All Forum Posts by: Account Closed

True the MLS has the most accurate info, but for those of us that do not have access to the MLS (like me) I use Redfin first, Zillow and Trulia. Ill take what I find to my agent after I do some leg work myself. I think he would kill me if I bombed him 20 listings or so a day for him to check the MLS for. Since you are in Falls Church I believe Redfin covers your area. Redfin, to me, is more current than Zillow or Trulia. I use all of them to get general info, previous sales in the area, assessments, crime stats, tax records etc.,.

You definitely need to find people you can trust. An agent is going to be one of the toughest ones to start with. In my experience trying to invest in FL from VA I went through 10 agents before I got one that would work with me. Most never would call you back once you tell them what you are doing. Next is trying to find a contractor you can trust from afar and this is tough as well. Hear the old saying "while the cats away the mice will play"? If no one is there to make sure they stay on top of things you can wind up with notices from the city (been there done that got the t-shirt) I would go down periodically to see the homes I was trying to buy and learn the area. Knowing the area was key for me because if I would not live there I would not my tenants to live there. Thankfully my agent would try and steer me away from those areas. Documents are done electronically and over night, you do not have to be there in person. Good luck.

I like when you put a house up for sale and in a day or so someone has listed it on Craiglist for rent. Had that happen with my last flip, my agent called me to tell me someone hijacked our listing and posted our house up for rent for $750 a month. I emailed the poster to try and work out a "deal" to meet him at the property to give him a "deposit" then have him nabbed by the Sheriffs office. He never replied tho. 

I wouldn't do it at all. Lets just say there was buyer that wanted to do this with you. This can lead to changes mid way into a project, not liking the paint color, carpet etc., and can lead into a whole host of headaches. I have let the people passing by that were curious to see what was going on come in. Mostly were neighbors wanting to see the changes to the ugly house on the corner that was an eye sore for them for so long. Makes them appreciate what you are doing in their neighborhood. Sometimes this also has led into leads for tenants or buyers, got one buyer from just letting a neighbor in to see the place. Of course I would not let them in if it was not safe to do so. Good luck!

In my experience with auction properties your bid is your bid and that is the amount that is due. If you did not pay the price that you bid your deposit was lost and the property was put back up. But hey you never know unless you try, good luck.

Any chance a guy in Winchester VA can come? We do not have any REI meet ups or investor groups around here. Would love to meet other investors to meet and talk to.

Henri,

   Check it out, its been a great place for me for the past year and a half. 

Selling my very first rental property I bought in 2013. Selling it to move on to better things as the flip bug has me good and that is what I really enjoy.

Address - 5608 Bringle Ct Raleigh N.C.

Asking $69,500

3 bed 2 bath, deck replaced in 2014, new carpet and vinyl put down just before listing it for sale

Does need a little more TLC, but is rent ready as is. 

Appraised at $73K in Dec 2014 when I was going to re fi it to pull the cash out.

Was rented for $800 a month to long time tenants and they have not had a rent increase in the last 3 years of their occupancy. Could rent for $850-875 to new tenants.

HOA $88 and covers all exterior maint/landscape

MLS listing on Redfin -

https://www.redfin.com/NC/Raleigh/5608-Bringle-Ct-27610/home/41165473

The NOVA market is tough, especially in Loudoun & Fairfax. 

 J Scott,

  I did report it and the answer I got is the reason I have doubt they will fix it. And its apparent that I am not the only one with issue with the calcs if you look at other posts about it.