All Forum Posts by: Walter Key

Is an extra 2 weeks on the due diligence really worth the hassle and the potential for loosing the sale? I can't speak to the specifics of Florida since I'm a Central Virginia agent but, 45-60 day study periods for vacant lots in this market at least are well within the "norm". You've got potential delays for builders to do a site assessment for the buyer, potential delays in having a soil engineer available for a soil study, etc etc. Everyone who works in the Real Estate industry is backed up so, 60 days to be able to get those folks scheduled and onsite for whatever due diligence the buyer would like to perform seams reasonable to me. Again, just my $.02 from an agent's perspective here in Virginia.

Closure Title in Cville are great.

I believe 1st Dominion Realty is one of the larger property management agencies in this area.

https://1stdominionrealty.com/

I am not affiliated with them in any way but as a license Realtor in this area, I've seen and heard of them many times.

Hi @Aleksandra Liaplina! I invest in the VA and NC areas as well. As I'm typing this I'm sitting in my vacation condo that, when we're not staying in it, is professionally managed for us and making great short-term rental income. It's in a ski resort area of Beech Mountain, NC. I also own multiple properties in VA at the moment. What is your primary style of investing? Flips, short-term, long-term, etc? There are some Charlottesville area meet-up groups happening regularly.

I concur with Fiza. 30 minutes outside of Cville isn't College Rental potential. What city is it in? I'm in the Cville area as well. Happy to help you run some data on it.

FHA has higher fees and higher PMI than conventional. In addition, FHA's PMI never goes away, for the life of the mortgage whereas conventional PMI drops after 80% Loan to Value.

Just my personal opinion. I've been teaching debt management and personal finance for many years. I've found that the VAST majority of credit card users loose money because the teaser "0% for xxx months" turns into 18+% with a balance still remaining in the long run. Good on you and those few that are disciplined enough to use a CC in the manner you described. You are few and far between. That's why I recommend folks look for a more stable long-term option that doesn't require the discipline you have. 

Jumping on the band wagon here...Hardwood all day! :D

This is GOLD! 100%. 

@Derek Dombeck is spot on. Regardless of whether it's a professional lender, a rich "Uncle Joe", a good friend from college, whatever...ALWAYS put the paperwork in place and treat every single deal as if it were between you and someone you don't know.