

https://www.dhcd.virginia.gov/landlord-tenant-resources

Post: Is it possible to qualify for an FHA loan while only being 18-19? Requirements?

Patti Robertson
Posted
  • Property Manager
  • Virginia Beach, VA
  • Posts 2,712
  • Votes 2,244

If you don't have 2 years of income history, and your parents are willing, you can buy it with them until you are in a position to refinance them off.

Post: Looking to Connect with Other Agents/Investors in Virginia Beach

Patti Robertson
Posted
  • Property Manager
  • Virginia Beach, VA
  • Posts 2,712
  • Votes 2,244

My hubbie and I built our entire portfolio doing BRRRR. We were lucky to have purchased most of ours before prices went sky high. It's a lot tougher now. I always suggest to new investors to not rule out buying properties that are already rent ready. There is nothing wrong with going right from buy to finance and then rent. Keep your options open!

Post: Tenant Has Rottweiler and German Shepard as ESA. How to proceed

Patti Robertson
Posted
  • Property Manager
  • Virginia Beach, VA
  • Posts 2,712
  • Votes 2,244

@Kevin Sobilo - I am not "forgetting" anything.  I want to ban cheaters just like everyone else, but think a landlord is just a schmuck if they tell a tenant they can't have a handicap accommodation like a wheel chair ramp, grab rails, or legitimate ESA.  If you want to be "that" landlord, you do you.  I on the other hand prefer to be a good human.

Post: Wholesaling in Virginia

Patti Robertson
Posted
  • Property Manager
  • Virginia Beach, VA
  • Posts 2,712
  • Votes 2,244
Quote from @Jairo Canas:

Awesome!! Thanks 

I can post off market deals to?


 As long as they are YOUR contracts and not another wholesalers.  In Virginia you or a company you have ownership in has to be the actual buyer named in the contract and your contingencies in the contract have to be lifted in order for you to have "equitable interest" in the property, which is what allows you to market the contract without a real estate license.

Post: Transition current home into rental and moving out of state.

Patti Robertson
Posted
  • Property Manager
  • Virginia Beach, VA
  • Posts 2,712
  • Votes 2,244

If you plan to paint, use washable paint. Flat paint can't be washed, so you will only get one tenant out of it, pretty much no matter how long they stay.  Fix anything that is broken, but don't go overboard.  You don't have to do "upgrades" to make it a rental.  If you are moving that far away, I would recommend hiring a PM.

Post: Am I required to accept Section 8 tenants?

Patti Robertson
Posted
  • Property Manager
  • Virginia Beach, VA
  • Posts 2,712
  • Votes 2,244

@Richard F. - They actually can. In 50%ish of the states there is state or local laws that require all or some landlords to accept vouchers. In Virginia. any landlord who owns at least 10% of more than 4 units, regardless if they are in different LLCs, may not use "source of income" as a determining factor for tenant selection. VA, and many states has make "source of income" a protected class under Fair Housing. This doesn't mean that you can't use all your other criteria for tenant selection.

Post: Paying utilities vs not paying utilities

Patti Robertson
Posted
  • Property Manager
  • Virginia Beach, VA
  • Posts 2,712
  • Votes 2,244

Personally I never want to pay tenant utilities.  Some states have restrictions and rules about diving utilities up, and some even require you submeter in order to hold tenants accountable.  In my state, Virginia, we can set a formula, so we base that on occupancy for water and square footage for electricity.  For example, in a building with washer/dryer hookups, we charge $50 plus $20/person.  I a building without w/d hookups, we would $50 plus $10/person.  Check your state laws first though, to see what your options are.

Post: Virginia Real Estate Investor Groups

Patti Robertson
Posted
  • Property Manager
  • Virginia Beach, VA
  • Posts 2,712
  • Votes 2,244

Where in Virginia are you moving to?